Open Banking

OPEN ARCHIVE

Union Jack
Dannebrog

Open Banking

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dc.contributor.author Gozman, Daniel
dc.contributor.author Hedman, Jonas
dc.contributor.author Sylvest, Kasper
dc.date.accessioned 2018-11-08T14:38:39Z
dc.date.available 2018-11-08T14:38:39Z
dc.date.issued 2018-11-08
dc.identifier.uri http://hdl.handle.net/10398/9682
dc.description.abstract The phenomenon of financialization has received increasing attention, especially following the global financial crisis. We broaden the scope of research on financialization by investigating Open Banking initiatives. Such initiatives aim to enhance the banks’ ability to personalise cus-tomer experiences. Consumers and businesses can now easily share their data with banks and third parties to manage personal accounts and compare banking services. Such initiatives raise important questions regarding the future role of banks as well challenges and opportunities inherent in the new Open Banking landscape. We empirically investigate five Open Banking initiatives through twenty-five interviews conducted with users of Open Banking APIs as well as those managing the various initiatives. From these interviews, we develop a taxonomy and identify four open banking roles: integrator, producer, distributor, and platform. A further con-tribution is made by identifying related challenges and opportunities faced by fintechs and in-cumbents in the shifting landscape of retail banking. The challenges identified include risk of disintermediation, loss of reputation and transformational failure while the opportunities iden-tified include enhanced service innovation and risk mitigation. Overall, the study provides first insights into how the retail banking industry will adapt to new service innovations and in-creased collaboration with third party fintechs. en_US
dc.format.extent 15 en_US
dc.language eng en_US
dc.subject.other Open banking en_US
dc.subject.other Open API en_US
dc.subject.other Financialization en_US
dc.subject.other FinTech en_US
dc.title Open Banking en_US
dc.type cp en_US
dc.accessionstatus modt18nov08 soma en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Digitalisering en_US
dc.contributor.departmentshort DIGI en_US
dc.contributor.departmentuk Department of Digitalization en_US
dc.contributor.departmentukshort DIGI en_US
dc.description.notes Paper presented at the 26th European Conference on Information Systems (ECIS2018): Beyond Digitization – Facets of Socio-Technical Change. June 23-28 2018, Portsmouth, UK. en_US
dc.publisher.year 2018 en_US
dc.title.subtitle Emergent Roles, Rules, Risks & Opportunities en_US


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