The aim of this dissertation is to understand the challenges that open banking brought to the financial services industry in terms of business model adaptation. The concept of business model is gaining an increasing relevance in the academic literature and it will be consistently highlighted in this research due to its continuous evolution and adaptation to regulatory, technology and consumer trends. The present dissertation is composed of two main parts: the first one explains the concepts’ definitions of open banking and business model and how these can influence each other; the second one analyses the open banking role as a driver towards business model innovations in the financial services sector. In this regard, three important case studies have been examined: Banking-as-a-Service, challenger bank and BigTech. Based on the academic and management literature, the challenges that the banks and the other financial entities are facing today are related to computer systems inherited from the past and to the introduction of flexibility and openness within their actual business models. Business model adaptations can generate positive value creation in terms of efficiency, range of options, customer experience and experimentation of opportunities that can turn into new trends in the future. Current developments in the industry are showing that new players are disrupting an industry that, throughout its history, remained relatively conservative and dominated by a narrow niche of players. Hence, in this research actual and potential future trends are going to be analysed in order to track how this phenomenon is changing the financial services sector.
Lo scopo di questa tesi di laurea è di comprendere le sfide che l'open banking ha portato al settore dei servizi finanziari in termini di adattamento del modello di business. Il concetto di modello di business sta acquisendo una crescente rilevanza nella letteratura accademica e sarà costantemente evidenziato in questa ricerca a causa della sua continua evoluzione e del suo adattamento alle tendenze normative, tecnologiche e di consumo. La presente tesi si compone di due parti principali: la prima spiega le definizioni dei concetti di open banking e di modello di business e come questi possano influenzarsi a vicenda; la seconda analizza il ruolo dell'open banking come driver delle innovazioni del modello di business nel settore dei servizi finanziari. A questo proposito sono stati esaminati tre importanti casi di studio: Banking-as-a-Service, challenger bank e BigTech. Sulla base della letteratura accademica e manageriale, le sfide che le banche e le altre entità finanziarie si trovano oggi ad affrontare sono legate alla modernizzazione di sistemi informatici obsoleti e all'introduzione della flessibilità e dei concetti di apertura e di collaborazione con altri players all'interno dei loro attuali modelli di business. Gli adattamenti dei modelli di business possono generare una creazione di valore positivo in termini di efficienza, gamma di opzioni, esperienza del cliente e sperimentazione di opportunità che possono trasformarsi in nuove tendenze nel futuro. Gli attuali sviluppi del settore stanno dimostrando che i nuovi operatori stanno sconvolgendo un settore che, nel corso della sua storia, è rimasto relativamente conservatore e dominato da una ristretta nicchia di operatori. Pertanto, in questa ricerca verranno analizzate le tendenze attuali e potenziali del futuro, al fine di tracciare come questo fenomeno sta cambiando il settore dei servizi finanziari.
L'open banking e il suo impatto nei modelli di business
GRIECO, MARCO
2019/2020
Abstract
The aim of this dissertation is to understand the challenges that open banking brought to the financial services industry in terms of business model adaptation. The concept of business model is gaining an increasing relevance in the academic literature and it will be consistently highlighted in this research due to its continuous evolution and adaptation to regulatory, technology and consumer trends. The present dissertation is composed of two main parts: the first one explains the concepts’ definitions of open banking and business model and how these can influence each other; the second one analyses the open banking role as a driver towards business model innovations in the financial services sector. In this regard, three important case studies have been examined: Banking-as-a-Service, challenger bank and BigTech. Based on the academic and management literature, the challenges that the banks and the other financial entities are facing today are related to computer systems inherited from the past and to the introduction of flexibility and openness within their actual business models. Business model adaptations can generate positive value creation in terms of efficiency, range of options, customer experience and experimentation of opportunities that can turn into new trends in the future. Current developments in the industry are showing that new players are disrupting an industry that, throughout its history, remained relatively conservative and dominated by a narrow niche of players. Hence, in this research actual and potential future trends are going to be analysed in order to track how this phenomenon is changing the financial services sector.È consentito all'utente scaricare e condividere i documenti disponibili a testo pieno in UNITESI UNIPV nel rispetto della licenza Creative Commons del tipo CC BY NC ND.
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https://hdl.handle.net/20.500.14239/303