Future Scenarios of Iranian Banks in the Face of Fintech

Objective: Bank-fintech collaboration scenario has become one of the new topics in the study of innovation and financial technology businesses. Yet, there has been no research into Iranian Banks collaboration scenarios as traditional financial institutions in the face of the rapid growth of fintechs...

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Autores principales:	Reza Payandeh, Meisam Shahbazi, Manouchehr Manteghi
Formato:	article
Lenguaje:	FA
Publicado:	University of Tehran 2021
Materias:	collaboration innovation bank fintech scenario analysis Finance HG1-9999
Acceso en línea:	https://doaj.org/article/b9599bd2b84043e09ffa7a71b63febad
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spelling	oai:doaj.org-article:b9599bd2b84043e09ffa7a71b63febad2021-11-14T06:00:55ZFuture Scenarios of Iranian Banks in the Face of Fintech1024-81532423-537710.22059/frj.2021.308271.1007055https://doaj.org/article/b9599bd2b84043e09ffa7a71b63febad2021-08-01T00:00:00Zhttps://jfr.ut.ac.ir/article_83715_f44827cc4ae9dc2baa31787a879cdac8.pdfhttps://doaj.org/toc/1024-8153https://doaj.org/toc/2423-5377Objective: Bank-fintech collaboration scenario has become one of the new topics in the study of innovation and financial technology businesses. Yet, there has been no research into Iranian Banks collaboration scenarios as traditional financial institutions in the face of the rapid growth of fintechs that is the purpose of this research. Methods: To develop scenarios, mixed-method research is employed. In this regard, drivers, wildcards, and weak signals of Iranian bank-fintech collaboration were listed by thematic analysis of 15 interviews of fintech ecosystem experts. Then with 33 scholars and practitioners’ participation, factors affecting collaboration were listed, successively confirmed with a one-sample t-test, and prioritized with fuzzy Topsis. Furthermore, future scenarios were developed based on Global Business Network, by distributing the questionnaire among 144 senior bank managers from 16 Iranian banks. Results: Legal development of fintech types and establishment of e-KYC are recognized as two key uncertainties, and subsequently the four scenarios were described: identity scenario, sine scenario, floor and ceiling scenario, and logarithm scenario. Then, private plugin services and Public API Banking Providers were proposed as robust banks’ strategies in collaboration with fintechs. Conclusion: To adopt a suitable scenario and realize the robust strategies, strategic themes were identified and categorized into three areas: national governance, partnership network, and technology management. Eventually, with the expert interview, the results were confirmed.Reza PayandehMeisam ShahbaziManouchehr ManteghiUniversity of Tehranarticlecollaborationinnovationbankfintechscenario analysisFinanceHG1-9999FAتحقیقات مالی, Vol 23, Iss 2, Pp 294-328 (2021)
institution	DOAJ
collection	DOAJ
language	FA
topic	collaboration innovation bank fintech scenario analysis Finance HG1-9999
spellingShingle	collaboration innovation bank fintech scenario analysis Finance HG1-9999 Reza Payandeh Meisam Shahbazi Manouchehr Manteghi Future Scenarios of Iranian Banks in the Face of Fintech
description	Objective: Bank-fintech collaboration scenario has become one of the new topics in the study of innovation and financial technology businesses. Yet, there has been no research into Iranian Banks collaboration scenarios as traditional financial institutions in the face of the rapid growth of fintechs that is the purpose of this research. Methods: To develop scenarios, mixed-method research is employed. In this regard, drivers, wildcards, and weak signals of Iranian bank-fintech collaboration were listed by thematic analysis of 15 interviews of fintech ecosystem experts. Then with 33 scholars and practitioners’ participation, factors affecting collaboration were listed, successively confirmed with a one-sample t-test, and prioritized with fuzzy Topsis. Furthermore, future scenarios were developed based on Global Business Network, by distributing the questionnaire among 144 senior bank managers from 16 Iranian banks. Results: Legal development of fintech types and establishment of e-KYC are recognized as two key uncertainties, and subsequently the four scenarios were described: identity scenario, sine scenario, floor and ceiling scenario, and logarithm scenario. Then, private plugin services and Public API Banking Providers were proposed as robust banks’ strategies in collaboration with fintechs. Conclusion: To adopt a suitable scenario and realize the robust strategies, strategic themes were identified and categorized into three areas: national governance, partnership network, and technology management. Eventually, with the expert interview, the results were confirmed.
format	article
author	Reza Payandeh Meisam Shahbazi Manouchehr Manteghi
author_facet	Reza Payandeh Meisam Shahbazi Manouchehr Manteghi
author_sort	Reza Payandeh
title	Future Scenarios of Iranian Banks in the Face of Fintech
title_short	Future Scenarios of Iranian Banks in the Face of Fintech
title_full	Future Scenarios of Iranian Banks in the Face of Fintech
title_fullStr	Future Scenarios of Iranian Banks in the Face of Fintech
title_full_unstemmed	Future Scenarios of Iranian Banks in the Face of Fintech
title_sort	future scenarios of iranian banks in the face of fintech
publisher	University of Tehran
publishDate	2021
url	https://doaj.org/article/b9599bd2b84043e09ffa7a71b63febad
work_keys_str_mv	AT rezapayandeh futurescenariosofiranianbanksinthefaceoffintech AT meisamshahbazi futurescenariosofiranianbanksinthefaceoffintech AT manouchehrmanteghi futurescenariosofiranianbanksinthefaceoffintech
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Future Scenarios of Iranian Banks in the Face of Fintech

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