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Copyright of CISTI (Iberian Conference on Information Systems & Technologies / Conferência Ibérica de Sistemas e Tecnologias de Informação) Proceedings is the property of Conferencia Iberica de Sistemas Tecnologia de Informacao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The enactment of the revised Payment Services Directive (PSD2) by the European Union, has pushed banks to develop digital open banking platforms to enhance market competition and promote innovation in the banking industry. PSD2 mandates banks to offer APIs to provide access to banking data to external third-party providers (TPPs). This mandate might disrupt the role of banks since external complementors such as fintechs have the legal right to access and leverage banking data to offer innovative banking services. As such, the emergence of regulated open banking platforms engenders complex interdependent relationships between banks and fintechs. Drawing on a case of an open banking platform by Nordea Bank, we aim to examine these interdependencies with emphasis on the engagement between banks and external complementors in a regulated platform context. We conclude with insights into the lack of access control by platform owners and new conditions of platform openness. [ABSTRACT FROM AUTHOR]

In the Open Finance framework, collaboration of traditional incumbents (i.e., banks) with start-ups (i.e., FinTechs) is crucial for success. However, despite the frequency and relevance of such partnerships in the financial system, research in this field is rather limited, as most works address alliances regardless of the field of application. The limited number of publications related to finance shed light primarily on the motivations promoting interaction among banks and FinTech start-ups, overlooking additional aspects and players. Therefore, the aim of this work is to build a comprehensive framework allowing to properly frame alliances in the financial industry. Focusing on the Italian context, 90 public partnerships were analysed through document analysis of press releases. It emerges that the majority of the alliances do not involve investments in equity and attest strong participation and commitment of FinTech start-ups. On top of common knowledge, we uncovered other relevant variables to consider in this field when analysing each partnership: its direction, which depends on whether the relation resembles more an operative agreement or an industrial one; its field of interest, which details what the collaboration is about; and its addressees, identifying the targets of these alliances. These dimensions, along with the other ones in a comprehensive framework, will contribute to the enrichment of the literature, closing a relevant gap, and serve as a guide for practitioners in addressing these partnerships. [ABSTRACT FROM AUTHOR]

Copyright of CISTI (Iberian Conference on Information Systems & Technologies / Conferência Ibérica de Sistemas e Tecnologias de Informação) Proceedings is the property of Conferencia Iberica de Sistemas Tecnologia de Informacao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Proceedings of the International Scientific Conference of Daugavpils University / Daugavpils Universitates Starptautiskas Zinatniskas Konferences Materiali is the property of Daugavpils University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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 customer 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 contribution is made by identifying related challenges and opportunities faced by fintechs and incumbents in the shifting landscape of retail banking. The challenges identified include risk of disintermediation, loss of reputation and transformational failure while the opportunities identified 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 increased collaboration with third party fintechs. [ABSTRACT FROM AUTHOR]