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The dichotomy of inclusiveness and vulnerability as a consequence of banking platform development

Author

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  • Łasak, Piotr
  • Wyciślak, Sławomir

Abstract

The processes of digitalization transform the current banking sectors. Digitalization and the increasing role of FinTech are driving the platformization of banking services, affecting the participants involved in their development and operation. This article examines the relationship between capturing value by different banking platforms' participants and the process of their inclusivity and associated vulnerability. The conflict of basic goals is analyzed through the lens of Paradox Theory. Our contribution is a theoretical model that helps understand how the banking platform's inclusiveness leads to value co-creation while introducing vulnerabilities. The governance structure is essential for the context of value co-creation in banking platforms. The model of governance defines the relations between different platform co-creators and their inclusiveness in a particular model. This research refers to the European Union financial market. The motivation for this focus is the regulatory solutions, embracing open banking and open finance. Understanding these dynamics is essential for shaping future policies and ensuring the sustainable development of banking platforms.

Suggested Citation

  • Łasak, Piotr & Wyciślak, Sławomir, 2024. "The dichotomy of inclusiveness and vulnerability as a consequence of banking platform development," Research in International Business and Finance, Elsevier, vol. 72(PB).
    • Handle: RePEc:eee:riibaf:v:72:y:2024:i:pb:s0275531924003295
    DOI: 10.1016/j.ribaf.2024.102536
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    Keywords

    Banking platforms; Paradox theory; Platform participants inclusiveness;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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