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The impact of blockchain on business models in banking

Author

Listed:
  • Viktoria Rajnak

    (University of St. Gallen)

  • Thomas Puschmann

    (University of Zurich)

Abstract

Blockchain technology is predicted to reshape existing business models of the financial services industry. But although blockchain is often seen as a strategic technology, research focusing on its impact on business models is still rare. This research derives a hypotheses model that connects IT innovations with the three generic value disciplines of banks “operational excellence”, “customer intimacy” and “product leadership” as well as the four generic elements of business models “what”, “who”, “how” and “value”. A business model acts as a mediator for IT innovation. To test the hypothesis model data provided from an international survey of 104 financial services institutions and start-up companies was applied. The results support the hypothesis that all three value disciplines might be impacted by blockchain technology in the future. The regression analysis reveals that especially banks’ operations could be significantly changed. With these results, this research contributes to the emerging literature on blockchain and business models and the strategic use of IT.

Suggested Citation

  • Viktoria Rajnak & Thomas Puschmann, 0. "The impact of blockchain on business models in banking," Information Systems and e-Business Management, Springer, vol. 0, pages 1-53.
  • Handle: RePEc:spr:infsem:v::y::i::d:10.1007_s10257-020-00468-2
    DOI: 10.1007/s10257-020-00468-2
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    References listed on IDEAS

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