The Benefits of Open Banking to Consumers, Banks and FinTech Companies.

This thesis presents a qualitative grounded theory investigation into the possible benefits of open banking for consumers, traditional banks and FinTech companies, with the study exploring the impact of open banking regulation on the banking industry as regulatory actions occur globally, underpinning rapid innovation in banking, and effectively supporting the rise of the FinTech phenomenon. The general views held by traditional bankers on open banking are explored together with the paths available to them, as they seek compliance with recently issued data sharing regulation, and what this may mean for consumers and FinTech companies. The role played by FinTech companies is also explored, including the possible benefits they derive and contribute to banks and consumers. The benefits to consumers are presented based on the findings and the literature, along with the benefits to banks and FinTech companies, based on the research. Purposive sampling was employed, arriving at a representative sample of top banking and FinTech leaders against which a subjectivist approach application of semi-structured interviews was administered. Data analysis and coding generated 4 themes from which emergent theory arose, forming part of the contribution to knowledge. This emergent theory argues that the current structure of bank business models appears unsustainable under consumer-led pressure for innovative and convenient, independent mobile based products; to respond, bank and FinTech collaboration is key. The theory provides a basis for recommendations that form contributions to practice, designed to support banks as they navigate the transformative nature of the open banking regulation before them. These contributions take the form of a two-part model integrated strategic review process by which banks can make better informed decisions, ensuring improved sustainability and systemic stability. Practice recommendations were also provided for the consideration of FinTech companies. Consumers benefit from the posited contribution to practice as the industry reshapes to specifically meet their needs based on collaboration, reduced systemic costs, increased innovation and just sufficient regulation. Whilst regulators were not a focus of this research, significant findings emerged from the data which have been presented, along with a contribution to practice by way of a set of recommendations for the consideration of regulators seeking to develop an appropriate response to the rapid innovation coming from the FinTech companies.

本论文针对开放银行（Open Banking）为消费者、传统银行及金融科技（FinTech）公司带来的潜在益处，开展定性扎根理论研究。鉴于全球范围内陆续出台相关监管举措，本研究探讨了开放银行监管对银行业的影响：此类监管举措为银行业的快速创新奠定了根基，并有效推动了金融科技现象的兴起；本研究同时探究了传统银行从业者对开放银行的普遍看法，以及他们在遵守最新出台的数据共享监管要求时可采用的可行路径，同时分析了此举对消费者与金融科技公司可能产生的影响。本研究还探讨了金融科技公司所扮演的角色，包括其可为银行与消费者带来的潜在益处，以及自身从中获取的收益。本研究基于调研发现与既有学术文献，阐述了开放银行给消费者带来的各项利好；同时基于本次研究结果，梳理了开放银行给传统银行与金融科技公司带来的潜在价值。研究采用目的性抽样（Purposive Sampling）法，选取了顶级银行与金融科技领域的领军人物作为代表性样本，并针对该样本运用半结构化访谈（Semi-structured Interviews）的主观主义研究方法开展数据采集工作。数据分析与编码工作共提炼出四大核心主题，据此生成了扎根理论，这构成了本研究的知识贡献之一。该生成理论指出：在消费者主导的、追求创新便捷且独立的移动终端产品的压力下，当前银行的商业模式似乎难以为继；对此，银行与金融科技公司的深度协作是破局关键。该理论为实践建议提供了理论支撑，这些建议旨在助力银行应对眼前开放银行监管带来的变革性影响。此类建议以两阶段集成战略评审模型的形式呈现，帮助银行做出更科学明智的决策，以提升业务可持续性与系统稳定性。本研究同时为金融科技公司提供了实践建议供其参考借鉴。随着行业基于协作、降低系统成本、提升创新水平与实施适度监管，专门为满足消费者需求而重塑自身形态，消费者将从本研究提出的实践贡献中获益。尽管本研究未将监管者作为核心研究对象，但调研数据中涌现出诸多重要发现，本研究已对这些发现进行了系统呈现；同时，本研究还针对那些旨在针对金融科技公司带来的快速创新制定恰当监管应对方案的监管者，提供了一系列实践建议供其参考。