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Collaboration between Banks and FinTech Companies : An Assessment of Emerging Organizational Designs within

Persmoen, Ådne Karlsen; Sandvik, Eian
Master thesis
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URI
http://hdl.handle.net/11250/2578366
Date
2018
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  • Master of Science [1550]
Abstract
By studying how incumbent banks and FinTechs prepare for PSD2 we have assessed

what organizational designs that will emerge from collaboration between banks and

FinTechs in Norway. We have studied organizational design theory, to discover a

collaborative architecture where a closed network of banks, now is opened for third

parties such as FinTechs, through open API integrations. Using a qualitative case method,

interviewing 11 banks and FinTechs, and using a theoretical background from

Organizational Designs, Networks, Ecosystems, Crowdsourcing, Open Sourcing,

Collaborative Architecture and Disruptive Innovation we find that banks and FinTech

companies are at the learning stages of PS2 integrations through API’s.

The organizational designs that emerge will depend on how well the banks will be able

to facilitate for open API’s integrations. For the banks the type of organizational design

that will emerge will most likely depend who can attract the best and most (FinTechs) to

their platform. The platform with the largest network will be the keystone in the

ecosystems and will gain the network externalities and distribution power of the end

customers. What we are seeing is an organizational architecture that is largely built on

the same mechanisms as typical app stores that we have seen emerging in other industries.

We also argue that for the open API collaboration to function properly, it would rely on

the same mechanisms identified by Fjeldstad et al (2012) where independent actors

(FinTech) self-organize; use commons (the banks platform) where the actors share

resources, and rely on sets of protocols, processes and infrastructure which enable actors

to come together.While the incentives for collaboration for FinTechs to collaborate today

with banks are many, the innovation the FinTechs produce is harder to replicate than the

banks experience in marketing, compliance and other financial services. However, the

network that the banks have is very valuable to the FinTechs, but with the industry

opening for other large networks to enter, the banks must prove their position to become

the keystone platform.
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Masteroppgave(MSc) in Master of Science in Business, Strategy - Handelshøyskolen BI, 2018
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Handelshøyskolen BI

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