An integrated platform business model for financial service integration in banking groups

Authors

1 Department of Finance and Risk Management, Faculty of Management and Financial Sciences, Khatam University, Tehran, Iran.

2 Department of Management. Sanandaj University, Sanandaj, Iran.

3 Department of Banking, Higher Institute of Banking of Iran.

4 Department of Finance and Risk Management, Faculty of Management .and Financial Sciences, Khatam University, Tehran, Iran

Abstract
Purpose: This study aims to design and validate a platform business model for a banking and financial group and addresses the critical gap regarding the lack of an integrated framework that enables synergy, coordination, and value co-creation across multiple financial subsidiaries.
Methodology: A mixed-method approach was employed. First, a Systematic Literature Review (SLR) was conducted to extract conceptual components of platform-based business models. These components were validated through expert judgment from 23 senior professionals in digital banking and fintech. Subsequently, structural relationships were analyzed using DEMATEL, hierarchical layers were identified through Interpretive Structural Modeling (ISM), and the relative importance of components was calculated using DANP.
Findings: Results show that platform governance and core operational components, such as value proposition, channels, and key activities, play the most critical role in the model. Governance-related elements, including data governance and the Regulator, act as overarching constraints that shape how the platform ecosystem operates.
Originality/Value: The proposed model offers a comprehensive framework for designing platform-based business architectures in financial groups. It highlights that synergy among financial subsidiaries is achievable only when the governance and data layers are effectively developed and when customer experience is designed end-to-end and personalized.

Keywords

Subjects


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