Designing a model to management the strategic alliance of bank and fintech

Document Type : Original Article

Authors
soodeh shahrokhi 1
mohammadreza kabaranzad ghadim 2
Jamshid Edalatian Shahriari 3
1 PhD student, Department of Business Management and Entrepreneurship, Faculty of Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
2 Associate Professor, Department of Industrial Management, Information Technology and Technology, Faculty of Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
3 Associate Professor, Department of Business Management and Entrepreneurship, Faculty of Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
10.30495/jik.2024.77886.4588
Abstract
Nowadays, due to the increasing acceptance of digital banking services by customers, creating and providing this type of service is considered as a competitive advantage. Banks do not have the required technologies and receive services from companies that have up-to-date financial technology. There are various strategies to receive these services, one of which is the strategic alliance of the bank and fintech. The problem that exists in between is how banks manage this alliance so that they can provide the best banking services to their customers through financial technology companies. This research was conducted with the aim of designing a management model for the strategic alliance of banks and fintech. To design the model, the combined theme-factor analysis approach is used and the statistical population of the research is senior managers of Refah Kargaran Bank and managers of fintech companies in Tehran province. The interpretive structural modeling (ISM) method was used to extract the initial model, the partial least square (PLS) method was used to test the initial model, and in the final step, the final model was confirmed and presented. According to the findings of the research, the strategic alliance management model of banks and fintechs includes 8 main themes consisting of characteristics of the macro environment, characteristics of the banking industry environment, characteristics of the competitive environment, characteristics of the internal environment, motives for forming alliances, form Getting a strategic alliance and managing a strategic alliance has 25 sub-themes and 44 concepts. The results of this research can help banks to play a significant role in the effective management of strategic alliances with fintechs.
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