A Qualitative study of Possible Drivers and Barriers to Consumer Adoption of Open Banking Services
Nyström, Malena (2020)
Nyström, Malena
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020052513292
https://urn.fi/URN:NBN:fi:amk-2020052513292
Tiivistelmä
This qualitative study aims to generate insights on the possible drivers and barriers for con-sumer adoption of open banking third-party provider services, so-called challenger bank services. It addresses one research question: What are the possible drivers and barriers to consumer adoption of third-party open banking services? The main literature is the diffu-sion of innovations theory by Rogers (2003), the model for resistance to innovation by Ram and Seth (1989), as well as prior research on adoption of both technological banking services and open banking services. Semi-structured interviews were conducted for this study, and a thematic analysis was completed on the interview transcripts with eight re-spondents divided into three groups: experts, adopters and non-adopters. The findings of this study show seven possible drivers and eight possible barriers to consumer adoption of open banking third-party provider services, and said findings are reasonably matched with adoption of innovation theories and previous studies on the adoption of online and open banking services. The thesis also discusses managerial implications for third-party open banking service providers and traditional banks, as well as some limitations in the applied methodological approach.