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Banking-as-a-Service and the transformation of the finance industry: An empirical investigation

Tuoma, Petrus Aleksi LU and Ekegren, Walter Edward LU (2021) INFM10 20211
Department of Informatics
Abstract
This thesis aims to provide a deeper look into the current status of Banking-as-a-Service through digital ecosystems, digital platforms and API economy. Research was conducted as qualitative research, which had a purpose of examining the lightly researched concept of Banking-as-a-Service, and shed light on what is the current status of Banking-as-a-Service by pondering its benefits and disadvantages. The topic was approached from the perspectives of business, technology, and legislation. It turned out that most of the current benefits that Bank-ing-as-a-Service creates, are business benefits, but most of the disadvantages are in the context of technology and legislation. At the moment it can be said that there exists a variety of... (More)
This thesis aims to provide a deeper look into the current status of Banking-as-a-Service through digital ecosystems, digital platforms and API economy. Research was conducted as qualitative research, which had a purpose of examining the lightly researched concept of Banking-as-a-Service, and shed light on what is the current status of Banking-as-a-Service by pondering its benefits and disadvantages. The topic was approached from the perspectives of business, technology, and legislation. It turned out that most of the current benefits that Bank-ing-as-a-Service creates, are business benefits, but most of the disadvantages are in the context of technology and legislation. At the moment it can be said that there exists a variety of understandings regarding what exactly Banking-as-a-Service is seen as. Our results bring many new and interesting perspectives to the table, and it can be said that the more and deeper we dive into the whole of what Banking-as-a-Service includes, the more there is width and possibilities, but also disadvantages and immaturity. At the moment the ultimate meaning of Banking-as-a-Service depends on how it is packaged and what it contains, as it is mostly provided for trusted partners, and other actors may then use the APIs according to what the PSD2 enables. (Less)
Please use this url to cite or link to this publication:
author
Tuoma, Petrus Aleksi LU and Ekegren, Walter Edward LU
supervisor
organization
course
INFM10 20211
year
type
H1 - Master's Degree (One Year)
subject
keywords
Banking-as-a-Service, Digital Banking, Digital Ecosystems, Digital Platforms, API Economy.
report number
INF21-057
language
English
id
9053388
date added to LUP
2021-06-21 12:23:00
date last changed
2021-06-21 12:23:00
@misc{9053388,
  abstract     = {{This thesis aims to provide a deeper look into the current status of Banking-as-a-Service through digital ecosystems, digital platforms and API economy. Research was conducted as qualitative research, which had a purpose of examining the lightly researched concept of Banking-as-a-Service, and shed light on what is the current status of Banking-as-a-Service by pondering its benefits and disadvantages. The topic was approached from the perspectives of business, technology, and legislation. It turned out that most of the current benefits that Bank-ing-as-a-Service creates, are business benefits, but most of the disadvantages are in the context of technology and legislation. At the moment it can be said that there exists a variety of understandings regarding what exactly Banking-as-a-Service is seen as. Our results bring many new and interesting perspectives to the table, and it can be said that the more and deeper we dive into the whole of what Banking-as-a-Service includes, the more there is width and possibilities, but also disadvantages and immaturity. At the moment the ultimate meaning of Banking-as-a-Service depends on how it is packaged and what it contains, as it is mostly provided for trusted partners, and other actors may then use the APIs according to what the PSD2 enables.}},
  author       = {{Tuoma, Petrus Aleksi and Ekegren, Walter Edward}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Banking-as-a-Service and the transformation of the finance industry: An empirical investigation}},
  year         = {{2021}},
}