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Entry Barriers and Opportunities for Fintechs in Open Banking Platforms

Mansour, Osama LU (2025)
Abstract
The revised Payment Services Directive (PSD2) is reshaping traditional banking by requiring banks to grant licensed third-party providers (TPPs) access to customer data. This paper explores PSD2’s impact on Fintech market entry, assessing both opportunities and ongoing structural barriers. Through a qualitative investigation, it identifies key barriers such as API standardization gaps, data access dependencies, and incumbent banks' strategic resistance. Simultaneously, it underscores emerging opportunities for Fintechs to gain market share and foster innovation. The findings suggest early signs of broader transformation, with both Fintechs and incumbents moving towards platform-based business models. The paper advances our understanding of... (More)
The revised Payment Services Directive (PSD2) is reshaping traditional banking by requiring banks to grant licensed third-party providers (TPPs) access to customer data. This paper explores PSD2’s impact on Fintech market entry, assessing both opportunities and ongoing structural barriers. Through a qualitative investigation, it identifies key barriers such as API standardization gaps, data access dependencies, and incumbent banks' strategic resistance. Simultaneously, it underscores emerging opportunities for Fintechs to gain market share and foster innovation. The findings suggest early signs of broader transformation, with both Fintechs and incumbents moving towards platform-based business models. The paper advances our understanding of digital platform regulation and governance and the emergence of digital ecosystems.
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Please use this url to cite or link to this publication:
author
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
in press
subject
keywords
Market entry, Fintech, Open Banking, Digital platforms, PSD2
host publication
The Hawaii International Conference on Systems Sciences
project
Digital Societies
language
English
LU publication?
yes
id
39004c2b-955f-4189-84cc-404f285f48f9
date added to LUP
2025-09-10 11:48:19
date last changed
2025-10-15 13:04:52
@inproceedings{39004c2b-955f-4189-84cc-404f285f48f9,
  abstract     = {{The revised Payment Services Directive (PSD2) is reshaping traditional banking by requiring banks to grant licensed third-party providers (TPPs) access to customer data. This paper explores PSD2’s impact on Fintech market entry, assessing both opportunities and ongoing structural barriers. Through a qualitative investigation, it identifies key barriers such as API standardization gaps, data access dependencies, and incumbent banks' strategic resistance. Simultaneously, it underscores emerging opportunities for Fintechs to gain market share and foster innovation. The findings suggest early signs of broader transformation, with both Fintechs and incumbents moving towards platform-based business models. The paper advances our understanding of digital platform regulation and governance and the emergence of digital ecosystems. <br/>}},
  author       = {{Mansour, Osama}},
  booktitle    = {{The Hawaii International Conference on Systems Sciences}},
  keywords     = {{Market entry; Fintech; Open Banking; Digital platforms; PSD2}},
  language     = {{eng}},
  title        = {{Entry Barriers and Opportunities for Fintechs in Open Banking Platforms}},
  year         = {{2025}},
}