Document Type : Original Article
Authors
1
PhD student, Business Management - Business Policy, Allameh Tabatabaei University, Tehran, Iran
2
Associate Professor, Department of Business Administration, Faculty of Management and Accounting,, Allameh Tabatabaei University, Tehran, Iran,
3
Associate Professor, Department of Business Administration, Faculty of Management and Accounting, Allameh Tabatabaei University, Tehran, Iran
Abstract
In the era of digital transformation, platform ecosystems, as environments for multilateral interactions among various stakeholders, play a fundamental role in reshaping business models and creating value. Despite possessing technological capabilities and innovation opportunities, Iran’s digital banking industry faces numerous challenges in fostering synergistic and co-evolutionary interactions among banks, fintech companies, regulatory institutions, and customers. Accordingly, the objective of this study is to explain and develop a co-evolutionary model for platform ecosystems in Iran’s digital banking sector.This research was conducted using a mixed-methods approach (qualitative–quantitative) and an exploratory–explanatory sequential mixed-methods design. In the qualitative phase, relevant concepts and components influencing co-evolution were first identified through a systematic literature review. Subsequently, key model components were extracted through semi-structured interviews conducted to the point of saturation with 15–20 experts in digital banking, fintech, and academia. Next, with the participation of 15 experts, the structural relationships among the components were analyzed to examine the driving and dependence power of each variable using the ISM and MICMAC methods.In the quantitative phase, data were collected from 300 managers, deputy managers, specialists, and experts of the National Bank of Iran working in selected branches across Tehran. The proposed model was then examined and validated using structural equation modeling based on SmartPLS and informed by the results of the MICMAC phase.The findings indicated that platform design and structure (with an emphasis on non-banking platforms), technological innovation (with a focus on generative artificial intelligence), security and privacy, and value co-creation are among the most important drivers shaping the co-evolutionary model. The analyses also identified the type, strength, and direction of the relationships among the model’s elements. Furthermore, the results demonstrated a satisfactory model fit and strong explanatory power for the study’s main constructs. Sensitivity analysis under critical conditions was also conducted. The proposed model, by explaining the mechanisms of co-evolution, can serve as a strategic tool for policymakers, bank managers, and fintech firms to strengthen innovation, enhance competitive advantage, and support the sustainable development of Iran’s digital banking ecosystem.
Main Subjects