The Evolution of Banks: From Traditional Business Models to the New Realities of Financial Ecosystem
Posted: 7 Jun 2021
Date Written: March 4, 2021
The chapter presents current issues of the banks’ business models innovative transformations. The topic is relevant for banks first of all from the economic science point of view, since until now the conceptual apparatus of not only the types of bank business models but also the definition of bank business models and their ecosystems remain controversial. However, in practice the applying of new strategic solutions is needed to solve the triune task: to ensure profitability of business while maintaining liquidity and minimizing risks.
The chapter presents controversial issues of theoretical understanding and practical application of bank business models; shows how the traditional financial markets are changing when innovative business models of modern banks are being introduced.
Keywords: innovation, technology, financial market, banks, business models, digital platform, ecosystem
JEL Classification: G1, G2, O3
Suggested Citation: Suggested Citation