Development of a Framework for Strategic Collaboration between the Private Banking System and FinTechs in Iran

Document Type : Research Paper


1 PHD in Business Management, Faculty of Management and Accounting, University of Tehran, Iran.

2 Faculty Member, Faculty of Management and Accounting, University of Tehran, Iran.

3 Ph.D. in Entrepreneurship Management, School of Management. Index Research Institute of Isfahan University, Isfahan, Iran.


The fintech industry's financial activities have decreased the growth and territory of the Iranian private banks, and if new strategies are not adopted, their survival is threatened. The purpose of the research is to provide a strategic collaboration framework for the private banking system and the fintech industry. In this regard, using a qualitative research approach and a grounded theory strategy, 664 initial codes, 50 sub-categories, and 15 main categories were classified in the form of a paradigm model. Based on the research findings and according to the paradigm, environmental ambiguities of which, fintech industry’s seizing opportunity, digital customer behavior, customer needs assessment, customer knowledge of what fintech industry is, maintaining a competitive environment, Islamic financial principles and laws, and accurate valuation of businesses as causal conditions, on the one hand and on the other hand, the internal factors of the private banking system as intervention conditions are effective to pave the way for strategic collaboration between the parties.This strategic collaboration will lead to economic growth and financial, procedural, procedural, operational and communicational outcomes.


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Volume 9, Issue 1
June 2021
Pages 41-66
  • Receive Date: 11 March 2021
  • Revise Date: 26 May 2021
  • Accept Date: 10 June 2021
  • First Publish Date: 10 June 2021