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Open banking: A bibliometric analysis-driven definition

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  • Gorka Koldobika Briones de Araluze
  • Natalia Cassinello Plaza

Abstract

“Open banking,” as a concept, was initially developed by a UK regulation to foster competition in banking through sharing client data (with their consent) amongst competitors. Today, it is regulated in several most relevant banking jurisdictions. Despite its growing relevance, consensus about the definition of open banking is lacking. This study examines 282 articles on open banking using bibliometric clustering techniques. Moreover, within the 282 articles and applying discourse analysis, we analyze 47 idiosyncratic definitions of open banking to test an integral framework that supports our proposed definition of the concept. Our study contributes to the literature by providing a generalized multidisciplinary definition of open banking. It identifies four main drivers behind the concept: business model change, client data sharing, incorporation of technological companies (fintechs and others), and regulation. These four elements, which should be considered in new regulations in the globalized banking sector, foresee open banking as a critical enabler of a new strategic dynamic in banking.

Suggested Citation

  • Gorka Koldobika Briones de Araluze & Natalia Cassinello Plaza, 2022. "Open banking: A bibliometric analysis-driven definition," PLOS ONE, Public Library of Science, vol. 17(10), pages 1-19, October.
    • Handle: RePEc:plo:pone00:0275496
    DOI: 10.1371/journal.pone.0275496
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    References listed on IDEAS

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    1. Henri Arslanian & Fabrice Fischer, 2019. "Fintech and the Future of the Financial Ecosystem," Springer Books, in: The Future of Finance, chapter 16, pages 201-216, Springer.
    2. He, Zhiguo & Huang, Jing & Zhou, Jidong, 2023. "Open banking: Credit market competition when borrowers own the data," Journal of Financial Economics, Elsevier, vol. 147(2), pages 449-474.
    3. Xavier Vives, 2019. "Digital Disruption in Banking," Annual Review of Financial Economics, Annual Reviews, vol. 11(1), pages 243-272, December.
    4. Brijesh Sivathanu, 2019. "An Empirical Study on the Intention to Use Open Banking in India," Information Resources Management Journal (IRMJ), IGI Global Scientific Publishing, vol. 32(3), pages 27-47, July.
    5. DawnBurton, 2020. "Digital Debt Collection and Ecologies of Consumer Overindebtedness," Economic Geography, Taylor & Francis Journals, vol. 96(3), pages 244-265, July.
    6. Guibaud, Sophie, 2016. "How to develop a profitable, customer-focused digital banking strategy: Open banking services and developer-friendly APIs," Journal of Digital Banking, Henry Stewart Publications, vol. 1(1), pages 6-12, May.
    7. Ross P. Buckley & Douglas W. Arner & Dirk A. Zetzsche & Rolf H. Weber, 2020. "The road to RegTech: the (astonishing) example of the European Union," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(1), pages 26-36, March.
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    Cited by:

    1. Ana Maria Barbosa Casolaro & Gabriela Nogueira Rauber & Ursula Silveira Monteiro Lima, 2025. "Open banking: a systematic literature review," Journal of Banking Regulation, Palgrave Macmillan, vol. 26(3), pages 340-355, September.

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