Conceptualization of e-business models in banking industry: Introducing an e-business pattern for emerging banks in Iran

Rapid growth of Information Technology has made inevitable changes in organization's business models. This paper aims to conceptualize e-business models in banking industry and present a coherent comprehensive pattern based on studies conducted on emerging banks in Iran. The case has been analyzed based on the methodology of "Grounded Theory". From findings of our research, a total of 112 categories appeared in open coding phase and 27 propositions in axial coding phase. The conceptual pattern of theresearch was finalized from the selective coding, and its validity was confirmed according to the reciprocating analysis of the data and the conclusion taken from holding the focus group. The model showed that the main category of the process is "the new value provided in electronic banking" which includes modern banking services arising from the nature of that models, weakness of the traditional banking models, lack of support and difficulties in appropriate use of modern technologies. Also, the study results in three outcomes of "virtual banking", "online self-service", and "improvement of future performance" in two general phases of "acceptance of electronic banking" and "selection of e-business model". Meanwhile, the background conditions of "individual's characteristics" and "organizational factors" as well as environmental conditions such as "financial intermediaries" and "insurers" were considered effective factors in this process.