Qualitative Model of Collaboration between Banking system and Fintech Companies : A Grounded Theory Approach

The expansion of conventional commercial banking from 1960s and 1970s gradually gained significant pace due to the development of digital industry, the increase of innovations in the banking sector and an accumulative utilization of the capabilities of scientists in the field of information technology. Over the past three decades, Iran's banking system has recognized Fintechs and has gradually turned from confronting and competing with Fintechs to cooperation and collaboration with them. In this article, in order to achieve a solid frame work of how the interactions and cooperation of Iran's banking system and Fintech companies are related to the determination and development of a comprehensive model, contributions to detailed studies has finally concluded to the necessity of using a strategic and flexible cooperation approach, in the structuring of collaboration between the banking system and Fintech companies. In this research, which is of a qualitative type, in order to provide a paradigmatic qualitative model based on grounded theory approach, 14 of best local experts were interviewed and Atlas T software, was used to present the results. The results of this research can not only be used by experts, activists and policy makers in this field to evaluate the consequences and trace optimal strategic interactions in the country's banking system, but also clearly show the necessity of entering into strategic collaboration between banking system and Fintech companies.