Speaker: Dr. Priya Muthukannan
Title: Meeting the Challenge of Open Banking: The Development of Collaborative Dynamic Capabilities at Incumbent Banks.
Date: Thu, 28 March 2024
Time: 12:00pm – 2:00pm
Venue: Allan Barton Forum, Level 2, CBE Building 26C
ABSTRACT
Dynamic capabilities (DC) research emphasizes three key capabilities: Sensing capabilities, Seizing capabilities and reconfiguring capabilities. These capabilities capture the key themes in DC, reflected in its processes, practices and value creation mechanisms. While these key capabilities have been helpful in traditional contexts, we argue that the relevance and nature of the underlying assumptions in theorizing DC needs to be reinvestigated in the context of business ecosystem emergence and digital transformation. Based on a case study of DC development in traditional financial organisations undergoing digital transformation, we unpack incongruities related to applying the traditional key capabilities that point to the need to revamp the underlying assumptions guiding the capability development process. Consequently, we propose a process model which depicts the emerging complex relationship among antecedents, capabilities, outcomes, enablers and inhibitors in the context of Fintech emergence. We conclude by proposing new managerial approaches for DC development in digital transformation contexts.