The purpose of this study is to identify which dynamic capabilities are relevant in platform ecosystem development and how established and challenger banks differ in this process.
The methodology comprises a qualitative approach based on multiple case studies.
The outcomes reveal that organizational culture can favor dynamic capabilities in platform ecosystems. However, the coexistence of numerous organizational cultures in incumbents can be harmful, requiring them to strengthen integrative and dynamic managerial capabilities. Incumbents can benefit from joint orchestration of entrepreneurial and platform ecosystems. The capabilities for establishing strategic alliances and M&A operations can foster platform ecosystems development.
The study provides managers with a deeper understanding of how to lead their companies toward a platform ecosystem model, which can also improve user experience and access to financial services.
The study addresses a relevant and underexplored topic, offering new insights into platform ecosystems through the lens of dynamic capabilities. It includes a comprehensive analysis of the main differences between incumbents and new entrants in the development of platform ecosystems, which is valuable for both academics and practitioners. Regulators can also benefit from a better understanding of the phenomenon.
