علی اکبر ارسنجانی

With advanced information and communication technology, the organizations’ business model has undergone fundamental changes. These changes are also observed in the banking industry. This research aims at explaining the Iranian electronic banking business model and recognizing its challenges in the transformation to digital banking, which is considered as the research innovation. In terms of method, the present research is a qualitative study and in terms of goal, it is primary research. In this research, grounded theory has been used as a systematic method for the investigation of complex multilateral issues. The population includes the expert managers of the banking industry who have mastery over macro policies of banking and electronic payment in Iran. Regarding the research method, all the interviews were recorded and converted to text. The coding and classification process was done based on three stages of open coding, axial coding, and selective coding. The outputs of these three stages were provided in the form of codes, concepts, and categories. During and after data collection, the data were reviewed for several times, the key points were specified, and the related codes were counted. Finally, 761 codes, 26 concepts, and 14 categories related to the research topic were identified based on which, the conceptual business model of Iranian electronic banking was developed. Based on the conceptual model of the research, seven challenges for digital banking transformation were identified.