Open Access

ARTICLE

Fuzzy Decision Model: Evaluating and Selecting Open Banking Business Partners

by Ngo Quang Trung, Nguyen Van Thanh^*, Nguyen Viet Tinh, Syed Tam Husain

Faculty of Commerce, Van Lang University, Ho Chi Minh City, 70000, Vietnam

* Corresponding Author: Nguyen Van Thanh. Email:

Computers, Materials & Continua 2022, 72(3), 4557-4570. https://doi.org/10.32604/cmc.2022.022417

Received 06 August 2021; Accepted 07 September 2021; Issue published 21 April 2022

Abstract

The finance supply chain has always been a different supply chain compared to product supply chain being a service supply chain. Open Banking (OB) is one of the most important milestones since the beginning of financial technology innovation and service supply chain. As these are activities provided by traditional banks, non-bank financial institutions also provide financial service with access to consumer banking, transactional and other financial data to develop financial applications and services tailored to their customers. The development of financial technology, “Open banking”, promotes financial services to begin this transformation. However, evaluating and selecting open banking business partners from multiple perspectives for banks are underexplored. Thus, the authors in this research proposed a hybrid multi-criteria decision-making model which includes a Spherical Fuzzy Analytical Hierarchy Process (SF-AHP) model and a Multi-Attributive Ideal-Real Comparative Analysis (MAIRCA) model with supports from seasoned domain experts. The contribution of this research is a proposition of a fuzzy decision model for evaluating and selecting open banking business partners. The model successfully determined a suitable open bank provider in order to assist decision makers decide objectively.

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Keywords

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