The impact of data monetization in business models

: a study on the Portuguese banking industry

Abstract

This thesis investigates the growing importance of Data Monetization in the business models of banking institutions. It explores the viability of innovative solutions based on data-driven business models, including Data Monetization, as well as analyzing the effects of business model innovation and digital transformation on these approaches. In addition, the study analyses barriers to their implementation, such as strict regulatory frameworks, the need for employees to acquire new technical skills, the requirement for agile infrastructures capable of managing the high volume of bank data and the low data-oriented culture that prevails in these organizations. The research methodology included ten qualitative interviews which, after thorough analysis, led to a number of conclusions. The influence of Data Monetization on banks' sources of revenue is undeniable, even though it is not their main source of income. The considerable impact these solutions have underlines a significant business opportunity for banking institutions. Given the disruptive nature of this domain, rapid adoption could confer a competitive advantage. On the other hand, the value of this domain also means the potential expansion into financial services of new competitors, including large technology or retail companies. This research underlines the current and prospective value of data for banks and other companies, thus revealing research topics that can elucidate or add to the existing body of knowledge on Data Monetization, a field considered to be under-explored.

Date of Award	10 May 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Filipa Andrêa Godinho de Lancastre Serpa Pinto (Supervisor)