OPEN BANKING SERVICE DEVELOPMENT STRATEGY TO ENHANCE DIGITAL ECOSYSTEM COLLABORATION

Abstract

Indonesia’s Open Banking sector has grown rapidly under the National Open API Payment Standard (SNAP). The Payment System Blueprint (BSPI) 2025/2030 and the 2022 Personal Data Protection Law have governance gaps affecting financial data integrity and regulatory compliance within banking accounting information systems (AIS). This study aims at mapping the ecosystem’s governance architecture, identifying external driving forces, and proposing reconfiguration strategies for digital collaboration. A qualitative case study design was used, drawing on ten purposively selected informants from industry associations, banks, and fintech Payment Service Providers, and analysed thematically using NVivo 15. Findings reveal a multi-layered orchestration structure: Bank Indonesia as macro-orchestrator, ASPI as a meso-actor Self-Regulatory Organization, banks as micro-orchestrators, and fintech as ecosystem enablers, connected through five value flows in which trust is the fundamental precondition. The study contributes an unmodelled meso-actor SRO layer to Business Ecosystem Architecture theory and seven grounded reconfiguration strategies for Indonesia’s Open Banking governance.