BUSINESS MODELS IN BANKING BUSINESS: SYSTEMATIC LITERATURE REVIEW AND RESEARCH AGENDA

The purpose of paper is (1) to systematize the existing developments in this topic (pointing out the main sub-streams of past research), and (2) to identify knowledge gaps concerning methods, theories, and constructs based on the compiled information and to provide detailed directions for future research.The research was conducted based on bibliometric review and framework-based review categories in domain-based methodology.Results and main contribution of the paper: The main sub-streams of past research are cooperative banks; crisis, stability, supervisory and risk; ESG; financial performance; innovation; and Islamic banking. Research gaps that can become areas of future scientific research are (1) the significance and the impact on banking business models such issues as geopolitical factors, innovations, pandemics and other “black swans”, current ESG trends and regulations; (2) the development of a methodology for a composite indicator of the effectiveness of business models and theoretical foundations of banking business modeling.