Developing a Model of Factors Influencing Bank Customer Credit Evaluation Based on Blockchain Technology

Hossein  Norouzizadeh; Hamidreza Kordlouie; Hamidreza   Vakilifard; Mohammadhamed  Khanmohammadi

Authors

Hossein Norouzizadeh Department of Financial Management, SR.C., Islamic Azad University, Tehran, Iran Author https://orcid.org/0009-0005-3975-5325
Hamidreza Kordlouie Department of Financial Management, Isl.C., Islamic Azad University, Eslamshahr, Iran https://orcid.org/0000-0002-8131-6829
Hamidreza Vakilifard Department of Financial Management, SR.C., Islamic Azad University, Tehran, Iran Author https://orcid.org/0009-0007-5274-9880
Mohammadhamed Khanmohammadi Department of Accounting, Dam.C., Islamic Azad University, Damavand, Iran Author https://orcid.org/0000-0002-4944-0862

Keywords:

Credit Evaluation, Banking Customers, Blockchain Technology

Abstract

ABSTRACT

The purpose of this study was to develop a model of factors influencing bank customer credit evaluation based on blockchain technology. Accordingly, in terms of objective, this research is classified as an applied study, since in addition to contributing to scientific knowledge and theoretical understanding, it also provides practical implications for various companies and organizations, particularly banks. Considering its objective and nature, the study employed a qualitative research method. Furthermore, as the research aimed at model development, it followed an exploratory design. The qualitative phase adopted the grounded theory approach, implemented through expert interviews and three stages of coding, including open coding, axial coding, and selective coding. The findings indicated that transparency and trust functioned as causal conditions; adaptability and innovation emerged as core phenomena; security and privacy acted as intervening conditions; risk management improvement constituted the strategic responses; infrastructure and technology represented contextual conditions; and public acceptance and trust appeared as the primary outcomes of the proposed model.

Downloads

Download data is not yet available.

References

1. Jalili M, Khodaei Valehzaghar M, Kaneshlou M. Credit Scoring of Real Customers in the Country's Banking System. Quarterly Journal of Quantitative Studies in Management. 2023;1(3):127-48.

2. Jamshidi M. Determining and Ranking the Credit Scoring Indicators of Sepah Bank Customers. Quarterly Journal of Islamic Financial and Banking Studies. 2022;7(17):47-66.

3. Liu C, Xie J, Zhao Q, Xie Q, Liu C. Novel evolutionary multi-objective soft subspace clustering algorithm for credit risk assessment. Expert Systems with Applications. 2019;138:112827. doi: 10.1016/j.eswa.2019.112827.

4. Garanina T, Ranta M, Dumay J. Blockchain in accounting research: current trends and emerging topics. Accounting, Auditing & Accountability Journal. 2021. doi: 10.1108/AAAJ-10-2020-4991.

5. Abad-Segura E, Infante-Moro A, González-Zamar MD, López-Meneses E. Blockchain Technology for Secure Accounting Management: Research Trends Analysis. Mathematics. 2021;9:1631. doi: 10.3390/math9141631.

6. Alina Olaru E. The Impact of Blockchain on the Accounting Profession. Ceccar Business Review. 2021.

7. Mohammadi M. The Impact of Blockchain Characteristics on Banking Financial Innovations in Iran. Quarterly Journal of New Applied Studies in Management, Economics and Accounting. 2024;6(3):73-84.

8. Nouri Doabi P, Talebnia G. The Impacts of Blockchain Technology on the Accounting and Auditing Profession. Quarterly Journal of Technology Growth. 2024;19(2).

9. Amir Shekari N, Latifi Z, editors. The Role of Blockchain Technology in Facilitating the KYC Process in the Banking Industry. Proceedings of the 7th National Conference on Electronic Banking and Payment Systems; 2018 2018; Tehran: Monetary and Banking Research Institute.

10. Krampe T, Margaritella F. Blockchain and operational efficiency in the banking industry. Journal of Financial Technology. 2024;11(1):33-59.

11. Jahantigh S, Sepeheri F. Blockchain technology in the banking and accounting industry. 2024.

12. Zarei A, Modarresi M, Ebrahimi M. Factors affecting the use of blockchain technology in electronic banking services management (Case study: Mellat Bank). Industrial Technology Development Quarterly. 2024;22(57):35-50.

13. Farayola OA. Revolutionizing banking security: integrating artificial intelligence, blockchain, and business intelligence for enhanced cybersecurity. Finance & Accounting Research Journal. 2024;6(4):501-14. doi: 10.51594/farj.v6i4.990.

14. Paramesha M, Rane NL, Rane J. Artificial intelligence, machine learning, deep learning, and blockchain in financial and banking services: A comprehensive review. Partners Universal Multidisciplinary Research Journal. 2024;1(2):51–67. doi: 10.2139/ssrn.4855893.

15. Habib A, Ranasinghe D. Labor investment efficiency and credit ratings. Finance Research Letters. 2022;48. doi: 10.1016/j.frl.2022.102924.

16. Mutamimah M, Suryani A, Made Dwi A, editors. Credit Risk Management Innovation in Bank Based on Blockchain Technology. International Congress on Information and Communication Technology; 2024; Singapore: Springer Nature Singapore.

17. Rjoub H, Adebayo TS, Kirikkaleli D. Blockchain technology-based FinTech banking sector involvement using adaptive neuro-fuzzy-based K-nearest neighbors algorithm. Financial Innovation. 2023;9(65). doi: 10.1186/s40854-023-00469-3.

18. Xu R, Lin X, Dong Q, Chen T, editors. Constructing Trustworthy and Safe Communities on a Blockchain-Enabled Social Credit System. Proceedings of the 15th EAI International Conference on Mobile and Ubiquitous Systems: Computing, Networking and Services; 2018 2018.

19. Khan SA, Mubarik MS, Kusi-Sarpong S, Gupta H, Zaman SI, Mubarik M. Blockchain technologies as enablers of supply chain mapping for sustainable supply chains. Business Strategy and the Environment. 2022. doi: 10.1002/bse.3029.

20. Mangla SK, Kazançoğlu Y, Yıldızbaşı A, Öztürk C, Çalık A. A conceptual framework for blockchain-based sustainable supply chain and evaluating implementation barriers: A case of the tea supply chain. Business Strategy and the Environment. 2022;31(8). doi: 10.1002/bse.3027.

21. Hashemi Jouybari SR, Hosseini SM, Abedi H. An Integrated Framework of Artificial Intelligence and Blockchain for Enhancing Transparency and Efficiency in Financial Reporting and Auditing of Islamic Banks in the Digital Economy Context. 2025.

22. Zhang Y, Xiong F, Xie Y, Fan X, Gu H. The Impact of Artificial Intelligence and Blockchain on the Accounting Profession. IEEE Access. 2020;8. doi: 10.1109/ACCESS.2020.3000505.