In the banking industry, a variety of activities have been introduced as social banking. The purpose of this paper is to provide a comprehensive overview of social banking and identify the various approaches used in the area. The banking value chain model has been used to describe different approaches to social banking. This paper starts with a literature studying the various trends that have led to the formation of the concept of social banking, in the literature review section. In continue, social banking approaches are identified. Triangulation is used to ensure the validity of the research method; therefore, two different methods have been used to identify social banking approaches. In the first method, the grounded theory research method was used. In this process, the data obtained from the literature used, as well as conducting semi-structured interviews with subject matter experts in four different Iranian banks. In the second method, the clustering method was used and 49 global social banking experiences were clustered in terms of the type of impact on the value chain. The results of both methods led to the identification of four different approaches to social banking. Finally, these four approaches are described and it is specified how each of them affects each part of the bank’s value chain.


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