The Role of IT in Transforming a Platform Business Model: a Case Study in PT XYZ

Financial digitalization in the world of education enables transparency, accountability, and good financial management for educational institutions to develop better education services. PT XYZ is one of Financial Technology (FinTech) company in Indonesia which provide bill management platform for education institution. The platform integrates multiple payment channels such as banks, mobile wallets, retails, and other bill aggregators to provides a noncash tuition payment for parents of students. This study analyzed the business model strategy and the role of IT in transforming a platform business model of PT XYZ from a host to host digital payment implementer to a company that provide a bill management and payment platform for educational institutions by implementing Software as a Service (SaaS). This study used qualitative methods by conducting literature studies, observation, and semi-structured interviews. The result showed that PT XYZ has created a new market positioning, product positioning and business network positioning by enhancing existing strategy and capability to expand their business.