Viability Assessment of Bank-associated Crowdfunding Platform: A Viable System Model Approach
Penilaian Daya Maju Platform Pendanaan Awam berkaitan Bank: Pendekatan Model Sistem Berdaya Maju

Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM, Bangi Selangor, MALAYSIA

marianiukm@yahoo.co.uk

Islamic Finance and Wealth Management Institute (IFWMI)
Faculty of Economics and Muamalat
Universiti Sains Islam Malaysia
Nilai, Negeri Sembilan, Malaysia

ka@usim.edu.my

Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM, Bangi Selangor, MALAYSIA

hanisahmohdsobre@gmail.com

Abstract

This study examines the viability of a bank-associated crowdfunding platform, specifically a form of equity crowdfunding. It diagnoses the platform’s operation and information flow as a complex organization involving multiple agencies, employing the Viable System Model (VSM) framework as a diagnostic tool to assess operations, identify problems, and evaluate viability. Interviews were conducted with small and medium enterprises (SMEs) as platform users, the platform managers, and the banker. The findings demonstrate that the platform possesses elements of viability but lacks a dedicated unit to perform intelligence functions – specifically, the collection of information from the environment for integration into the system. While some information flows from the system to the environment, they are limited. Additionally, there is an absence of information flow between intelligence and control, between intelligence and policymaking, and vice versa. The results also highlight the central role of Islamic banks within the platform. This study contributes to the literature by developing a diagnostic framework that integrates the principles of VSM with those of crowdfunding platforms. The findings highlight the need to institute an integrated platform intelligence function and to ensure effective information flows among system functions in managing environmental variety.

Keywords

crowdfunding platform; diagnostic framework; Intelligence function; Islamic banks; small-medium enterprises (SME); viable system model
https://doi.org/10.17576/pengurusan-2025-74-10

Citation

Abdul-Majid, M., Adham, K. A., & Mohd-Sobre, H. (2025). Viability Assessment of Bank-associated Crowdfunding Platform: A Viable System Model Approach. Jurnal Pengurusan, 74, –. https://doi.org/10.17576/pengurusan-2025-74-10

@article{viability2025majid,
  title={Viability Assessment of Bank-associated Crowdfunding Platform: A Viable System Model Approach},
  author={Abdul-Majid, Mariani and Adham, Khairul Akmaliah and Mohd-Sobre, Hanisah},
  journal={Jurnal Pengurusan},
 

volume={74},
  number={},
  pages={—},
  year={2025},
  doi={https://doi.org/10.17576/pengurusan-2025-74-10},
  publisher={Penerbit UKM},
}

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74 (2025) –

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