The business model is of paramount importance in the life of any for-profit business – it is a tool for market success not only in cases of production companies, but also in the cases of financial institutions. However, the business model of monetary intermediaries, especially credit institutions, has its own peculiarities and it is accepted that the sustainability of the traditional banking business model can be affected by several factors. On the one side, it should be noted that changes in prudential regulation and potential legislative amendments have a direct impact on banking business models, since banks need to adapt their operating structures to the new requirements. In addition, the emergence of new market players and the use of their technology-based innovative financial solutions (such as crypto assets, blockchain technology and DLT, artificial intelligence or cloud services) may result in the differentiation of regulation, which together may lead to the development of new business models in the financial sector. On the other side, banks must become increasingly open to the use of digital technologies. With the entry into force of PSD2, open banking under a regulated framework will allow banks and the so-called FinTech service providers to be interconnected, thus expanding the product range of financial services, causing also the change of traditional financial business models. In the context of the above, the study examines banking business models in the light of regulatory responses to the 2008 economic crisis. With a particular focus on the role of technological innovation and its impact on banking business models, the study also examines the business model-shaping impact of innovative businesses in the financial sector and the differentiation of regulation.