In the country's banking system, whistleblowing as a formal and effective mechanism has not yet been fully implemented and requires the development of a model appropriate to the country's local conditions. In this study, a model of whistleblowing in the country's banking system was first presented in the qualitative part using a data-driven method. Accordingly, by conducting interviews with fourteen experts in the banking system, nine categories were identified based on the paradigm model as follows: supportive laws and policies and the creation of secure reporting mechanisms as "causal conditions", cultural infrastructure as "intervening conditions", social sensitivity as "contextual conditions", rapid and effective handling of violations and transparency as "interactive dimension", whistleblowing as a "centered phenomenon", and reducing violations and attracting capital as "consequence dimension". In the quantitative part, the model was tested by structural equation modeling. The results showed that supportive laws and policies, along with the establishment of secure reporting mechanisms, have a significant impact on whistleblowing. Also, whistleblowing significantly affects the acceleration and effectiveness of addressing violations and increasing transparency. In addition, cultural infrastructure also has a significant impact on the speed and efficiency of addressing violations and transparency. Social sensitivity to issues also plays a significant role in improving the rapid and effective handling of violations and promoting transparency. It was also found that the rapid and effective handling of violations has a significant impact on reducing violations and attracting capital. On the other hand, transparency also significantly reduces violations and increases capital.