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Innovation mechanisms of fintech start-ups: insights from SWIFT Innotribe competition

Gozman, Daniel, Liebenau, Jonathan and Mangan, Jonathan (2018) Innovation mechanisms of fintech start-ups: insights from SWIFT Innotribe competition. Journal of Management Information System, 35 (1). pp. 145-179. ISSN 0742-1222

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Identification Number: 10.1080/07421222.2018.1440768

Abstract

The emergence of nascent forms of financial technology around the globe is driven by efforts to de-construct and reimagine business models historically embedded within financial services. Entrepre-neurial endeavors to this end are diverse. Indeed, the propensity towards complexity across the fintech landscape is considerable. Bridging as it does a diverse range of financial services, markets, innova-tions, industry participants, infrastructures and technologies. This study aims to improve the compre-hension of the global fintech landscape. It is based on the analysis of start-ups who participated in SWIFT’s Innotribe competition over a three-year period. We used cluster analysis to group 402 fintech start-up firms, and then selected representative cases to create a foundational understanding of the structure of the fintech landscape. We found that six clusters capture the variety of firms and their activities. The main findings of this work are: (1) the development of fintech clusters to classify core services, business infrastructures and underlying component technologies, which characterize the fintech landscape; (2) an analysis of how fintechs synthesize different technologies to restructure and coordinate flows of financial information through competitive and cooperative mechanisms of disin-termediation, extension of access, financialization, hybridization and personalization; (3) an analysis of related strategies for value creation connected with the competitive and cooperative mechanisms that were identified. Collectively, our results offer new insights into the diversity and range of emer-gent innovations and technologies which are transforming the financial services industry worldwide.

Item Type: Article
Official URL: http://www.tandfonline.com/pricing/journal/mmis20
Additional Information: © 2018 Taylor & Francis Group, LLC
Divisions: Management
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HG Finance
T Technology > T Technology (General)
Sets: Departments > Management
Date Deposited: 22 Jan 2018 14:57
Last Modified: 20 Aug 2019 00:07
URI: http://eprints.lse.ac.uk/id/eprint/86495

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