Taming the Beast: A Scientific Definition of Fintech

Schueffel, Patrick

doi:10.24840/2183-0606_004.004_0004

Cited by 403 publications

(236 citation statements)

References 16 publications

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“…Figure 1 presents these three components whereas Table 1 summarizes most well -known definitions from different international organization, governmental "regulators," and scholars. CFO/Ps consider as part of the broader universe of financial innovations enabled by technological advancements (European Commission, 2017) that is known as Financial Technology (FinTech): a new financial industry that applies technology to improve financial activities (Schueffel, 2016). CFO/Ps are specifically part of FinTech's subgroup named alternative finance that is defined as financial channels and instruments that have emerged outside of the traditional finance system such as regulated banks and capital markets (CCFA, 2015).…”

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confidence: 99%

Crowdfunding operations: Outreach factors in developing economies

Samarah

Alkhatib

2019

Journal of Public Affairs

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This study aims to explore factors that contribute to the outreach of crowdfunding platforms in developing economies. Specifically, it aims to examine the perspectives of experts, funders, and fundraisers to provide several applicable recommendations to accelerate the outreach. An initial framework has been developed to fit with the developing economies; experts from Jordan were meet to validate the framework suitability; two questionnaires were developed for funders and fundraisers; crowdfunding experts from more than 10 countries worldwide reviewed and validated the methodology and the questionnaires; 833 questionnaires were collected, coded, and analyzed; analysis and statistical tests validated by statistical academic and analysis specialists. Outcomes affirm the importance of crowdfunding outreach proposed factors in developing economies with a variation between concerned parties: Experts emphasize “supervision and a regulatory framework”; funders focus on “Openness and Transparency”; and fundraisers focus on “Financial Knowledge” as essential factors to the outreach of these platforms. This study focused on the “Debit ‐based” and “Equity ‐based” crowdfunding platforms. Therefore, some findings may not be generalized to the “Donation ‐based” and “Reward ‐based” platforms. Several applicable recommendations have been suggested.

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confidence: 99%

Crowdfunding operations: Outreach factors in developing economies

Samarah

Alkhatib

2019

Journal of Public Affairs

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“…For firms and society, innovation represents growth and advances. An investigation by Schueffel (2016) found the term "financial technology" to be broadly applied and to describe innovation in the financial sector, using semantic analysis the author finds the most common definition to be "a new financial industry that applies technology to improve financial activities." While this study helps define the ever-broadening term of financial technology, more importantly, it distinguishes the role of financial technology as an industry.…”

Section: Introductionmentioning

confidence: 99%

“…Inspired by the definition set forth by Schueffel (2016), we define Financial Technology firms as information technology, software, or research services firms, that describe themselves in their business description as working as or serving as financial institutions, banking, financial services, wealth management, finance, or payment services. In addition, due to data limitations, we primarily investigate publicly traded firms available in Compustat.…”

Section: Introductionmentioning

confidence: 99%

Trends in Financial Innovation: Evidence from Fintech Firms

Unsal¹,

Rayfield²

2019

International Finance Review

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In 1971, the patent for the Automated Teller Machine (ATM) was awarded to David Wetzel. While possibly not the first application of financial technology, since 1971 time, the innovation in the financial industry has grown beyond expectations. However, most studies in innovation ignore the financial sector altogether. In this study, we investigate financial technology firms and innovation. After identifying firms that are considered financial technology, we collect innovation outcomes such as patents and data breaches associated with those firms. We show that patent activity has enjoyed modest growth year over year, however firms still have challenges to overcome such as market risk and data security. This study serves as a perspective on financial technology. . Dr. Unsal's research is mainly focused on issues related to corporate governance. He investigates whether political contributions, lobbying spending and campaign donations contributes to shareholder wealth. He also researches various types of lawsuits including labor, patent, environmental, securities and antitrust cases to examine how legal challenges influence corporate governance practices.

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“…Financial technology or fintech is a frequently used word today among professionals and academic researcher too, and it becomes more and more popular as Google search data confirms (see Graph 1). Fintech is described as a new industry that applies technology to improve financial activities (Schueffel 2016) which induces digital transformation in the banking sector. Financial technology as a research topic is current and relevant and has many potential directions (Gomber et al 2017).…”

Section: Introductionmentioning

confidence: 99%

Customer Value Creation in the Financial Services Industry

Csepy¹,

Aranyossy²

2019

Managing Geostrategic Issues

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Financial technology (fintech) -as the recent technology driven digital transformational force in the financial services industry -is a currently popular research topic amongst academic and practical experts. The research area has many directions, however, the authors identified that there is a lack in the existing academic literature regarding the customer value creation power of the fintech novelties. Customer value as a term appeared at the end of the 20th century in the strategic management and marketing literature and since then it is a well-researched phenomenon. Regarding the customer value creation and analysis there has been an extensive literature established by researchers elaborating its definition and key concepts for in-depth understanding. The most cited interpretation of customer's perceived value comes from Zeithaml as "the customer's overall assessment of the utility of a product based on what is received and what is given" (Zeithaml 1988, 14).The aim of the authors is to provide a systematic review of the existing academic literature related to the customer value creation in the financial services industry. The analysis concluded enables the authors to build a conceptual framework for further empirical research to investigate the customer value creation of the financial technology innovations.The authors conducted a systematic literature search using the EBSCO discovery service with multiple databases, looking for academic articles written in English language only. 59 articles were reviewed after the data cleaning process to perform exploratory bibliometric analysis and quantitative content analysis including word cloud analysis.The analysis of the selected articles resulted in a summary of existing research regarding the research themes and related disciplines of the field. Based on the results of the literature review research gaps were identified and further directions were addressed which can be useful for other researchers interested in the field.

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Taming the Beast: A Scientific Definition of Fintech

Cited by 403 publications

References 16 publications

Crowdfunding operations: Outreach factors in developing economies

Crowdfunding operations: Outreach factors in developing economies

Trends in Financial Innovation: Evidence from Fintech Firms

Customer Value Creation in the Financial Services Industry

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