The Age of FinTech: Implications for Research, Policy and Practice

Mention, Anne‐Laure

doi:10.1142/s2705109920500029

Cited by 23 publications

(13 citation statements)

References 60 publications

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“…Intriguingly, despite the promising value proposition highlighted in the literature by Luo, Tang, Kim, and Wang (2022), Abdikerimova and Feng (2022), Levantesi and Piscopo (2022), Klausser et al. (2022) and Mention (2021), consumers continue to lean towards the familiarity and perceived reliability of traditional models, including short-term insurance models. This persistence highlights the robust influence of these critical factors in shaping consumer preferences and choices.…”

Section: Discussionmentioning

confidence: 99%

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Investigating factors that affect the willingness to adopt peer-to-peer short-term insurance in South Africa

Dörfling,

Godspower-Akpomiemie

2023

DTS

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PurposeThis study aims to identify the propensity for clients (legal and natural persons) to adopt peer-to-peer (P2P) short-term insurance policies as opposed to traditional and/or centralized short-term.Design/methodology/approachIn this paper data was collected through a survey of 102 sampled short-term insurance clients using convenience sampling. The TAM2 questionnaire was adapted to evaluate the intention to adopt a P2P insurance policy.FindingsThe findings of this study shed light on the factors influencing the adoption and (dis)continuation of short-term insurance products, both traditional and digital, among South African consumers. The results demonstrate that perceived usefulness, ease of use, trust, risk perception and subjective norm play crucial roles in individuals' intention to use or (dis)continue the use of these insurance products.Practical implicationsThe study's findings provide actionable insights for practitioners in the short-term insurance sector, with a focus on marketers and e-commerce professionals. These insights emphasize the need to prioritize user-friendly design and trust-building measures in the development of P2P insurance systems. Additionally, practitioners should consider harnessing the power of social influence and carefully balancing innovative features with familiarity in their marketing efforts. These strategies are poised to enhance the adoption and competitive positioning of P2P insurance solutions amidst the evolving landscape of digital transformation.Originality/valueThis study makes a substantial contribution by employing the technology acceptance model (TAM) in a novel and unconventional manner. It not only explicates the intricate dynamics governing the adoption and discontinuation of short-term insurance products, encompassing both conventional and digital alternatives, within the South African consumer milieu but also extends its purview to infer the reasons behind the limited widespread adoption of the digital counterpart, despite its superior value proposition compared to the traditional offering. The findings elucidate the critical determinants shaping individuals' decisions in this dynamic market segment. This research enhances the global discourse on insurance adoption with a unique South African perspective and furnishes insurers and marketers with empirically grounded insights to optimize their strategies and cultivate substantive connections with their target demographic.

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Section: Discussionmentioning

confidence: 99%

“…(2022), Abdikerimova and Feng (2022), Levantesi and Piscopo (2022), Klausser et al. (2022) and Mention (2021).Through clear and persuasive messaging, these providers can empower individuals to make informed choices that align with their evolving needs and preferences in the realm of insurance.…”

Section: Discussionmentioning

confidence: 99%

Investigating factors that affect the willingness to adopt peer-to-peer short-term insurance in South Africa

Dörfling,

Godspower-Akpomiemie

2023

DTS

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“…Similarly, our findings reveal that VCs not only play the role of financial and knowledge capital providers but also mediate access to non-local networks, including regulatory authorities. In so doing, they may help fintechs overcome a primary cause of failure by successfully deploying their solutions beyond national boundaries (Mention, 2020). This latter function of VCs is merely explored in the existing management literature (Clayton et al, 2018) and merits much more detailed study.…”

Section: Discussionmentioning

confidence: 99%

Ecosystem dynamics: exploring the interplay within fintech entrepreneurial ecosystems

2021

Self Cite

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Scholars and practitioners continue to recognize the crucial role of entrepreneurial ecosystems (EEs) in creating a conducive environment for productive entrepreneurship. Although EEs are fundamentally interaction systems of hierarchically independent yet mutually dependent actors, few studies have investigated how interactions among ecosystem actors drive the entrepreneurial process. Seeking to address this gap, this paper explores how ecosystem actor interactions influence new ventures in the financial technology (fintech) EE of Singapore. Guided by an EE framework and the use of an exploratory-abductive approach, empirical data from semi-structured interviews is collected and analyzed. The findings reveal four categories representing both the relational perspective, which features interaction and intermediation dynamics, and the cultural perspective, which encompasses ecosystem development and regulatory dynamics. These categories help explain how and why opportunity identification and resource exploitation are accelerated or inhibited for entrepreneurs in fintech EEs. The present study provides valuable contributions to scholars and practitioners interested in EEs and contributes to the academic understanding of the emerging fintech phenomenon.

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“…Undoubtedly Fintech has caused shifts in how "[f]inancial services are perceived, developed, promoted, delivered and consumed" (Mention, 2021). DeFi will further intensify this development as it is bound to introduce a wealth of innovations to the financial services sector.…”

Section: Discussionmentioning

confidence: 99%

DeFi: Decentralized Finance - An Introduction and Overview

Schueffel

2021

jim

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DeFi, short for decentralized finance, is a new paradigm that enjoys increasing popularity in the financial world. DeFi posits that financial services should not rely on centralized intermediaries but should be provided by users for users. This is done by deploying software components to a decentralized peer-to-peer system which is grounded on blockchain technology. This introductory text discusses the origins of DeFi and delineates DeFi characteristics from those of traditional finance. Several examples of DeFi applications are given, the disadvantages resulting from this paradigm are discussed, and an outlook is provided.

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The Age of FinTech: Implications for Research, Policy and Practice

Cited by 23 publications

References 60 publications

Investigating factors that affect the willingness to adopt peer-to-peer short-term insurance in South Africa

Investigating factors that affect the willingness to adopt peer-to-peer short-term insurance in South Africa

Ecosystem dynamics: exploring the interplay within fintech entrepreneurial ecosystems

DeFi: Decentralized Finance - An Introduction and Overview

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