FinTech Strategy

This book explores how new and small ventures with comparatively fewer financial resources have been able to compete with big banks and financial institutions. It discusses entry, competition, and growth strategies based on new business models enacted by current FinTech ventures. An analysis of strategies for Fintech and of cases from banked as well as non-banked and underbanked customer segments produces a framework based on effectuation, resulting in a final discussion of the broad societal outcomes of FinTech related to financial inclusion, the digital divide, and the UN's Sustainable Development Goals. This book offers scholars a comprehensive strategic view on FinTech from effectual, causal, and entrepreneurial innovation standpoints. Pável Reyes-Mercado is professor at Universidad Anáhuac, Mexico, where his research focuses upon the adoption of innovations, technology-enabled marketing, and entrepreneurial marketing. He is the author of Eco-Innovations in Emerging Markets and co-editor of Reverse Entrepreneurship in Latin America.

Autorentext
Pável Reyes-Mercado is professor at Universidad Anáhuac, Mexico, where his research focuses upon the adoption of innovations, technology-enabled marketing, and entrepreneurial marketing. He is the author of Eco-Innovations in Emerging Markets and co-editor of Reverse Entrepreneurship in Latin America.

Inhalt
Part I. The financial-entrepreneurial innovation-technology convergenceChapter 1. How Fintech was born?-The internet and data revolution-The financial crisis and distrust in banks-Unattended market niches
Chapter 2. Technological possibilities-Technology as a resource-Block chain technologies and distributed financial systems-Data processing: Big data and artificial intelligence-Enabling technologies: Sandboxes, cybersecurity, and application programming interfaces
Chapter 3. Entrepreneurship in the Fintech industry-Opportunity and gap identification in the financial industryoThe product conceptoThe business modeloIdentification of market niche segments-Opportunity exploitationoTransformation of a product into a product strategyoInnovative value propositionoPositioning the value propositionoValue capturing-Venture outcomesoConsumer valueoVenture valuation and exit valueoScaling the venture
Part II. Exploring opportunities in FintechChapter 4. Dynamics of Fintech and the broad financial industry-Traditional dynamics: The incumbents-Altered dynamics: Fintech-Fintech entry strategies-Competitive reactions-Conducting a competitive analysis-The interplay between innovation and regulation
Chapter 5. Financial consumer behavior and decision making-Consumer behaviour and moneyoCognitive biasesoHeuristicsoProspect theory-Behaviour consumers and Fintech productsoBehaviors arising in payments, crowdsourcing, crowd lending, and cryptocurrenciesoConducting experiments to assess consumer behaviour in Fintech
Chapter 6. Consumer segments in the Fintech marketoNiche and mass consumers in FintechoBanked and unbankedoDigital and financial literacy segmentsoFactors leading to adoption of Fintech product oClustering techniques in Fintech
Chapter 7. Differentiation and sustainable competitive advantage-Banking products and differentiation-Attributes of Fintech products-Differentiation factors-Achieving a sustainable competitive advantage in Fintech: relationship vs transactionality-Actionable framework to assess competitive advantages
Part III. Exploiting opportunities in FintechChapter 8. Effectuation as a strategic approach-Causal approach to strategy formation-The suitability of effectuation as strategy in Fintech-The effectuation approachoAdaptationoProblems as business opportunitiesoAffordable lossesoFlexibilityoResilience-The liability of newness: Resource shortage, lack of brand awareness and trust-An actionable effectuation framework in Fintech
Chapter 9. Developing a product-market fit-Socio-technical approaches to Fintech-Business viability and technology feasibility in Fintech-Pricing, branding, and communication of the value proposal -Implementing the product-market fit
Chapter 10. Measuring venture performance-Linking venture and financial metrics-Purchase funnel metrics-Investment attractors: Customer life time value and customer acquisition cost-Exit value of a Fintech venture-Analytics exemplary cases
Part IV. Broad outcomes of FintechChapter ...