Business models of FinTechs – Difference in similarity?

Laidroo, Laivi; Koroleva, Ekaterina; Kliber, Agata; Rupeika-Apoga, Ramona; Grigaliuniene, Zana

doi:10.1016/j.elerap.2021.101034

Cited by 47 publications

(32 citation statements)

References 35 publications

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“…They "[claim] that the rules are backward, neither follow the rapidly changing reality nor take the existence of the FinTechs into account" (Kliber et al 2021). The same applies to Estonia, where the most critical problems are related to finding customers and to regulation (Laidroo et al 2021b). Another result of the survey analysis is that the availability of a skilled staff or experienced managers is perceived as quite a pressing problem, which is, again, in line with the PEST analysis results.…”

Section: Discussionsupporting

confidence: 61%

FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead

Rupeika-Apoga

Wendt

2021

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FinTech has been in the focus of discussion for quite some time. However, the market share of FinTech companies is still relatively small compared to that of more traditional financial services. The purpose of this paper is to analyse the status quo, current developments, and challenges ahead for the Latvian FinTech sector. We combine three analyses: a political and legal, economic, social, and technological environment (PEST) analysis; a survey among FinTech companies; and an analysis of the size and financial performance of FinTech companies during the last 10 years. We find that the current status of regulation is one of the main obstacles to FinTech development, because it does not sufficiently consider FinTech-specific aspects. Problems in attracting a skilled workforce and an environment that is not very supportive of new developments in finance are further challenges and might explain at least part of the growth and financial performance difficulties. A revision, modernization, and harmonization of regulation is essential to create a level playing field for all market participants: FinTech companies, traditional financial service providers, and those originally traditional players that are integrating FinTech solutions in their business model. Further efforts are also required to foster Latvia’s attractiveness for a skilled workforce. We hope that this study helps increase the visibility of Latvian FinTech and contributes to the development of the new Latvian FinTech strategy.

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Section: Discussionsupporting

confidence: 61%

FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead

Rupeika-Apoga

Wendt

2021

Risks

Self Cite

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“…As Lee and Shin (2018) described, there are six business models of FinTech, including lending, capital market, insurance services, wealth management, payment, and crowdfunding. In detail, Laidroo et al (2021) identified seven activities of FinTech, including, ( 1 Given the consideration of previous explanation, the selected keywords in this study were identified by conducting a pre-simulation to assure that the keywords cover most of the existing studies related to Islamic FinTech. Moreover, the selection of keywords also referred to previous scientometric research by various researchers who tried to cluster the knowledge in this area, for example, Liu et al (2020), suggested including the words P2P, crowdfunding, blockchain, cryptocurrency, robo-advisors, and mobile payment, as they are related to FinTech business model.…”

Section: Data Source and Collectionmentioning

confidence: 99%

Fintech in islamic finance literature: A review

Alshater

Saba²,

Supriani³

et al. 2022

Heliyon

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“…Therefore, the recruiter must concentrate on the content of the job vacancy to decide the main characteristics that should be prioritized. FinTech business models could be influenced by local conditions (Laidroo et al 2021). Additionally, behavioral competence will be the most important employee competency in the banking and FinTech industries (Santoso et al 2021).…”

Section: Key Factors Selected Of the Fintech Talent Demandmentioning

confidence: 99%

Mapping the Sustainable Human-Resource Challenges in Southeast Asia’s FinTech Sector

Kao

2022

JRFM

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The significance of human resources (HRs) has increased with the increasing awareness of sustainability issues and corporate social responsibility. However, the rapidly emerging financial technology (FinTech) sector still presents an HR challenge. Southeast Asia, which accounts for the highest adoption rate of mobile banking, has set new records regarding the number of transactions, as well as funding amount, in recent years. Moreover, borderless financial cooperation, coupled with in-demand tech talents, will rapidly boost the development of the region. Thus, this study explored the new opportunities as well as challenges of a new business model, FinTech, in Southeast Asia’s banking and enterprise sector in the post-COVID-19 era. It also examined how organizations can achieve sustainable development via the interaction of the new operating model with existing ones by developing relevant strategies in the context of the “new normal” working condition. By reviewing the literature on HR management (HRM), we proposed how banking and FinTech companies could supply tech talent with the relevant experience or engage in training projects before recruiting. Additionally, since organizations desire sustainability-minded employees, they offer flexible working arrangements and well-established reward policies that can create remote work performance and retention rates. Being committed to upskilling and reskilling global talent by offering talent mobility opportunities across the organization, as well as by fully embracing the creation of value for cross-cultural talent, companies can support their employees’ long-term career goals and maintain competitive strength. Finally, organizations must focus more on flexible adjustments and cross-domain communication for global talent. Forming strategic alliances with FinTech companies would be an alternative conduit that can ensure that regional laws comply with the local culture and national law, for bias and conflict reduction.

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Business models of FinTechs – Difference in similarity?

Cited by 47 publications

References 35 publications

FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead

FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead

Fintech in islamic finance literature: A review

Mapping the Sustainable Human-Resource Challenges in Southeast Asia’s FinTech Sector

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