FinTech and Banking: An Evolving Relationship

Carbó-Valverde, Santiago; Cuadros-Solas, Pedro J.; Rodríguez-Fernández, Francisco

doi:10.1007/978-3-030-81835-7_6

Cited by 13 publications

(6 citation statements)

References 16 publications

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“…They appear to be hybrid structures aimed at leveraging firms' resources and enhancing their competitiveness while maintaining their independence (Akpotu, 2016;Holotiuk, Klus, Lohwasser & Moormann, 2018). The involved banks and fintech start-ups can achieve the best results from cooperation in an environment of newly created digital ecosystems (Carbó-Valverde, Cuadros-Solas & Rodríguez-Fernández, 2021). The ecosystem is Financial Ecologies Framed by Fintech Marta Gancarczyk, Małgorzata Kutera, Óscar Rodil-Marzábal (Eds.)…”

Section: The Role Of Strategic Alliance In Bankingmentioning

confidence: 99%

“…Sometimes the term "alliance" is being used in a very lax way, and it defines many types of interactions between banks and fintech companies, like minority or majority investments, product-related Financial Ecologies Framed by Fintech Marta Gancarczyk, Małgorzata Kutera, Óscar Rodil-Marzábal (Eds.) / An analytical framework for strategic alliance formation between a cooperative bank and a fintech start-up: An Italian case study collaborations, or other forms of cooperation between these two types of entities (Carbó-Valverde et al, 2021;Hornuf et al, 2021). According to Russo & Cesarani (2017), strategic alliance formation should embrace three crucial phases: defining the reasons for the alliance creation, selecting the partners, and choosing the most appropriate form of governance.…”

Section: Alliance Formationmentioning

confidence: 99%

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An analytical framework for strategic alliance formation between a cooperative bank and a fintech start-up: An Italian case study

Bartolacci¹,

Cardoni²,

Łasak³

et al. 2022

JEMI

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PURPOSE: The paper aims to identify the characteristics of the entities involved, the motivations and the processes of forming strategic alliances between a small cooperative bank and a fintech start-up. The paper bridges the research gap in the literature and explains the success factors of strategic alliance between considered entities. METHODOLOGY: We applied a typical qualitative research approach that consists of two steps. The first step was to develop an analytical framework to understand the critical success factors for the strategic alliance formation between banks and fintech start-ups. In the second step, we applied the analytical framework for a case study analysis, considering the strategic alliance between the Banca Popolare di Cortona and the NetFintech start-up. FINDINGS: Our research shows that there are different motives for strategic alliance formation for banks and fintech start-ups. From a theoretical point of view, banks’ motivations are based on outsourcing, innovation, the evolution of the business model, competitive advantage, saving costs, improving service quality, and learning. The main motives for fintechs include access to customers, loans, banking license, economies of scale, trust, and credibility. In the empirical part, we found that the crucial success factors are strategic alignment and hybridization, competence and experience, cultural value and territorial closeness, and professionalism. IMPLICATIONS: The results develop the knowledge about the best conditions for cooperative banks and fintech start-ups strategic alliances. The main limitation is that the paper is based only on one case study and it is related to cooperative banks and does not embrace other groups of banks. For this reason, it can be a basis for further research in this area. The described case study can be a good example to compare other cases of such alliances. Cooperative banks and fintech start-ups involved in a strategic alliance should share the commitment at the governance level. Critical are also the procedures of the alliance formation. ORIGINALITY AND VALUE: This article provides two main contributions to the literature on the technology-driven transformations of the banking sector. First, we elaborated a theoretical framework of the critical success factors for the bank and fintech start-up strategic alliance formation. Second, we applied the framework with the bank–fintech start-up cooperation in the local market in Italy. Contrary to previous research, which focuses mainly on commercial banks, this article presents the relationship between cooperative banks and fintech start-ups.

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Section: The Role Of Strategic Alliance In Bankingmentioning

confidence: 99%

Section: Alliance Formationmentioning

confidence: 99%

An analytical framework for strategic alliance formation between a cooperative bank and a fintech start-up: An Italian case study

Bartolacci¹,

Cardoni²,

Łasak³

et al. 2022

JEMI

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“…Another aspect is to catch up with the new opportunities, which is essential for both banks and fintechs. The latter realised that the partnership with banks is necessary for them to grow and have access to a large base of banks' customers (Bömer & Maxin, 2018;Drasch et al, 2018;Carbó-Valverde et al, 2021). Furthermore, fintechs want to access economies of scale, build user networks, and balance risks (Hommel & Bican, 2020).…”

Section: Motivations For the Bank-fintech Start-up Alliancementioning

confidence: 99%

“…Usually, a strategic alliance is based on an agreement between the involved parties and are distinguished different types of arrangements that may be based on: an ownership agreement, a contractual agreement or a licensing agreement (Lin & Darnall, 2015). Sometimes the term "alliance" is being used in a very lax way, and it defines many types of interactions between banks and fintech companies, like minority or majority investments, product-related collaborations, or other forms of cooperation between these two types of entities (Carbó-Valverde et al, 2021;.…”

Section: Alliance Formationmentioning

confidence: 99%

Untitled

2022

JEMI

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The JOURNAL OF ENTREPRENEURSHIP, MANAGEMENT AND INNOVATION is an interdisciplinary, double blind-reviewed journal, emphasizing theoretical and empirical articles in entrepreneurship, management, innovation and related fields. The journal is published both in printed form and on-line at www.jemi.edu.pl. THE ENTREPRENEURSHIP AREA OF THE JOURNALThe entrepreneurship area of the journal covers the three major topics: 1) venture creation and small business, 2) the impact of entrepreneurship on economic growth including local and regional development, and 3) entrepreneurial attitudes and motives. We invite original papers of theoretical and empirical nature, rooted in the disciplines of economics, management, sociology, political science, and psychology. The interdisciplinary research is encouraged to assure a comprehensive approach to the topics discussed and to advance both theory and practice. THE MANAGEMENT AREA OF THE JOURNALManagement, as a thematic scope of the journal, focuses on theoretical and empirical considerations of various areas, such as: strategic management, operation or production management, human resource management, information and management, contemporary management problems, new methods and management tools, new forms of organization and management, new threats in management, or new challenges in the organization's environment. THE INNOVATION AREA OF THE JOURNALThe innovation area of the Journal's focus will emphasize a broad range of topics and approaches, including (but not limited to): 1) role of private and public sector in development and diffusion of innovations, 2) product, process and business model innovations, 3) profiles of innovative products, structures and processes, aimed at improving management practice and providing inspiration for entrepreneurs, 4) comparative analyses of national, regional policy or sector issues, such as R&D trends, patents, citations etc., 5) theoretical work on economic, organizational and scientific aspects of innovation, encouraging the search for inspirations from various disciplines, including natural sciences, arts and humanities. THE ENTREPRENEURIAL FINANCE AREA OF THE JOURNALThe entrepreneur or entrepreneurial firm, the institutions providing finance to the entrepreneurs, and the different types of financial sources used by the entrepreneurial firms or investors. Among the areas of our special interests might be enumerated: accounting and corporate finance, financial market as a background for SME development, entrepreneurial finance, regulatory and supervisory aspects related to corporate finance.

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“…As of the entry into force of the PSD2 regulation, banks are obliged to have and maintain Application Programming Interfaces (APIs) that allow other applications and services to access bank accounts, if the user wishes, in order to expand the possibilities of online payments (Hartmann et al, 2019). Thus, entities with online services have the possibility of offering their customers immediate payment for their online reservations or purchases on the Internet, granting independence from the bank (Carb o-Valverde et al, 2021). That is why both Verse and Twyp have their own virtual wallets to store money, without having to have a bank account.…”

Section: Introductionmentioning

confidence: 99%

What drives consumers to use P2P payment systems? An analytical approach based on the stimulus–organism–response (S-O-R) model

Diéguez

Liébana‐Cabanillas

Blanco‐Oliver

et al. 2023

EJMBE

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PurposeTraditional payment systems based on cash and bank cards are being replaced by new innovative formats. This research analyzes the success factors in the adoption by customers of Bizum, a peer-to-peer (P2P) mobile payment system widely used in Spain. This study proposes a theoretical framework based on the Stimulus–Organism–Response (S-O-R) model and includes the analysis of the moderating effect of perceived risk and the mediating effect of perceived trust.Design/methodology/approachTo achieve the proposed objectives, an online questionnaire was administered to 701 Spanish smartphone users, potential users of the proposed P2P payment systems.FindingsThe results show that perceived usefulness is the most important predictor of intention to use. Additionally, a medium predictive relevance performance of the proposed model is found.Originality/valueThis research contributes to a more holistic understanding of the adoption of P2P payment systems and provides new business opportunities that companies can exploit through the use of this technology.

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FinTech and Banking: An Evolving Relationship

Cited by 13 publications

References 16 publications

An analytical framework for strategic alliance formation between a cooperative bank and a fintech start-up: An Italian case study

An analytical framework for strategic alliance formation between a cooperative bank and a fintech start-up: An Italian case study

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What drives consumers to use P2P payment systems? An analytical approach based on the stimulus–organism–response (S-O-R) model

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