The Role of Information Technology in Fintech Innovation: Insights from the New York City Ecosystem

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Fintech is an active area of innovation and a rapidly growing sector of the economy, yet relatively little is known about how information technology contributes to innovation in fintech. We draw on the business model canvas framework and we examine the role of information technology in the business models of leading fintech startups in the New York City fintech ecosystem. We find that information technology plays a key role across nearly all components of the business models, orchestrating resources and processes to efficiently deliver personalized financial services to customers. Focusing on the IT-enabled value propositions across the fintech startups in our sample, we find that the startups tend to emphasize low-cost offerings that may pose a threat to incumbent business models in financial services.

Original languageEnglish
Title of host publicationResponsible Design, Implementation and Use of Information and Communication Technology - 19th IFIP WG 6.11 Conference on e-Business, e-Services, and e-Society, I3E 2020, Proceedings
EditorsMarié Hattingh, Machdel Matthee, Hanlie Smuts, Ilias Pappas, Yogesh K. Dwivedi, Matti Mäntymäki
PublisherSpringer
Pages313-324
Number of pages12
ISBN (Print)9783030449988
DOIs
StatePublished - 2020
Event19th IFIP WG 6.11 Conference on e-Business, e-Services, and e-Society, I3E 2020 - Skukuza, South Africa
Duration: 6 Apr 20208 Apr 2020

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume12066 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

Conference19th IFIP WG 6.11 Conference on e-Business, e-Services, and e-Society, I3E 2020
CountrySouth Africa
CitySkukuza
Period6/04/208/04/20

Keywords

  • Business model
  • Fintech
  • Information technology
  • Innovation

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  • Cite this

    Mamonov, S. (2020). The Role of Information Technology in Fintech Innovation: Insights from the New York City Ecosystem. In M. Hattingh, M. Matthee, H. Smuts, I. Pappas, Y. K. Dwivedi, & M. Mäntymäki (Eds.), Responsible Design, Implementation and Use of Information and Communication Technology - 19th IFIP WG 6.11 Conference on e-Business, e-Services, and e-Society, I3E 2020, Proceedings (pp. 313-324). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 12066 LNCS). Springer. https://doi.org/10.1007/978-3-030-44999-5_26