The purpose of this paper is to delineate a research agenda to guide future service research investigating the digital transformation of financial service systems through Fintech – disruptive innovations by new market entrants that challenge the position of mainstream financial institutions.
Rooted in the philosophical foundations of “use-inspired research,” this paper addresses the managerially and societally relevant phenomenon of Fintech by identifying, and responding to, the individual challenges and problems associated with the digital transformation of financial services. This is accomplished through a computational text-mining approach to analyze the corpus of 1,545 published practitioner articles associated with Fintech, identification of managerial challenges therein and subsequent delineation of a novel research agenda.
By connecting managerial challenges relating to Fintech with the service literature, this paper develops a use-inspired research agenda that provides scholarly and managerially relevant research directions (RDs). These pertain to the complexity of digital financial service systems (micro level), orchestration of value co-creation with Fintech (meso level), and the development of elastic infrastructures, models and markets (macro level).
Fintech is an emerging phenomenon associated with the digital transformation of financial services. However, actual guidelines on how service research related to Fintech could be advanced from a theoretically as well as managerially relevant angle are unavailable to date. Here, the authors address this challenge and provide the field with 18 tangible RDs to advance service theory and practice.
The purpose of this paper is to guide future academic research addressing managerial challenges associated with Fintech and the digital transformation of financial service. Due to the explicit use-inspired nature of the work, the future research stemming from the agenda that the authors put forward here will be of benefit to decision makers and society more broadly.
This empirical research contributes to the discourse regarding the role of information and communication technologies in service in general, and the digital transformation on financial services in particular. The in-depth computational text-mining analysis is unbiased, replicable and provides the foundation for a use-inspired research agenda that is subsequently delineated.
Authors are listed alphabetically and have contributed equally to this paper. Chiehyeon Lim was supported by the “Human Resources Program in Energy Technology” of the Korea Institute of Energy Technology Evaluation and Planning (KETEP), granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea. (No. 20184010201680).
Breidbach, C.F., Keating, B.W. and Lim, C. (2019), "Fintech: research directions to explore the digital transformation of financial service systems", Journal of Service Theory and Practice, Vol. 30 No. 1, pp. 79-102. https://doi.org/10.1108/JSTP-08-2018-0185Download as .RIS
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