Innovation relationships in the emergence of fintech ecosystems
Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Scientific › peer-review
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Innovation relationships in the emergence of fintech ecosystems. / Still, Kaisa; Lähteenmäki, Ilkka; Seppänen, Marko.
Proceedings of the 52nd Hawaii International Conference on System Sciences 2019 (HICSS): Jan. 8-11, 2019, Grand Walea, Maui, Hawaii, USA. 2019. p. 6367-6376 (Hawaii International Conference on System Sciences).Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Scientific › peer-review
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TY - GEN
T1 - Innovation relationships in the emergence of fintech ecosystems
AU - Still, Kaisa
AU - Lähteenmäki, Ilkka
AU - Seppänen, Marko
PY - 2019
Y1 - 2019
N2 - This paper explores the emergence of ecosystems in the context of Fintechs infusing digital technology into financial services. The rapid rise of Fintechs has changed the business landscape, challenging the established firms with novel solutions and services. As a result, the established firms are turning to new models of cooperation, replacing the hierarchically managed value chains with ecosystems that are modular and decentralized in their architecture. First, a bibliometric analysis was conducted to present the content and relationships in Fintech research in general. Then, a case study on two of the biggest retail banks in Finland and their innovation relationships in developing Distributed Ledger Technologies and related services was conducted. The results show how established players have established multiple innovation relationships, in different ecosystems as well as between them. These can be seen to demonstrate the emergence of Fintech ecosystems. The study contributes to previous literature by making the linkages explicit, particularly by examining the contextual elements that are crucial enablers or hindering factors in such relationships.
AB - This paper explores the emergence of ecosystems in the context of Fintechs infusing digital technology into financial services. The rapid rise of Fintechs has changed the business landscape, challenging the established firms with novel solutions and services. As a result, the established firms are turning to new models of cooperation, replacing the hierarchically managed value chains with ecosystems that are modular and decentralized in their architecture. First, a bibliometric analysis was conducted to present the content and relationships in Fintech research in general. Then, a case study on two of the biggest retail banks in Finland and their innovation relationships in developing Distributed Ledger Technologies and related services was conducted. The results show how established players have established multiple innovation relationships, in different ecosystems as well as between them. These can be seen to demonstrate the emergence of Fintech ecosystems. The study contributes to previous literature by making the linkages explicit, particularly by examining the contextual elements that are crucial enablers or hindering factors in such relationships.
UR - http://www.mendeley.com/research/innovation-relationships-emergence-fintech-ecosystems
U2 - 10.24251/HICSS.2019.765
DO - 10.24251/HICSS.2019.765
M3 - Conference contribution
SN - 978-0-9981331-2-6
T3 - Hawaii International Conference on System Sciences
SP - 6367
EP - 6376
BT - Proceedings of the 52nd Hawaii International Conference on System Sciences 2019 (HICSS)
ER -