Nurturing a FinTech ecosystem: The case of a youth microloan startup in China |
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| Institution: | 1. University of New South Wales, UNSW Business School, School of Information System and Technology Management, Kensington, NSW, 2052, Sydney, Australia;2. The University of Sydney, The University of Sydney Business School, Rm4074 Abercrombie Building (H70), NSW, 2006, Sydney, Australia;3. Copenhagen Business School, Department of IT Management, Howitzvej 60, Frederiksberg 2000, Denmark;4. School of Business Administration, Zhejiang Gongshang University, No.18, Xuezheng St., Xiasha University Town, Hangzhou, Zhejiang, People’s Republic of China;5. The Research Center of Information Technology & Economic and Social Development of Zhejiang Province, People’s Republic of China |
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| Abstract: | Financial technology, or FinTech, involves the design and delivery of financial products and services through technology. It impacts financial institutions, regulators, customers, and merchants across a wide range of industries. Pervasive digital technologies are challenging the fundamentals of the highly regulated financial sector, leading to the emergence of non-traditional payment systems, peer-to-peer money exchanges and increased turbulence in currency markets. This case study explores the development of a FinTech company in China that offers microloans to college students. Five lessons learned are presented for organizations to better manage the challenges and to leverage the opportunities amidst the disruption of financial sector. Our findings also shed light on how digital technology 1) offers the strategic capability for a firm to occupy a market niche in financial sector, 2) enables the generation of alternative credit scores based on non-traditional data, and 3) improves the financial inclusion of previously excluded market segments. |
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| Keywords: | FinTech Case study Online microloan Financial inclusion Ecosystem development |
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