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RESEARCH PRODUCT
Business models of FinTechs – Difference in similarity?
Agata KliberZana GrigaliunieneEkaterina KorolevaLaivi LaidrooRamona Rupeika-apogasubject
MarketingComputer Networks and Communicationsbusiness.industrymedia_common.quotation_subjectValue proposition05 social sciences02 engineering and technologyRevenue streamBusiness modelBusiness Model CanvasPaymentComputer Science Applications020204 information systemsManagement of Technology and InnovationService (economics)0502 economics and businessSimilarity (psychology)0202 electrical engineering electronic engineering information engineering050211 marketingBusinessIndustrial organizationFinancial servicesmedia_commondescription
Abstract The FinTech industry is gradually maturing and offers a wide range of financial services on the global stage. Still, the understanding of FinTech business models remains at its infancy with a shortage of cross-country comparisons. This paper aims to determine the differences in business model attributes of FinTechs in five rapidly emerging FinTech hotspots in Central and Eastern Europe (CEE). Survey results from Estonia, Latvia, Lithuania, Poland, and Russia, accompanied by cluster analysis, enable us to provide unique in-depth evidence on FinTech business models. Across the selected countries, we observe significant differences in the attributes of FinTech business models: key activities, key resources, value propositions, customer segments, delivery channels, cost structure, and revenue stream. We identify four clusters of FinTechs: “lending community”, “mixed services”, “payment service”, and “payment community”. Although these clusters share similarities with FinTech archetypes proposed in previous research, they remain rather unevenly distributed across countries.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2021-03-01 | Electronic Commerce Research and Applications |