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Understanding FinTech start-ups – a taxonomy of consumer-oriented service offerings

Author

Listed:
  • Henner Gimpel

    (University of Augsburg)

  • Daniel Rau

    (University of Augsburg)

  • Maximilian Röglinger

    (University of Augsburg)

Abstract

The financial sector is facing radical transformation. Leveraging digital technologies to offer innovative services, FinTech start-ups are emerging in domains such as asset management, lending, or insurance. Despite increasing investments, the FinTech phenomenon is low on theoretical insights. So far, the offerings of FinTech start-ups have been predominantly investigated from a functional perspective. As a functional perspective does not suffice to fully understand the offerings of FinTech start-ups, we propose a taxonomy of non-functional characteristics. Thereby, we restrict our analysis to consumer-oriented FinTech start-ups. Our taxonomy includes 15 dimensions structured along the perspectives interaction, data, and monetization. We demonstrate the applicability of our taxonomy by classifying the offerings of 227 FinTech start-ups and by identifying archetypes via a cluster analysis. Our taxonomy contributes to the descriptive knowledge on FinTech start-ups, enabling researchers and practitioners to analyze the service offerings of FinTech start-up in a structured manner.

Suggested Citation

  • Henner Gimpel & Daniel Rau & Maximilian Röglinger, 2018. "Understanding FinTech start-ups – a taxonomy of consumer-oriented service offerings," Electronic Markets, Springer;IIM University of St. Gallen, vol. 28(3), pages 245-264, August.
    • Handle: RePEc:spr:elmark:v:28:y:2018:i:3:d:10.1007_s12525-017-0275-0
    DOI: 10.1007/s12525-017-0275-0
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial services; Financial technology; FinTech; Business model; Services; Taxonomy;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • N2 - Economic History - - Financial Markets and Institutions
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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