Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec

Bernadett Deák, Denis J. Garand, Romeo V. Turcan

Publikation: Konferencebidrag uden forlag/tidsskriftPaper uden forlag/tidsskriftForskningpeer review

Resumé

As technological innovations are evolving and globalizing, traditional financial organizations are facing continuously changing patterns, though incentives for financial technology – Fintech – engagement has been rather uncommon in previous decades. This phenomenon conjectures radical transformations within the global financial industry, where Fintech is expected to gain a central position within a decade. Within this scope, we investigate the impact of Fintech on financial ecosystems in the context of the financial ecosystem in Quebec (Canada), employing a multiple-case study research. Primary data was collected at the level of top management and founders via in-depth interviews. Data analysis was informed by grounded theory methods and techniques. Constant iteration between open and theoretical coding led to the discovery of a core variable, comfort zoning. The method of constructing typologies by reduction was employed, generating four types of comfort zoning: nimbling; imperilling; cocooning; and discomforting. Findings on how the diffusion of Fintech innovations affects the financial ecosystem are embedded within the players’ interactions, as openness of Fintechs and financial institutions towards each other holds a central position, creating a mutually supportive, bulletproof ecosystem. Implications for practice and policy as well as suggestions for future international business research are discussed.
OriginalsprogEngelsk
Publikationsdatodec. 2019
StatusUdgivet - dec. 2019
BegivenhedEuropean International Business Academy - University of Leeds, Leeds, Storbritannien
Varighed: 12 dec. 201916 dec. 2019
https://eiba2019.eiba.org/

Konference

KonferenceEuropean International Business Academy
LokationUniversity of Leeds
LandStorbritannien
ByLeeds
Periode12/12/201916/12/2019
Internetadresse

Fingerprint

Innovation
Ecosystem
Quebec
Zoning
Multiple case study
International business research
Case study research
Openness
Financial industry
Canada
Financial institutions
Incentives
Interaction
Diffusion of innovation
In-depth interviews
Grounded theory
Technological innovation
Top management

Citer dette

Deák, B., Garand, D. J., & Turcan, R. V. (2019). Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec. Afhandling præsenteret på European International Business Academy , Leeds, Storbritannien.
Deák, Bernadett ; Garand, Denis J. ; Turcan, Romeo V. / Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec. Afhandling præsenteret på European International Business Academy , Leeds, Storbritannien.
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abstract = "As technological innovations are evolving and globalizing, traditional financial organizations are facing continuously changing patterns, though incentives for financial technology – Fintech – engagement has been rather uncommon in previous decades. This phenomenon conjectures radical transformations within the global financial industry, where Fintech is expected to gain a central position within a decade. Within this scope, we investigate the impact of Fintech on financial ecosystems in the context of the financial ecosystem in Quebec (Canada), employing a multiple-case study research. Primary data was collected at the level of top management and founders via in-depth interviews. Data analysis was informed by grounded theory methods and techniques. Constant iteration between open and theoretical coding led to the discovery of a core variable, comfort zoning. The method of constructing typologies by reduction was employed, generating four types of comfort zoning: nimbling; imperilling; cocooning; and discomforting. Findings on how the diffusion of Fintech innovations affects the financial ecosystem are embedded within the players’ interactions, as openness of Fintechs and financial institutions towards each other holds a central position, creating a mutually supportive, bulletproof ecosystem. Implications for practice and policy as well as suggestions for future international business research are discussed.",
keywords = "Entrepreenurship, Innovation, Fintech, Comfort zone, Ecosystem, Grounded theory, Theory building, Quebec, Canada",
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Deák, B, Garand, DJ & Turcan, RV 2019, 'Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec' Paper fremlagt ved, Leeds, Storbritannien, 12/12/2019 - 16/12/2019, .

Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec. / Deák, Bernadett; Garand, Denis J. ; Turcan, Romeo V.

2019. Afhandling præsenteret på European International Business Academy , Leeds, Storbritannien.

Publikation: Konferencebidrag uden forlag/tidsskriftPaper uden forlag/tidsskriftForskningpeer review

TY - CONF

T1 - Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec

AU - Deák, Bernadett

AU - Garand, Denis J.

AU - Turcan, Romeo V.

PY - 2019/12

Y1 - 2019/12

N2 - As technological innovations are evolving and globalizing, traditional financial organizations are facing continuously changing patterns, though incentives for financial technology – Fintech – engagement has been rather uncommon in previous decades. This phenomenon conjectures radical transformations within the global financial industry, where Fintech is expected to gain a central position within a decade. Within this scope, we investigate the impact of Fintech on financial ecosystems in the context of the financial ecosystem in Quebec (Canada), employing a multiple-case study research. Primary data was collected at the level of top management and founders via in-depth interviews. Data analysis was informed by grounded theory methods and techniques. Constant iteration between open and theoretical coding led to the discovery of a core variable, comfort zoning. The method of constructing typologies by reduction was employed, generating four types of comfort zoning: nimbling; imperilling; cocooning; and discomforting. Findings on how the diffusion of Fintech innovations affects the financial ecosystem are embedded within the players’ interactions, as openness of Fintechs and financial institutions towards each other holds a central position, creating a mutually supportive, bulletproof ecosystem. Implications for practice and policy as well as suggestions for future international business research are discussed.

AB - As technological innovations are evolving and globalizing, traditional financial organizations are facing continuously changing patterns, though incentives for financial technology – Fintech – engagement has been rather uncommon in previous decades. This phenomenon conjectures radical transformations within the global financial industry, where Fintech is expected to gain a central position within a decade. Within this scope, we investigate the impact of Fintech on financial ecosystems in the context of the financial ecosystem in Quebec (Canada), employing a multiple-case study research. Primary data was collected at the level of top management and founders via in-depth interviews. Data analysis was informed by grounded theory methods and techniques. Constant iteration between open and theoretical coding led to the discovery of a core variable, comfort zoning. The method of constructing typologies by reduction was employed, generating four types of comfort zoning: nimbling; imperilling; cocooning; and discomforting. Findings on how the diffusion of Fintech innovations affects the financial ecosystem are embedded within the players’ interactions, as openness of Fintechs and financial institutions towards each other holds a central position, creating a mutually supportive, bulletproof ecosystem. Implications for practice and policy as well as suggestions for future international business research are discussed.

KW - Entrepreenurship

KW - Innovation

KW - Fintech

KW - Comfort zone

KW - Ecosystem

KW - Grounded theory

KW - Theory building

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KW - Canada

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ER -

Deák B, Garand DJ, Turcan RV. Fintech – An Existential Carrot that Flutters in Front of Your Noses: A Case of Financial Ecosystem Innovations in Quebec. 2019. Afhandling præsenteret på European International Business Academy , Leeds, Storbritannien.