Understanding FinTech Start-Ups : A Taxonomy of Consumer-Oriented Service Offerings

Title data

Gimpel, Henner ; Rau, Daniel ; Röglinger, Maximilian:
Understanding FinTech Start-Ups : A Taxonomy of Consumer-Oriented Service Offerings.
In: Electronic Markets. Vol. 28 (2018) . - pp. 245-264.
ISSN 1422-8890
DOI: https://doi.org/10.1007/s12525-017-0275-0

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Abstract in another language

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.