Facilitating innovation in FinTech: a review and research agenda

Ahmad Alaassar (), Anne-Laure Mention and Tor Helge Aas
Additional contact information
Ahmad Alaassar: RMIT Europe
Anne-Laure Mention: RMIT University
Tor Helge Aas: University of Agder

Review of Managerial Science, 2023, vol. 17, issue 1, No 3, 33-66

Abstract: Abstract The purpose of this paper is to carry out content analyses on the existing literature to investigate the knowledge state of innovation facilitators adopted to promote financial innovation. In total, 56 papers were analysed using the NVivo software package. Three categories of innovation facilitators emerged from the literature capturing the perspective of regulators, incumbents and new entrants. Each identified instrument is defined and its processes and implications described. Many initiatives were led by regulators, revealing a regulatory strategy change from risk-based to opportunity-based regulation, with regulatory sandboxes being the most commonly adopted instrument. Incumbent-led innovation facilitators were also identified and typically took the form of corporate incubation models, co-working spaces, venture funds and innovation platforms to support financial institutions with partnerships, acquisitions or self-development. Lastly, the literature review revealed innovator-led instruments to support start-ups with raising capital. Based on our results, we discuss several important observations and propose avenues for future research capturing each of the identified perspectives. This paper contributes to incubation research and the financial innovation and FinTech literature streams.

Keywords: Financial innovation; FinTech; Innovation facilitators; Incubation models; Literature review; Research agenda (search for similar items in EconPapers)
JEL-codes: G2 L26 M13 O16 O3 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://link.springer.com/10.1007/s11846-022-00531-x Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:rvmgts:v:17:y:2023:i:1:d:10.1007_s11846-022-00531-x

Ordering information: This journal article can be ordered from
http://www.springer.com/business/journal/11846

DOI: 10.1007/s11846-022-00531-x

Access Statistics for this article

Review of Managerial Science is currently edited by R. Ewert and W. Kürsten

More articles in Review of Managerial Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().