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

Henner Gimpel (), Daniel Rau () and Maximilian Röglinger ()
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Henner Gimpel: University of Augsburg
Daniel Rau: University of Augsburg
Maximilian Röglinger: University of Augsburg

Electronic Markets, 2018, vol. 28, issue 3, No 2, 245-264

Abstract: 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.

Keywords: Financial services; Financial technology; FinTech; Business model; Services; Taxonomy (search for similar items in EconPapers)
JEL-codes: M13 N2 N7 O3 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (35)

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DOI: 10.1007/s12525-017-0275-0

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