Societal Impact of IS

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Short

Paper Number

1530

Description

Financial technology (fintech) firms are transforming the financial sector with new innovative services. Indeed, fintech firms have established themselves as viable addition to the traditional financial structure and are potentially playing an important role in addressing financial inclusion. However, hitherto there is limited understanding of how fintech firms address financial inclusion. In this paper, we present a preliminary phase of research and analysis on a case study of fintech start-ups in Ghana. We address the research question: “how do fintech firms address financial inclusion?” Informed through activity theory, our preliminary findings show that fintech firms act as innovators and aggregators, leverage existing infrastructure of incumbents and deploy cooperative strategies comprising elements of competition and cooperation to address financial inclusion. Based on the findings, this study develops a fintech driven financial inclusion model that explains how fintech firms work towards addressing financial inclusion.

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Dec 14th, 12:00 AM

How do Fintech Firms Address Financial Inclusion?

Financial technology (fintech) firms are transforming the financial sector with new innovative services. Indeed, fintech firms have established themselves as viable addition to the traditional financial structure and are potentially playing an important role in addressing financial inclusion. However, hitherto there is limited understanding of how fintech firms address financial inclusion. In this paper, we present a preliminary phase of research and analysis on a case study of fintech start-ups in Ghana. We address the research question: “how do fintech firms address financial inclusion?” Informed through activity theory, our preliminary findings show that fintech firms act as innovators and aggregators, leverage existing infrastructure of incumbents and deploy cooperative strategies comprising elements of competition and cooperation to address financial inclusion. Based on the findings, this study develops a fintech driven financial inclusion model that explains how fintech firms work towards addressing financial inclusion.

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