Abstract
Crowdfunding platforms are usually discussed as alternative financial mechanisms. However, from an information systems (IS) perspective, they can also be understood as digital ecosystems that integrate users, data flows, platform architectures, and regulatory governance. This paper proposes a preliminary conceptual reframing of European crowdfunding platforms in terms of digital financial ecosystems rather than purely financial intermediaries. Drawing on selected IS literature and institutional reports from ESMA, OECD, and the Cambridge Centre for Alternative Finance, the paper develops a dual financial/IS interpretation of crowdfunding platforms. The main contribution is a comparative framework that translates financial characteristics of crowdfunding into IS concepts such as data flows, network nodes, distributed participation, system interactions, and governance layers. The paper also outlines a path for future empirical research aimed at validating and extending this conceptual framework through document analysis and semi-structured interviews with platform operators, regulators, and other ecosystem actors.
Paper Type
Poster
DOI
10.62036/ISD.2026.161
Towards Crowdfunding Platforms as Digital Financial Ecosystems: A Preliminary Information Systems Perspective
Crowdfunding platforms are usually discussed as alternative financial mechanisms. However, from an information systems (IS) perspective, they can also be understood as digital ecosystems that integrate users, data flows, platform architectures, and regulatory governance. This paper proposes a preliminary conceptual reframing of European crowdfunding platforms in terms of digital financial ecosystems rather than purely financial intermediaries. Drawing on selected IS literature and institutional reports from ESMA, OECD, and the Cambridge Centre for Alternative Finance, the paper develops a dual financial/IS interpretation of crowdfunding platforms. The main contribution is a comparative framework that translates financial characteristics of crowdfunding into IS concepts such as data flows, network nodes, distributed participation, system interactions, and governance layers. The paper also outlines a path for future empirical research aimed at validating and extending this conceptual framework through document analysis and semi-structured interviews with platform operators, regulators, and other ecosystem actors.
Recommended Citation
Kędzierska-Szczepaniak, A.(2026). Towards Crowdfunding Platforms as Digital Financial Ecosystems: A Preliminary Information Systems Perspective. In M. Valenta, B. Mannová, R. Pergl, A. Przybylek, M. Lang, H. Linger, C. Schneider, N. Iivari, & E. Insfran (Eds.), Making ISD Sustainable: Reloaded with AI and Automation (ISD2026 Proceedings). Prague, Czech Republic: Czech Technical University in Prague. ISBN: 978-80-01-07585-2. https://doi.org/10.62036/ISD.2026.161