Brandl Barbara, Hornuf Lars
Faculty of Social Science, Institute of Sociology, Goethe University Frankfurt, Frankfurt, Germany.
Faculty of Business Studies and Economics, University of Bremen, Bremen, Germany.
Front Artif Intell. 2020 Mar 10;3:8. doi: 10.3389/frai.2020.00008. eCollection 2020.
The digitalization of financial services opened a window for new players in the financial industry. These start-ups take on tasks and functions previously reserved for banks, such as financing, asset management, and payments. In this article, we trace the transformation of the industry after digitalization. By using data on FinTech formations in Germany, we provide first evidence that entrepreneurial dynamics in the FinTech sector are not so much driven by technology as by the educational and business background of the founders. Furthermore, we investigate the reactions of traditional banks to the emergence of these start-ups. In contrast with other emerging industries such as biotechnology, a network analysis shows that FinTechs have mostly engaged in strategic partnerships and only a few banks have acquired or obtained a financial interest in a FinTech. We explain the restraint of traditional banks to fully endorse the new possibilities of digitalized financial services with the characteristics of the technology itself and with the postponed fundamental decisions of banks to modernize their IT infrastructure.
金融服务数字化为金融行业的新参与者打开了一扇窗。这些初创企业承担起了此前由银行专属的任务和职能，比如融资、资产管理和支付。在本文中，我们追溯了数字化之后该行业的变革。通过使用德国金融科技公司成立的数据，我们首次证明，金融科技领域的创业活力并非主要由技术驱动，而是由创始人的教育和商业背景驱动。此外，我们研究了传统银行对这些初创企业出现的反应。与生物技术等其他新兴行业不同，网络分析表明，金融科技公司大多参与了战略合作伙伴关系，只有少数银行收购了金融科技公司或获得了其财务权益。我们用技术本身的特点以及银行推迟进行IT基础设施现代化的根本性决策来解释传统银行对全面认可数字化金融服务新可能性的克制态度。
