Date post: | 19-Mar-2017 |
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Economy & Finance |
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FinTech partnerships- research based analysis
Ilkka Lähteenmäki
- 20+ years in banking- Inc. 10+ years of financial research- 2011-2016 in Danske Bank
- Head of business development in PB- Head of strategy planning in FIN
- Partner in two start-ups- Since Oct. 2016 research network of FinTech- Together with the Bank of Finland and
Ministry on Finance a FinTech Institute- Ph.D. about banking development &
partnerships- 7 journal & conference publications
FinTech causation research
Financial business:- Business models- Competencies- Competition- Co-operations- Management- Customer experience- Value creation- Partnerships
Incumbents & FinTech start-upsAnalysis framework1. Time horizon2. Depth of the relationship3. Dominance4. Customer value creation
1. Time horizon
Salaries online
ATMs
Tele-banking
PC-banks
Internet banking
Mobile
60´s
70´s
80´s
90’s
2000’s
2010’s
Apps
50´s
FinTech
Screen scraping
1930 1940 1950 1960 1970 1980 1990 2000
Economic Conceptions of Competition
Emergence of Organisations: Social PerspectivesEmergence of Organisations: Economic Perspectives
Imprinting Processes
Systems Related and Theories
Strategic Choice
Transaction Cost Theory (Price and Authority)Resource Dependence - Structural Approach
Class-based ApproachesInstitutional Theory
Institutional Theory of Markets
Internal Structures and Processes: A
Organisations as Cultural MappingsInternal Structures and Processes: B
Internal Structures and Processes: CEcological Dynamics of Organisational Populations
Organisation-environment Relations: Institutional ProcessesDensity-dependent Legitimation/Competition
Networks and NichesStatus
Niche WidthResource Partitioning TheoryDiffusion of Organisational Forms
Selective Replacement of Old Forms by New Forms
Stakeholder Theory of the FirmOrganisational Learning
Theories contributing to inter-firm organisations
Bank
Environment
other firm
partnership
relation
External reasons(RDP)-uncertainty-dependency-possibility
Partnership-specific reasoning(TCE, RBV, IMP)
Industry-specific reasons-specialisation-openness-policy-approach to uncertainty
-cost based-resource based-relation based
2. Depth of the relationship
3. Dominance
Start-up dominance
Incumbent dominance
Co-operationCompetition
4. Customer value creation
Value creation spheres
False True
Value:- Value-in-production- Value-in-use- Co-creation- Service dominant logic- Customer dominant logic
APIs and open banking
Source: http://openbankproject.com/for-banks/
A few cases
Analysis
API andopen banking
3rd partyapplications
FinTech
Banking-as-a-service
Platform economy
Genericplatforms
IoT
Banking-in-a-service
DAOs
ReplacedBanking Services
Value delivery level
Conclusions• From hackathons to permanent phase• Development on the banking platform (OBP) – service on the
customer’s platform (contextual banking)• From competition to co-operation• From bank dominance to win-win• FinTech moves banking closer to customers• Why FinTech start-up• Business culture, lean, flexibility
• Hubs and institutes as FinTech networks
Thanks!