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Abstract
Research background: Cross-border activities for FinTech companies in several markets bring them completely new opportunities and drive the appetite for new deals, but the complexity of doing business internationally is often underestimated: many risks, which have an influence of business models, can be determined. The emphasis of this research is on those risks that can be brought into particularly correlation with the cross-border activities of a FinTech company and at the same time influence the whole business activity of it. Purpose of the article: The aim of this research is to find out what kind of risks corresponds to so called cross-border risk-group and is the most common for internationally designed FinTech business models. Additionally, to determine those business model areas, which are influenced by cross-border risks the most and must be created with focus on avoiding, mitigating or sharing these risks. Methods: To achieve the goal the authors interviewed representatives of different FinTech companies. In these interviews, experts were asked to describe the most significant risks and to assess the importance of them for each business model dimension by using the Likert’s scale as well as to explain the dependencies and the consequences of their influence on different business model areas. Findings & Value added: The result of this research forms the basis for conclusions about the most significant cross-border risks and their impact on dimensions of a business model as well as makes recommendations possible for those FinTech-enthusiasts who are going to model their FinTech business internationally.
Highlights
Globalisation is a process which “...accelerates the flow of people, goods, services, capital, energy and information across country borders” [1]
The aim of this research is to find out what kind of risks corresponds to so called crossborder risk-group and is the most common for internationally designed FinTech business models
There are several advantages, which allow using business models as a basis of undertaking a risk assessment: “...enables risk specialists to partner with the business; adds transparency around the impact of new market challenges” [3]
Summary
Globalisation is a process which “...accelerates the flow of people, goods, services, capital, energy and information across country borders” [1]. It is very important to be aware of risks while creating a new business model or widening the existing one when company is going to operate internationally: consequences of each risk, that is not timely and qualitatively identified and assessed, and mitigated, are usually measured in financial outflows. This aspect must be seen as avoidable for a company with the objective to operate successfully and sustainably
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