Abstract
Purpose – the purpose of this research is to contribute to the business modelling in FinTech with criteria, which could FinTech companies to critically evaluate the performance of their business model, its relevance and timeliness, its compli-ance with set goals and value topicality. Research methodology – in this research, authors used semi-structured interviews with continuous comparative analysis method and content analysis method. Findings – this research forms the basis for conclusions about relevant business model elements and criteria, which de-serve closer attention while modelling FinTech business and could be relevant for evaluating the FinTech business model for sustainability reasons. Research limitations – in time, when there is no consistent theoretical approach to business modelling including aspects of sustainability, this could be the first step on the way of extending the business modelling theory and improving the practice. Practical implications – predefined criteria will enable focusing on particular criteria in the context of time, costs, flexibil-ity and quality within the business modelling and taking these indicators for measuring the performance of the model and manage the risk of getting commercially nonviable. Originality/Value – business model tools typically do not create a space for considering how sustainability concerns may be integrated into the business modelling process.
Highlights
Research limitations – in time, when there is no consistent theoretical approach to business modelling including aspects of sustainability, this could be the first step on the way of extending the business modelling theory and improving the practice
All experts share the unanimous opinion that FinTech companies, which deal with creating their business models “are linked to sustainability goals and objectives”
This justifies the need to regularly checking the business model for achieved results and in the context of long-term availability of these results. This activity could be seen as an additional advantage for FinTech business modelling because companies could build a set of strategically important key elements with the aim to “optimize their business models, reduce risks or acquire resources if needed”
Summary
Research limitations – in time, when there is no consistent theoretical approach to business modelling including aspects of sustainability, this could be the first step on the way of extending the business modelling theory and improving the practice. There is not a wide range of prepared or predefined tools available in order to support FinTech companies by checking their business models for sustainability reasons. Sustainability as an imperative component of evaluating business modells in FinTech maintain its business model in terms of sustainability, because “the pressure to operate sustainably has significantly increased” (Müller, 2017). It doesn’t mean that companies don’t have to work out their own systemic approach and include the sustainability indicators or measurement tools that support them to model “in a manner that generates shared value creation for all stakeholders including the environment and society” (Konnerz, Rohrbeck, & Knab, 2011). For the authors of this research, who are working in the FinTech industry for years, it could help to implement these criteria in their current business area
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