Abstract
The financial industry has been strongly influenced by digitalization in the past few years reflected by the emergence of “FinTech,” which represents the marriage of “finance” and “information technology.” FinTech provides opportunities for the creation of new services and business models and poses challenges to traditional financial service providers. Therefore, FinTech has become a subject of debate among practitioners, investors, and researchers and is highly visible in the popular media. In this study, we unveil the drivers motivating the FinTech phenomenon perceived by the English and German popular press including the subjects discussed in the context of FinTech. This study is the first one to reflect the media perspective on the FinTech phenomenon in the research. In doing so, we extend the growing knowledge on FinTech and contribute to a common understanding in the financial and digital innovation literature. These study contributes to research in the areas of information systems, finance and interdisciplinary social sciences. Moreover, it brings value to practitioners (entrepreneurs, investors, regulators, etc.), who explore the field of FinTech.
Highlights
The world of finance, the banking sector, is of undoubted importance to the daily lives of people worldwide
Who, where, and what In this subsection, we address the first part of the research question and identify the primary actors stimulating the phenomenon over time
This study addresses the following question: What factors influence the perception of FinTech through the lens of the media, and how has this influence been changing over time? To approach the research question and to provide a better understanding of the topic, we consider the drivers of FinTech that shape the phenomenon and, we examine the themes discussed by the media in the context of FinTech
Summary
The world of finance, the banking sector, is of undoubted importance to the daily lives of people worldwide. Traditional banking has changed significantly during the last century but, today, a new epoch of financial service, called “FinTech,” has emerged. This sector represents a challenging environment because it has barely been explored. The amount of investment in the industry has almost doubled to USD 22.2 billion for the year 2015 (Skan et al 2016). These figures demonstrate that the sector is highly visible in the world of finance and, provides fertile ground for further ingenious ideas and research. FinTech brings new opportunities for individual empowerment, for example, by allowing transparency, reducing costs, or cutting
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