Transformation Dynamics In Fintech An Open Innovation Ecosystem Outlook
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Author | : Anne-laure Mention |
Publisher | : World Scientific |
Total Pages | : 380 |
Release | : 2021-10-13 |
Genre | : Business & Economics |
ISBN | : 9811239746 |
Technology-driven innovation in financial services has been attracting global attention and interest. FinTech innovation is presenting a paradigm shift in financial services affecting a wide range of products, processes and services but also sparking a broader evolutionary transformation, growth opportunities and foundational systemic and structural changes in light of technological interdependencies among market players, infrastructures and ecosystem stakeholders.Transformation Dynamics in FinTech contributes to the intellectual curiosity around the symbiotic relationship of finance and technology by focusing on the multidimensional and multidisciplinary role of open innovation within FinTech innovation, observing and communicating the latest technological, managerial, governance, policy and regulatory perspectives, trends and developments.This book is an essential reading for anyone interested in the growing and evolving development of FinTech ecosystems based on new capabilities and structures that create new dominant architectural designs, which determine competitive dynamics, products, services, processes, business models, markets, value chains, within an open and transformed financial services industry landscape.
Author | : Allam Hamdan |
Publisher | : Springer Nature |
Total Pages | : 1145 |
Release | : 2023-10-03 |
Genre | : Technology & Engineering |
ISBN | : 3031358287 |
This book explores how AI is transforming digital marketing and what it means for businesses of all sizes and looks at how AI is being used to personalize content, improve targeting, and optimize campaigns. This book also examines some of the ethical considerations that come with using AI in marketing.
Author | : Daniel Fasnacht |
Publisher | : Springer Science & Business Media |
Total Pages | : 219 |
Release | : 2009-02-11 |
Genre | : Business & Economics |
ISBN | : 3540882316 |
Open innovation means gathering new ideas from sources beyond organizational boundaries. It occurs when solutions to address clients’ needs are developed in collaboration and the resulting products and services are distributed through a flexible network of partners. Daniel Fasnacht’s book, the first of its kind, discusses open business models in the context of the financial services industry. He elaborates the drivers for strategic change such as increasingly sophisticated clients or demanding shareholders among other trends, including the recent global financial crisis, and explains why the transition from a closed model of operation to open innovation is vital. Various case studies illustrate how to integrate the client into the firm's innovation process and emphasize the importance of smart client segmentation and a holistic advisory model to serve clients around the globe. Leaders must develop a set of new management practices to be able to invest in multiple strategic directions. They are responsible for giving clients a remarkable experience and for creating social relationship capital based upon an open innovation culture. Open Innovation in the Financial Services provides a much-needed framework for helping to understand industry dynamics in banking and to make the most of organizational energy by using open innovation to sustain profitable growth. The book comes at the right time and offers a new mindset for business – not only for expansion strategies in general, but especially during turbulent times.
Author | : Anne-Laure Mention |
Publisher | : Cambridge Scholars Publishing |
Total Pages | : 370 |
Release | : 2014-10-21 |
Genre | : Business & Economics |
ISBN | : 1443870153 |
This book gathers together some of the most up-to-date thinking in the growing field of innovation in services and more particularly, in financial services. It explores the peculiarities of innovation in financial services firms and surrounding market players, discusses the open nature of the innovation process, and analyses its success factors and its interplay with strategy and performance. This book provides topical insights on the challenges facing the financial industry, such as the convergence with other sectors, and the increasing regulatory burden. By combining multidisciplinary approaches and by selecting a number of cutting-edge research models, theories, empirical findings and practitioners’ insights, it offers unique, contemporary and multidimensional perspectives on innovation for a sector of paramount importance for the running of economies around the world. This book comes at a time of turbulence, uncertainty and within an industry in need of vision and strategic foresight. By synthesizing multiple views from academia and practice, it opens the agenda and contributes to the on-going debate of redefining the multi-polar role of innovation in the financial industry.
Author | : K. Thomas Liaw |
Publisher | : Routledge |
Total Pages | : 513 |
Release | : 2021-06-14 |
Genre | : Business & Economics |
ISBN | : 1000375730 |
The Routledge Handbook of FinTech offers comprehensive coverage of the opportunities, challenges and future trends of financial technology. This handbook is a unique and in-depth reference work. It is organised in six thematic parts. The first part outlines the development, funding, and the future trends. The second focuses on blockchain technology applications and various aspects of cryptocurrencies. The next covers FinTech in banking. A significant element of FinTech, mobile payments and online lending, is included in the fourth part. The fifth continues with several chapters covering other financial services, while the last discusses ethics and regulatory issues. These six parts represent the most significant and overarching themes of FinTech innovations. This handbook will appeal to students, established researchers seeking a single repository on the subject, as well as policy makers and market professionals seeking convenient access to a one-stop guide.
Author | : Henri Arslanian |
Publisher | : Springer |
Total Pages | : 318 |
Release | : 2019-07-15 |
Genre | : Business & Economics |
ISBN | : 3030145336 |
This book, written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, is a glimpse on what the future of the financial services will look like and the impact it will have on society. The first half of the book provides a detailed yet easy to understand educational and technical overview of FinTech, artificial intelligence and cryptocurrencies including the existing industry pain points and the new technological enablers. The second half provides a practical, concise and engaging overview of their latest trends and their impact on the future of the financial services industry including numerous use cases and practical examples. The book is a must read for any professional currently working in finance, any student studying the topic or anyone curious on how the future of finance will look like.
Author | : Henry Chesbrough |
Publisher | : John Wiley & Sons |
Total Pages | : 88 |
Release | : 2011-01-18 |
Genre | : Business & Economics |
ISBN | : 0470905743 |
The father of "open innovation" is back with his most significant book yet. Henry Chesbrough’s acclaimed book Open Innovation described a new paradigm for management in the 21st century. Open Services Innovation offers a new approach that demonstrates how open innovation combined with a services approach to business is an effective and powerful way to grow and compete in our increasingly services-driven economy. Chesbrough shows how companies in any industry can make the critical shift from product- to service-centric thinking, from closed to open innovation where co-creating with customers enables sustainable business models that drive continuous value creation for customers. He maps out a strategic approach and proven framework that any individual, business unit, company, or industry can put to work for renewed growth and profits. The book includes guidance and compelling examples for small and large companies, services businesses, and emerging economies, as well as a path forward for the innovation industry. "Whether you are managing a product or a service, your business needs to become more open and more inclusive in order to be more innovative. Open Services Innovation will be an invaluable guide to intrepid managers who commit to making that journey." —GARY HAMEL, visiting professor, London Business School; director, Management Lab; and author, The Future of Management "I tore out page after page to share with my leaders. Chesbrough has pioneered an entire rethink of business innovation that’s rich in concept, deeply explained, with tools ready to use in every industry." —SCOTT COOK, founder and chairman of the executive committee, Intuit "Focusing on core competence often tempts managers to keep continuing what succeeded in the past. A far more important question is what capabilities are critical in the future, and Chesbrough shows how to ask and answer these issues." —CLAYTON CHRISTENSEN, Robert & Jane Cizik Professor of Business Administration, Harvard Business School, and author, The Innovator's Dilemma "To thrive, businesses will need to master the lessons of open service innovation. Here is their one-stop guidebook with important lessons clearly and compellingly presented." —JAMES C. SPOHRER, director, IBM University Programs World-Wide "Open Innovation pioneer Henry Chesbrough breaks new ground with Open Services Innovation, a persuasive argument for the power of co-creation in the world of services." —TOM KELLEY, general manager, IDEO, and author, The Ten Faces of Innovation, The Art of Innovation "With his trademark style of beautifully explained examples, Henry Chesbrough shows how open service innovation and new business models can help you escape this product commodity trap and bring you to the next level of competition." —ALEX OSTERWALDER, author, Business Model Generation "Open Services Innovation shows how a business can redefine itself as a service organisation and tap into faster growth through shared innovation." —SIR TERRY LEAHY, chief executive, Tesco "Chesbrough shows how innovating openly with a services mindset can make you a market leader." —CHARLENE LI, author, Open Leadership, and founder, Altimeter Group
Author | : Karen G. Mills |
Publisher | : Springer |
Total Pages | : 202 |
Release | : 2019-03-12 |
Genre | : Business & Economics |
ISBN | : 3030036200 |
Small businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult to get the capital they need to operate and succeed. In the Great Recession, access to capital for small businesses froze, and in the aftermath, many community banks shuttered their doors and other lenders that had weathered the storm turned to more profitable avenues. For years after the financial crisis, the outlook for many small businesses was bleak. But then a new dawn of financial technology, or “fintech,” emerged. Beginning in 2010, new fintech entrepreneurs recognized the gaps in the small business lending market and revolutionized the customer experience for small business owners. Instead of Xeroxing a pile of paperwork and waiting weeks for an answer, small businesses filled out applications online and heard back within hours, sometimes even minutes. Banks scrambled to catch up. Technology companies like Amazon, PayPal, and Square entered the market, and new possibilities for even more transformative products and services began to appear. In Fintech, Small Business & the American Dream, former U.S. Small Business Administrator and Senior Fellow at Harvard Business School, Karen G. Mills, focuses on the needs of small businesses for capital and how technology will transform the small business lending market. This is a market that has been plagued by frictions: it is hard for a lender to figure out which small businesses are creditworthy, and borrowers often don’t know how much money or what kind of loan they need. New streams of data have the power to illuminate the opaque nature of a small business’s finances, making it easier for them to weather bumpy cash flows and providing more transparency to potential lenders. Mills charts how fintech has changed and will continue to change small business lending, and how financial innovation and wise regulation can restore a path to the American Dream. An ambitious book grappling with the broad significance of small business to the economy, the historical role of credit markets, the dynamics of innovation cycles, and the policy implications for regulation, Fintech, Small Business & the American Dream is relevant to bankers, fintech investors, and regulators; in fact, to anyone who is interested in the future of small business in America.
Author | : Niels Pedersen |
Publisher | : Kogan Page Publishers |
Total Pages | : 273 |
Release | : 2020-12-03 |
Genre | : Business & Economics |
ISBN | : 1789665442 |
With the continued success of fintech (financial technology) businesses around the world, financial services are becoming increasingly de-centralized, personalized, and automated. This new textbook strikes a balance between academic depth and commercial relevance in examining the advantages and challenges of these changes through the lens of various analytical frameworks. Financial Technology demystifies key technologies, such as blockchains, APIs, AI, machine learning, and cloud computing, in a clear and accessible style suitable for readers with no technological background. Real-world case studies from a variety of international organizations including Lloyds Bank, TransferWise, Generali, Starling and Stocktwits, bridge the gap between theory and practice and contextualize learning in terms of real businesses, from large incumbents to smaller start-ups. With coverage of robo-advisors, mobile-only banks, open banking and risk and regulation, this book also explores a range of analytical frameworks to critically examine new technologies and emerging business models. Financial Technology enables readers to understand the fintech movement in the context of recent financial history, examine the key drivers of change and form insights about the financial system in a forward-looking and global manner. Online resources include PowerPoint slides for lecturers and additional case studies.
Author | : Yuzhuo Cai |
Publisher | : |
Total Pages | : 320 |
Release | : 2020-10-08 |
Genre | : |
ISBN | : 9783039365753 |
Higher education has been considered both an 'engine' for innovation and a 'catalyst' for sustainability development; the integration of both the innovation engine and sustainability catalyst roles are discussed in a recently published Special Issue on the theme of Higher Education in Innovation Ecosystems in the journal Sustainability. Based on 16 articles contributing to the Special Issue from various perspectives, the Special Issue editors have developed an overarching framework about the relationships between higher education and innovation ecosystems. In the framework, we re-define the concept of innovation ecosystem and identify emerging roles of universities in developing sustainable innovation ecosystems. Re-conceptualization of innovation ecosystems In the editorial of the Special Issue, innovation ecosystem is defined as: co-innovation networks in which actors from organizations concerned with the functions of knowledge production, wealth creation, and norm control interact with each other in forming co-evolution and interdependent relations (both direct or indirect) in cross-geographical contexts and through which new ideas and approaches from various internal and external sources are integrated into a platform to generate shared values for the sustainable transformation of society. Compared with most commonly cited definitions of innovation ecosystem, our definition highlights three new aspects of interactions in co-innovation networks: cross-sectoral, transnational, and indirect, drawing insights from the literature including innovation, geography, and biology studies. The roles of universities in innovation ecosystems The emerging roles of universities in innovation ecosystems are as follows: (1) The role of universities is changing from being a central player in technology transfer to being an anchor in knowledge exchange; (2) universities are assuming a new role in trust-building between actors in innovation ecosystems; and (3) universities are not merely an entrepreneurial universities but are also institutional entrepreneur in the innovation ecosystem. The three emerging roles all indicate that universities are becoming the catalysts for sustainable development in innovation ecosystems. Knowledge exchange is crucial for sustainability; trust is the foundation of the sustainable networks; social entrepreneurship is indispensable for sustainable social change. Evidence in wider contexts A total of 44 authors from 10 countries contributed to the discussions on the changing roles of higher education in innovation ecosystems from varying perspectives. They also report transformations within higher education and universities' responses to both external and internal transformations. When addressing these issues, the studies provide both theoretical and methodological contributions to the research on higher education in innovation ecosystems. The 16 articles can be generally placed into four categories: (1) new demands for universities arising from the transformation in society toward innovation ecosystems, (2) transformations within higher education responding to emerging societal demands, (3) dynamics of the interaction of university with other innovation actors in a transnational context, and (4) academic and student mobility for higher education innovation. Calling for a new research agenda While societal changes demand broader roles of universities, they also call for and leads to substantial changes within the internal fabric of the university. The innovations in both society and the universities necessitate a renewed understanding of higher education in society, which has become a new research agenda in studies on innovation in higher education. We hope our Special Issue will inspire and encourage more scholars to join the research field.