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Digital disruption diversified : FinTechs and the emergence of a coopetitive market ecosystem

Larsson, Bengt ; Rolandsson, Bertil LU ; Ilsøe, Anna LU orcid ; Larsen, Trine Pernille ; Lehr, Alex and Masso, Jaan (2023) In Socio-Economic Review p.1-21
Abstract (Swedish)
This article analyses the development of FinTech companies in relation to traditional banks in four countries: Denmark, Estonia, the Netherlands and Sweden. Based on approaches drawn from the sociology of markets and field theory, we analyse and theorize about empirical data from secondary sources, official documents and 38 interviews with key actors. Whereas digital technologies have been commonly depicted as a source of disruption for established business models, suggesting that the rise of FinTech leads to competitive upheaval in the financial sector, more recent studies argue that such interpretations are exaggerated. Here, we propose the emergence of a ‘coopetitive’ market ecosystem that combines co-operative and competitive... (More)
This article analyses the development of FinTech companies in relation to traditional banks in four countries: Denmark, Estonia, the Netherlands and Sweden. Based on approaches drawn from the sociology of markets and field theory, we analyse and theorize about empirical data from secondary sources, official documents and 38 interviews with key actors. Whereas digital technologies have been commonly depicted as a source of disruption for established business models, suggesting that the rise of FinTech leads to competitive upheaval in the financial sector, more recent studies argue that such interpretations are exaggerated. Here, we propose the emergence of a ‘coopetitive’ market ecosystem that combines co-operative and competitive connections between incumbents and challengers who often share the same infrastructure. FinTech firms are shown to function as catalysts in the transformation towards this ecosystem shaped by coopetitive interdependence between the actors. (Less)
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author
; ; ; ; and
publishing date
type
Contribution to journal
publication status
epub
subject
in
Socio-Economic Review
pages
1 - 21
publisher
Oxford University Press
ISSN
1475-1461
DOI
10.1093/ser/mwad046
language
English
LU publication?
no
id
f28bc35b-743a-4841-8bcd-c76269a207b8
date added to LUP
2023-07-22 23:22:00
date last changed
2023-08-07 12:00:22
@article{f28bc35b-743a-4841-8bcd-c76269a207b8,
  abstract     = {{This article analyses the development of FinTech companies in relation to traditional banks in four countries: Denmark, Estonia, the Netherlands and Sweden. Based on approaches drawn from the sociology of markets and field theory, we analyse and theorize about empirical data from secondary sources, official documents and 38 interviews with key actors. Whereas digital technologies have been commonly depicted as a source of disruption for established business models, suggesting that the rise of FinTech leads to competitive upheaval in the financial sector, more recent studies argue that such interpretations are exaggerated. Here, we propose the emergence of a ‘coopetitive’ market ecosystem that combines co-operative and competitive connections between incumbents and challengers who often share the same infrastructure. FinTech firms are shown to function as catalysts in the transformation towards this ecosystem shaped by coopetitive interdependence between the actors.}},
  author       = {{Larsson, Bengt and Rolandsson, Bertil and Ilsøe, Anna and Larsen, Trine Pernille and Lehr, Alex and Masso, Jaan}},
  issn         = {{1475-1461}},
  language     = {{eng}},
  month        = {{07}},
  pages        = {{1--21}},
  publisher    = {{Oxford University Press}},
  series       = {{Socio-Economic Review}},
  title        = {{Digital disruption diversified : FinTechs and the emergence of a coopetitive market ecosystem}},
  url          = {{http://dx.doi.org/10.1093/ser/mwad046}},
  doi          = {{10.1093/ser/mwad046}},
  year         = {{2023}},
}