Type of Publication: Article in Collected Edition

Four Shades of Customer: How Value Flows in Fintech Ecosystems

Author(s):

Woroch, Robert; Strobel, Gero; Wulfert, Tobias

Title of Anthology:

Proceedings of the 43rd International Conference on Information Systems (ICIS2022)

pages:

1-17

Location(s):

Copenhagen, Denmark

Publication Date:

2022

Link to complete version:

https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1086&context=icis2022

Citation:

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Abstract

The financial sector is undergoing a massive transformation, with new technologydriven players challenging established mechanisms and transforming the sector into a fast-moving market. With the gradual transition from a scale economy to a platformdriven network economy, enterprise networks are gaining strategic importance. Despite the growing interest in fintech’s, research has so far lacked a conceptualization of value creation in fintech ecosystems. Therefore, this research paper aims to analyze key players, value creation activities, and value streams based on the analysis of the business models of payment services, personal financial management, robo-advisory, peer-topeer lending, trading, and cryptocurrency. We present a holistic value network for the fintech ecosystem based on structured literature review and analysis of 171 fintech companies. We were able to show that fintech platform orchestrates multiple market sides and that customers take four distinct roles at the center of the ecosystem when using fintech services.