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Disruptive change within financial technology: A methodological analysis of digital transformation challenges

Laurie Hughes Orcid Logo, Jonathan JM Seddon Orcid Logo, Yogesh Dwivedi Orcid Logo

Journal of Information Technology

Swansea University Author: Yogesh Dwivedi Orcid Logo

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DOI (Published version): 10.1177/02683962231219512

Abstract

The digital transformation of the FinTech industry has revealed a plethora of significant challenges for industry decision makers and wider stakeholder groups as organisations contend with the onset of new regulatory frameworks, legacy systems, flexible business models and alignment with corporate s...

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Published in: Journal of Information Technology
ISSN: 0268-3962 1466-4437
Published: SAGE Publications 2023
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URI: https://cronfa.swan.ac.uk/Record/cronfa65098
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first_indexed 2023-11-25T14:23:17Z
last_indexed 2023-11-25T14:23:17Z
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spelling v2 65098 2023-11-25 Disruptive change within financial technology: A methodological analysis of digital transformation challenges d154596e71b99ad1285563c8fdd373d7 0000-0002-5547-9990 Yogesh Dwivedi Yogesh Dwivedi true false 2023-11-25 CBAE The digital transformation of the FinTech industry has revealed a plethora of significant challenges for industry decision makers and wider stakeholder groups as organisations contend with the onset of new regulatory frameworks, legacy systems, flexible business models and alignment with corporate social responsibility practice. The reshaping of organisations and drive to greater levels of decentralisation and employee centric practice, presents a cultural shift for the sector, with implications for the success and resulting benefits of change across the industry. This study aims to develop novel insight to the ‘lived in’ impact of digital transformation within the FinTech industry from a factor interdependency perspective. This research adopts a mixed methods approach incorporating Interpretive Structural Modelling, Analytical Hierarchy Process and interviews with expert participants, to offer a unique perspective on the challenges and unintended consequences of industry level technological change. The findings highlight the high levels of interdependency and priority for challenges related to the investment in products and infrastructure for new markets, criticality of stakeholder support and development of a digital mindset for the adoption of new technologies. Journal Article Journal of Information Technology SAGE Publications 0268-3962 1466-4437 Financial technology, digital transformation, interpretive structural modelling, analytical hierarchy process 18 12 2023 2023-12-18 10.1177/02683962231219512 http://dx.doi.org/10.1177/02683962231219512 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University Another institution paid the OA fee 2024-10-09T11:51:32.9961684 2023-11-25T14:19:26.5971007 Faculty of Humanities and Social Sciences School of Management - Business Management Laurie Hughes 0000-0002-0956-0608 1 Jonathan JM Seddon 0000-0001-5689-9471 2 Yogesh Dwivedi 0000-0002-5547-9990 3 65098__29292__47c2411136af42d1a648f4841a234a31.pdf 65098.VOR.pdf 2023-12-19T15:02:49.7681248 Output 2710825 application/pdf Version of Record true Distributed under the terms of a Creative Commons Attribution 4.0 International License (CC BY 4.0). true eng https://creativecommons.org/licenses/by/4.0/
title Disruptive change within financial technology: A methodological analysis of digital transformation challenges
spellingShingle Disruptive change within financial technology: A methodological analysis of digital transformation challenges
Yogesh Dwivedi
title_short Disruptive change within financial technology: A methodological analysis of digital transformation challenges
title_full Disruptive change within financial technology: A methodological analysis of digital transformation challenges
title_fullStr Disruptive change within financial technology: A methodological analysis of digital transformation challenges
title_full_unstemmed Disruptive change within financial technology: A methodological analysis of digital transformation challenges
title_sort Disruptive change within financial technology: A methodological analysis of digital transformation challenges
author_id_str_mv d154596e71b99ad1285563c8fdd373d7
author_id_fullname_str_mv d154596e71b99ad1285563c8fdd373d7_***_Yogesh Dwivedi
author Yogesh Dwivedi
author2 Laurie Hughes
Jonathan JM Seddon
Yogesh Dwivedi
format Journal article
container_title Journal of Information Technology
publishDate 2023
institution Swansea University
issn 0268-3962
1466-4437
doi_str_mv 10.1177/02683962231219512
publisher SAGE Publications
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
url http://dx.doi.org/10.1177/02683962231219512
document_store_str 1
active_str 0
description The digital transformation of the FinTech industry has revealed a plethora of significant challenges for industry decision makers and wider stakeholder groups as organisations contend with the onset of new regulatory frameworks, legacy systems, flexible business models and alignment with corporate social responsibility practice. The reshaping of organisations and drive to greater levels of decentralisation and employee centric practice, presents a cultural shift for the sector, with implications for the success and resulting benefits of change across the industry. This study aims to develop novel insight to the ‘lived in’ impact of digital transformation within the FinTech industry from a factor interdependency perspective. This research adopts a mixed methods approach incorporating Interpretive Structural Modelling, Analytical Hierarchy Process and interviews with expert participants, to offer a unique perspective on the challenges and unintended consequences of industry level technological change. The findings highlight the high levels of interdependency and priority for challenges related to the investment in products and infrastructure for new markets, criticality of stakeholder support and development of a digital mindset for the adoption of new technologies.
published_date 2023-12-18T11:51:31Z
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score 11.035634

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