- Title
- The emergence of financial technology firms in the South African financial services industry
- Creator
- Ngwenya, Thabani Raymond
- Subject
- Banks and banking -- Technological innovations
- Subject
- Banks and banking -- Data processing
- Subject
- Financial institutions -- South Africa
- Date Issued
- 2024-12
- Date
- 2024-12
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10948/70012
- Identifier
- vital:78273
- Description
- Since the 2008 financial crisis, FinTech firms have played an increasingly important role in addressing the needs of the financial services industry. Moreover, investors' increasing appetite to capitalise on FinTech technologies demonstrates a shifting paradigm in the perspective of traditional FSPs and their future role in the industry. To this end, there is cautious optimism about the long-term implications of the successful emergence of FinTech firms as mainstays of the industry. On the one hand, FinTech firms are considered the solution to facilitating an era of financial services that allows financially excluded or underbanked individuals to participate in the ecosystem in order to build wealth. On the other hand, their novelty and highrisk appetite are deemed disruptive to industry incumbents, who have sought to reign them into their sphere of control. A comprehensive review of secondary sources was conducted to gain insight into what is already known about FinTech firms and their role in the financial services industry. In particular, South African FinTech firms were investigated by interviewing employees and owners of these entities. A non-probability sampling approach was implemented, which involved purposive and snowball techniques to identify participants. In total, 14 participants took part in the study, which was enough to ensure sufficient data redundancy. The data collected were analysed in a two-stage process, initial and final coding, by applying incidentby- incident coding. Subsequently, nine themes were derived from the data analysis process, which described the practices and processes of South African FinTech firms and their environment. Although the study findings indicate that FinTech firms can be disruptive innovators, there is also a consensus that some market segments require disruption and could benefit from leveraging the innovative nature of FinTech firms. Moreover, the findings indicate that where appropriate, traditional FSPs and FinTech firms are more likely to achieve better collective outcomes through the exploration of collaborative opportunities as opposed to fierce rivalry.
- Description
- Thesis (MCom) -- Faculty of Business and Economic Sciences, School of Management Sciences , 2024
- Format
- computer
- Format
- online resource
- Format
- application/pdf
- Format
- 1 online resource (187 pages)
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
- Rights
- All Rights Reserved
- Rights
- Open Access
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- Visitors: 9
- Downloads: 2
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | NGWENYA, T.pdf | 3 MB | Adobe Acrobat PDF | View Details Download |