Fintech companies: taxonomy of services and development of innovations (on the example of Kaspi bank JSC
Journal Title: Journal of Economic Research & Business Administration - Year 2023, Vol 143, Issue 1
Abstract
The financial sector of the Republic of Kazakhstan is facing a radical transformation. Using digital technologies to offer innovative services, new innovative developments are emerging in areas such as asset management, lending or insurance. Despite the growth in investment, there are very few theoretical ideas in the phenomenon of fintech companies. Until now, the proposals of fintech companies have been mainly studied from a functional point of view. Since the functional point of view is not enough to fully understand the proposals of fintech companies, a classification of non-functional characteristics is proposed. Therefore, the analysis of FinTech companies in the consumer-oriented sector is limited. The taxonomy proposed in this study includes “11 dimensions” structured by common interactions with prospects, data, and revenue generation. On this basis, this taxonomy contributes to descriptive knowledge about fintech companies, allowing researchers and practitioners to analyze the service offerings of fintech startups and organizations in Kazakhstan in a structured way. In addition, this article analyzed fintech startups and companies not only in Kazakhstan, but also in the world, covering many elements of product value chains. This was done in order to analyze the map of fintech startups and compare it with the domestic case of Kaspi.kz. At the same time, the impact of innovative products on the activities of Kaspi Bank JSC and its financial results is shown
Authors and Affiliations
K. U. Koshkarbayev, T. B. Birmagambetov, D. O. Khazin
Keywords
Related Articles
- EP ID EP714959
- DOI 10.26577/be.2023.v143.i1.09
- Views 74
- Downloads 0
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