Identifying the Pattern of Fintech Development in Iran by the Technological Innovation System Approach

Document Type : Original Article

Authors

1 Department of Industrial Management, Faculty of Management, University of Tehran, Tehran, Iran

2 Assistant Prof., Department of Industrial Management, Faculty of Management, University of Tehran, Tehran, Iran.

10.22034/qjimdo.2022.327013.1481

Abstract

Background & Purpose: With the change in the paradigm of the financial mechanism and payment systems, the importance of moving towards fintechs has become more clear for financial institutions, banks and the government. Therefore, in this study, the pattern of formation and growth of the fintech technological innovation system and the identification of the components influencing Its formation and development phase is presented.
Methodology: In this research, qualitative method and case study research strategy were used. To collect data, 28 activists in this field were interviewed by snowball method, and the content of relevant documents was also reviewed. The validity and reliability of the research was confirmed using the validation techniques of Andris (2003) and the reliability techniques of Perry and Rao (2003).
Findings: The analysis of the research data showed that during the last decade, the formation and development of the technological innovation system in the field of fintech has taken place as a result of the formation of structural and institutional factors. The origin of the formation of the market in the field of fintech was from individual start-ups and in response to the emerging needs of the empty corners of the financial markets, business to end customer and business to business. In the next phase, entrepreneurship and investment by large organizations and banks, interactions and finally academic entrepreneurship have been effective in the development of this field.
Conclusion: Considering that the use of technical and financial facilities of banks and financial institutions have played a very prominent role in the development of fintech, drafting support packages for the entry of more and more of these centers into the field of fintech as well as exemptions It should be given the attention of policy makers in this area.

Keywords

References

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