Innovation Management Journal

Innovation Management Journal

A Framework for Analyzing the Role of Fin techs in Bank Money Creation

Document Type : Original Article

Authors
saeed farahanifard 1
mohammadi hasan maleki 2
mahdi mohammadi khanghah 3
1 Professor of Islamic Economics, Faculty of Economics and Administrative Sciences, University of Qom, Qom, Iran (responsible author). saeed.farahanifard@gmail.com
2 Professor of Management, Department of Management, Faculty of Economics and Administrative Sciences, Qom University, Qom, Iran mh.maleki@qom.ac.ir
3 PhD student of Islamic Economics of Qom University, Qom, Iran m.mohammadikhah@qom.ac.ir
10.22034/imj.2025.474213.2846
Abstract
Fintechs, by leveraging new technologies, have revolutionized the provision of financial services, introducing new possibilities and innovations. These innovations have been accompanied by both threats and opportunities for traditional banks and have created diverse approaches among banks and fintechs. This research, conducted with a mixed approach, identifies the most important factors affecting the extent of fintechs' role in bank money creation, considering the diversity of fintechs and the status of banks, in order to provide a framework and to be considered as a moderating factor in research results in this area. To this end, in the qualitative section, factors were analyzed in several stages using the fuzzy Delphi method and interviews with banking and fintech experts. In the first step, factors affecting bank risk management were extracted based on a review of previous research and interviews with experts. In the second step, 28 extracted factors were screened and 13 factors were selected for final prioritization by distributing a questionnaire among experts and using the fuzzy Delphi method. In the third step, the factors were prioritized based on the Marcus method, in which the fintech's field of activity and the central bank's role in regulating the fintech sector were identified as the most important factors by experts.
Keywords
Fintech
bank
money creation
fuzzy Delphi
Marcus
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  • Receive Date 25 May 2024
  • Revise Date 22 January 2025
  • Accept Date 03 September 2024