Skip to main content

FinTech: An Innovative Green Entrepreneurship Model

  • Chapter
  • First Online:
Footprint and Entrepreneurship

Abstract

FinTech or financial technology has improved financial services through technology and innovation. These revolutionary financial companies are here to stay since they offer significant benefits to users, such as more incredible speed or lower commissions on their transactions. They are very competitive in the market, being more attractive than banks. Since the outbreak of the COVID-19 pandemic, many people are starting to start a business, and FinTechs represent an excellent opportunity to start a sustainable green business over time and fast-growing. Naturally, it is not an easy task to launch a new FinTech; it requires hard work, but it has great rewards. Due to those above, it is essential to analyze its implications deeply.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 79.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 99.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 129.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Agarwal S, Chua YH (2020) FinTech and household finance: a review of the empirical literature. Chin Finance Rev Int. https://doi.org/10.1108/CFRI-03-2020-0024

    Article  Google Scholar 

  2. Alam N, Gupta L, Zameni A (2019) Fintech Regulation. In: Alam N, Gupta L, Zameni A (eds) Fintech and Islamic finance: digitalization, development and disruption. Springer International Publishing, pp 137–158. https://doi.org/10.1007/978-3-030-24666-2_8

  3. Alt R, Beck R, Smits MT (2018) FinTech and the transformation of the financial industry. Electron Mark 28(3):235–243. https://doi.org/10.1007/s12525-018-0310-9

    Article  Google Scholar 

  4. Alvarez-Risco A, Del-Aguila-Arcentales S, Villalobos-Alvarez D, Diaz-Risco S (2022) Leadership for sustainability in crisis time. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 41–64. https://doi.org/10.1007/978-981-19-0549-0_3

  5. Anshari M, Almunawar MN, Masri M, Hamdan M (2019) Digital marketplace and FinTech to support agriculture sustainability. Energy Procedia 156:234–238. https://doi.org/10.1016/j.egypro.2018.11.134

    Article  Google Scholar 

  6. Arias-Meza M, Alvarez-Risco A, Cuya-Velásquez BB, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S (2022) Fashion and textile circularity and waste footprint. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 181–204. https://doi.org/10.1007/978-981-19-0549-0_9

  7. Arner DW, Buckley RP, Zetzsche DA, Robin V (2020) Sustainability, FinTech and financial inclusion. Eur Bus Organ Law Rev 21(1):7–35

    Article  Google Scholar 

  8. Bada A (2019) What are the different types of Fintech? Coinspeaker. Retrieved 01/01/2022 from https://www.coinspeaker.com/guides/different-types-of-fintech

  9. Brown E, Piroska D (2022) Governing Fintech and Fintech as governance: the regulatory sandbox, risk washing, and disruptive social classification. New Political Economy 27(1):19–32. https://doi.org/10.1080/13563467.2021.1910645

    Article  Google Scholar 

  10. Castillo-Benancio S, Alvarez-Risco A, Esquerre-Botton S, Leclercq-Machado L, Calle-Nole M, Morales-Ríos F, … Del-Aguila-Arcentales S (2022) Circular economy for packaging and carbon footprint. In Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 115–138. https://doi.org/10.1007/978-981-19-0549-0_6

  11. Chen MA, Wu Q, Yang B (2019) How Valuable Is FinTech Innovation? Rev Financ Stud 32(5):2062–2106. https://doi.org/10.1093/rfs/hhy130

    Article  Google Scholar 

  12. Chiu IHY (2017) A new era in Fintech payment innovations? A perspective from the institutions and regulation of payment systems. Law Innov Technol 9(2):190–234. https://doi.org/10.1080/17579961.2017.1377912

    Article  Google Scholar 

  13. Chuen DLK, Teo EG (2015) Emergence of FinTech and the LASIC principles. J Finan Perspect 3(3):24–36

    Google Scholar 

  14. Contreras-Taica A, Alvarez-Risco A, Arias-Meza M, Campos-Dávalos N, Calle-Nole M, Almanza-Cruz C, … Del-Aguila-Arcentales S (2022) Virtual education: carbon footprint and circularity. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 265–285. https://doi.org/10.1007/978-981-19-0549-0_13

  15. Cuya-Velásquez BB, Alvarez-Risco A, Gomez-Prado R, Juarez-Rojas L, Contreras-Taica A, Ortiz-Guerra A, … Del-Aguila-Arcentales S (2022) Circular economy for food loss reduction and water footprint. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 65–91. https://doi.org/10.1007/978-981-19-0549-0_4

  16. De-la-Cruz-Diaz M, Alvarez-Risco A, Jaramillo-Arévalo M, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S (2022) 3D print, circularity, and footprints. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 93–112. https://doi.org/10.1007/978-981-19-0549-0_5

  17. de las Mercedes Anderson-Seminario M, Alvarez-Risco A (2022) Better students, better companies, better life: circular learning. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 19–40. https://doi.org/10.1007/978-981-19-0549-0_2

  18. Degerli K (2019) Regulatory challenges and solutions for Fintech in Turkey. Procedia Comput Sci 158:929–937. https://doi.org/10.1016/j.procs.2019.09.133

    Article  Google Scholar 

  19. Del-Aguila-Arcentales S, Alvarez-Risco A, Muthu SS (2022) Measuring circular economy. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, (pp 3–17. https://doi.org/10.1007/978-981-19-0549-0_1

  20. Domínguez C (2021) Surgen nuevos modelos Fintech: Avanzan fuerte préstamos digitales o Lendingthec. Existen 491 empresas en AL que dan soluciones crediticias. Retrieved 01/01/2022 from http://fresno.ulima.edu.pe/ss_bd00102.nsf/RecursoReferido?OpenForm&id=PROQUEST-41716https://www.proquest.com/newspapers/surgen-nuevos-modelos-fintech/docview/2573327639/se-2?accountid=45277

  21. Esquerre-Botton S, Alvarez-Risco A, Leclercq-Machado L, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S (2022) Food loss reduction and carbon footprint practices worldwide: a benchmarking approach of circular economy. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 161–179. https://doi.org/10.1007/978-981-19-0549-0_8

  22. Finnovista (2018) Brazil regains Fintech leadership in Latin America and surpasses the 370 startup barrier [Brasil recupera el liderazgo Fintech en América Latina y supera la barrera de las 370 startups]. Retrieved 01/01/2022 from https://www.finnovista.com/radar/brasil-recupera-el-liderazgo-fintech-en-america-latina-y-supera-la-barrera-de-las-370-startups

  23. Gazel M, Schwienbacher A (2021) Entrepreneurial fintech clusters. Small Bus Econ 57(2):883–903

    Google Scholar 

  24. Goldstein I, Jiang W, Karolyi GA (2019) To FinTech and beyond. Rev Finan Stud 32(5):1647–1661. https://doi.org/10.1093/rfs/hhz025

    Article  Google Scholar 

  25. Gomber P, Kauffman RJ, Parker C, Weber BW (2018) On the Fintech revolution: interpreting the forces of innovation, disruption, and transformation in financial services. J Manage Inf Syst 35(1):220–265. https://doi.org/10.1080/07421222.2018.1440766

    Article  Google Scholar 

  26. Gomber P, Koch J-A, Siering M (2017) Digital finance and FinTech: current research and future research directions. J Bus Econ 87(5):537–580. https://doi.org/10.1007/s11573-017-0852-x

    Article  Google Scholar 

  27. Gómez-Prado R, Alvarez-Risco A, Sánchez-Palomino J, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S (2022) Circular economy for waste reduction and carbon footprint. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular Economy: Impact on Carbon and Water Footprint. Springer Singapore, pp 139–159. https://doi.org/10.1007/978-981-19-0549-0_7

  28. Gromek M (2018) Clarifying the blurry lines of FinTech: Opening the Pandora’s box of FinTech categorization 1. In: The rise and development of FinTech. Routledge, pp 168–189

    Google Scholar 

  29. Haddad C, Hornuf L (2019) The emergence of the global fintech market: economic and technological determinants. Small Bus Econ 53(1):81–105. https://doi.org/10.1007/s11187-018-9991-x

    Article  Google Scholar 

  30. Hinson R, Lensink R, Mueller A (2019) Transforming agribusiness in developing countries: SDGs and the role of FinTech. Curr Opin Environ Sustain 41:1–9. https://doi.org/10.1016/j.cosust.2019.07.002

    Article  Google Scholar 

  31. Hornuf L, Klus MF, Lohwasser TS, Schwienbacher A (2021) How do banks interact with fintech startups? Small Bus Econ 57(3):1505–1526

    Article  Google Scholar 

  32. Hudaefi FA (2020) How does Islamic fintech promote the SDGs? Qualitative evidence from Indonesia. Qual Res Finan Markets 12(4):353–366. https://doi.org/10.1108/QRFM-05-2019-0058

    Article  Google Scholar 

  33. Jiang S, Qiu S, Zhou H, Chen M (2019) Can FinTech development curb agricultural nonpoint source pollution? Int J Environ Res Public Health 16(22). https://doi.org/10.3390/ijerph16224340

  34. Juarez-Rojas L, Alvarez-Risco A, Campos-Dávalos N, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S (2022) Water footprint in the textile and food supply chain management: trends to become circular and sustainable. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S. (eds) Circular economy: impact on carbon and water footprint. Springer Singapore, pp 225–243. https://doi.org/10.1007/978-981-19-0549-0_11

  35. Khiaonarong T, Goh T (2020) FinTech and payments regulation: an analytical framework. J Payments Strategy Syst 14(2):157–171. https://www.ingentaconnect.com/content/hsp/jpss/2020/00000014/00000002/art00008

  36. Kim Y, Choi J, Park Y-J, Yeon J (2016) The adoption of mobile payment services for “Fintech.” Int J Appl Eng Res 11(2):1058–1061

    Google Scholar 

  37. Klus MF, Lohwasser TS, Holotiuk F, Moormann J (2019) Strategic alliances between banks and Fintechs for digital innovation: Motives to collaborate and types of interaction. J Entrepreneurial Financ 21(1):1

    Article  Google Scholar 

  38. Knewtson HS, Rosenbaum ZA (2020) Toward understanding FinTech and its industry. Manage Financ 46(8):1043–1060. https://doi.org/10.1108/MF-01-2020-0024

    Article  Google Scholar 

  39. Kohtamäki M, Parida V, Oghazi P, Gebauer H, Baines T (2019) Digital servitization business models in ecosystems: a theory of the firm. J Bus Res 104:380–392. https://doi.org/10.1016/j.jbusres.2019.06.027

    Article  Google Scholar 

  40. Lagna A, Ravishankar MN (2022) Making the world a better place with Fintech research. Inf Syst J 32(1):61–102. https://doi.org/10.1111/isj.12333

    Article  Google Scholar 

  41. Lee I, Shin YJ (2018) Fintech: ecosystem, business models, investment decisions, and challenges. Bus Horiz 61(1):35–46. https://doi.org/10.1016/j.bushor.2017.09.003

    Article  Google Scholar 

  42. Mackenzie A (2015) The fintech revolution. Lond Bus Sch Rev 26(3):50–53. https://doi.org/10.1111/2057-1615.12059

    Article  Google Scholar 

  43. Martinez APC (2007) The Theoretical Approach to International Cooperation in Education: Analysis of three International Cooperation Agencies: IMEXCI, Mexico; AECI, Spain and USAID, United States [El Enfoque Teorico de la Cooperacion Internacional en Educacion: Analisis de tres agencias de Cooperacion Internacional: IMEXCI, Mexico; AECI, Espana y USAID, Estados Unidos]. Retrieved 01/01/2022 from http://catarina.udlap.mx/u_dl_a/tales/documentos/lri/cid_m_ap/resumen.html

  44. Mckinsey and Company (2020) How US customers’ attitudes to Fintech are shifting during the pandemic. Retrieved 01/01/2022 from https://www.mckinsey.com/industries/financial-services/our-insights/how-us-customers-attitudes-to-fintech-are-shifting-during-the-pandemic

  45. Mention A-L (2019) The future of Fintech. Res Technol Manage 62(4):59–63. https://doi.org/10.1080/08956308.2019.1613123

  46. Morales-Ríos F, Alvarez-Risco A, Castillo-Benancio S, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S (2022) Material selection for circularity and footprints. In: Alvarez-Risco A, Muthu SS, Del-Aguila-Arcentales S (eds) Circular economy: impact on carbon and water footprint . Springer Singapore, pp 205–221. https://doi.org/10.1007/978-981-19-0549-0_10

  47. Oxford English Dictionary. (n.d.). Definition of fintech. Retrieved 01/01/2022 from OxfordLearnersDictionaries.com

    Google Scholar 

  48. Portafolio (2019) Fintech is not a fad, but the new norm [Las fintech no son moda, sino la nueva norma]. Retrieved 01/01/2022 from https://www.portafolio.co/economia/finanzas/las-fintech-no-son-moda-sino-la-nueva-norma-534557

  49. Porter M (1997) Competitive strategy, measuring business excellence

    Google Scholar 

  50. Pozzolo AF (2017) Fintech and banking. Friends or foes. European Economy–Banks, Regulation, and the Real Sector, Year, 3

    Google Scholar 

  51. Rupeika-Apoga R, Wendt S (2021) FinTech in Latvia: status quo, current developments, and challenges ahead. Risks 9(10). https://doi.org/10.3390/risks9100181

  52. Thakor AV (2020) Fintech and banking: What do we know? J Financ Intermediation 41:100833. https://doi.org/10.1016/j.jfi.2019.100833

    Article  Google Scholar 

  53. Tsai C-H, Peng K-J (2017) The FinTech revolution and financial regulation: the case of online supply-chain financing. Asian J Law Soc 4(1):109–132. https://doi.org/10.1017/als.2016.65

    Article  Google Scholar 

  54. Wójcik D (2020) Financial geography II: the impacts of FinTech—financial sector and centres, regulation and stability, inclusion and governance. Prog Hum Geogr 45(4):878–889. https://doi.org/10.1177/0309132520959825

    Article  Google Scholar 

  55. Xu Y, Bao H, Zhang W, Zhang S (2021) Which financial earmarking policy is more effective in promoting FinTech innovation and regulation? Ind Manage Data Syst 121(10):2181–2206. https://doi.org/10.1108/IMDS-11-2020-0656

    Article  Google Scholar 

  56. You C (2018) Recent development of FinTech regulation in china: a focus on the new regulatory regime for the P2P Lending (loan-based crowdfunding) market. Capital Markets Law J 13(1):85–115. https://doi.org/10.1093/cmlj/kmx039

    Article  Google Scholar 

  57. Zhou X, Chen S (2021) FinTech innovation regulation based on reputation theory with the participation of new media. Pac Basin Financ J 67:101565. https://doi.org/10.1016/j.pacfin.2021.101565

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Shyla Del-Aguila-Arcentales .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2023 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Calle-Nole, M., Alvarez-Risco, A., Contreras-Taica, A., de las Mercedes Anderson-Seminario, M., Del-Aguila-Arcentales, S. (2023). FinTech: An Innovative Green Entrepreneurship Model. In: Alvarez-Risco, A., Muthu, S.S., Del-Aguila-Arcentales, S. (eds) Footprint and Entrepreneurship. Environmental Footprints and Eco-design of Products and Processes. Springer, Singapore. https://doi.org/10.1007/978-981-19-8895-0_11

Download citation

Publish with us

Policies and ethics