Financial Technology and Strategic Alliances: A Business Model Research

• Main Authors: Chuang, Pi-Mei, 莊碧玫
• Other Authors: Lin, Ying-Shing
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/zhj585

碩士 === 國立高雄科技大學 === 會計資訊系 === 107 === Financial Technology and Strategic Alliances: A Business Model Research Student：Chuang, Pi-Mei Advisor：Lin, Ying-Shing Department of Accounting Information Systems National Kaohsiung University of Science and Technology ABSTRACT The financial environment in Taiwan has entered into using advanced technologies and business models to integrate partner resources to achieve scale economy to survive market competition. Cruel Darwinian market tests ruthlessly eliminated those banking firms lacking necessary financial technology to create multiple competitive advantages. Finance and insurance business are saying goodbye to traditional way of business practices—relying only on huge asset loans to earn interest spreads. Under current competitive environment, financial and insurance industry sparks a new thinking to use financial technology with innovative business models to integrate financial products and services to give customers more diverse and added value in a more efficient manner. Although successful uses of financial technology can create unlimited business opportunities and interests, how to use innovative business models and strategic alliances to further create competitive advantages is a more important issue and the main purpose of this study. This study finds that financial and insurance industries using financial technologies and strategic alliances with innovative business models is significant in statistical tests. Similar significant factors are the importance of regulating contract, selecting partners with past performance and reputations as well as alliance's structures and commitment in sharing information. The innovation and contribution of this technical report is the new thinking and research approach to break away from old stereotypes--focusing on financial technology only. Successful finance and insurance business models should integrate technology with products and services. The impact of this research flips traditional axis of thinking to explore new emergence of financial and insurance business models. In additions, this research uses questionnaire to collect data and statistical test to obtain results in a pragmatic way, supported by expert interviews to draw logical conclusions. Firstly, this study emphasizes the fact that financial technology is not the key to success, nor its scientific breakthroughs or updates. New business model thinking, overthrowing traditional, conservative business inertia to consolidate and synthesize ever-changing unassociated individual technology is key to provide people with comprehensive benefits based on competitive scale economy. Secondly, this study emphasizes the integration of research, advocating strategic alliances approach to add and integrate a variety of different financial technologies into a giant App with comprehensive, multi-faceted functions and interfaces, providing users with huge operating convenience. The economies of scale, competitive advantage, and compound synergy are the key to success in using financial technology. Looking forward to the future direction of financial technology development, the basic principle remains in the use of strategic alliance business model to continually integrate single stand-alone financial technology and interface into comprehensive new financial business services, with innovation and scale economy to erect market entry barriers to deter new competitors by widening market competitive gaps for followers. It is obvious that the use of financial technology thrives on economic scale to become a giant, all-inclusive business with exclusive competitive advantage. As Taiwan's conservative financial regulations, small size, fierce competition and uncertain market payback period, constitute obstacles to development, Taiwan's financial industries are reluctant to invest in research and development. Taiwan authority should work closely with industry and academia to focus on the principle of scale economy and strategic alliances of financial technology and to conduct active research on financial and insurance services. In face of the challenge of FinTech trends, Taiwan needs fast solutions to adapt to future technology changes in order to survive threatening new financial technology business models. Keywords: financial technology (FINTECH), business model, strategic alliance, finance and insurance