Indonesian Fintech Business: New Innovations or Foster and Collaborate in Business Ecosystems?

Authors

  • Adrian Teja School of Business and Economics, Universitas Prasetiya Mulya, Indonesia

DOI:

https://doi.org/10.12695/ajtm.2017.10.1.2

Keywords:

Business Ecosystems, Business Ecosystem Leadership, Fintech, Network Approach, Collaboration

Abstract

Abstract. There are many innovative products fail to reach minimum critical mass adopter and cease to exist. New financial technology products are not an exception because the current financial technology to facilitate transactions, whether payment, investment, and insurance still function remarkably well. Since new financial technology products have features to better serve low to middle-level customers in the form of higher convenience level and lower costs than the current financial technology products, the initiatives to ensure their success is imperative. Thus, the purpose of this study is to present propositions based on a literature review to encourage companies to simultaneously have two competencies, first competencies in new product development and second, competencies to foster and collaborate with other companies in within and across business ecosystems. The implications of this paper are companies with higher competencies to foster and collaborate with other companies, even though they start with relatively basic innovative product, have higher probability to reach minimum critical mass of adopter and higher probability to become leader in their business ecosystem and government need to maintain their active role to foster collaboration within and across business ecosystem.  

Keywords: Business ecosystem, business ecosystems leader, collaboration, fintech (financial technology), new product development.

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Author Biography

Adrian Teja, School of Business and Economics, Universitas Prasetiya Mulya, Indonesia

Economic and Finance Department

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Submitted

2017-04-19

Accepted

2017-07-27

Published

2017-08-29

How to Cite

Teja, A. (2017). Indonesian Fintech Business: New Innovations or Foster and Collaborate in Business Ecosystems?. The Asian Journal of Technology Management (AJTM), 10(1), 10–18. https://doi.org/10.12695/ajtm.2017.10.1.2

Issue

Vol. 10 No. 1 (2017)

Section

Articles

License

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. Copyright @2017. This is an open-access article distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (http://creativecommons.org/licenses/by-nc-sa/4.0/) which permits unrestricted non-commercial used, distribution and reproduction in any medium