The Rise and Development of FinTech Accounts of Disruption from Sweden and Beyond

This comprehensive guide serves to illuminate the rise and development of FinTech in Sweden, with the Internet as the key underlying driver. The multiple case studies examine topics such as: the adoption of online banking in Sweden; the identification and classification of different FinTech categories; process innovation developments within the traditional banking industry; and the Venture Capital (VC) landscape in Sweden, as shown through interviews with VC representatives, mainly from Sweden but also from the US and Germany, as well as offering insight into the companies that are currently operating in the FinTech arena in Sweden. The authors address questions such as: How will the regulatory landscape shape the future of FinTech companies? What are the factors that will likely drive the adoption of FinTech services in the future? What is the future role of banks in the context of FinTech and digitalization? What are the policies and government initiatives that aim to support the FinTech ecosystem in Sweden? Complex concepts and ideas are rendered in an easily digestible yet thought-provoking way. The book was initiated by the IIS (the Internet Foundation in Sweden), an independent organization promoting the positive development of the Internet in the country. It is also responsible for the Internet’s Swedish top-level domain .se, including the registration of domain names, and the administration and technical maintenance of the national domain name registry. The book illustrates how Sweden acts (or does not act) as a competitive player in the global FinTech arena, and is a vital addition to students and practitioners in the field.

Foreword: Foreword - By Claudia Olsson; Introduction: Introduction - By Robin Teigland, Shahryar Siri, Anthony Larsson, Alejandro Moreno Puertas & Claire Ingram Bogusz; Chapter 1: A Regulatory Innovation Framework: How Regulatory Change Leads to Innovation Outcomes for FinTechs - By A°ke Freij; Chapter 2: Information Security in the Realm Of Fintech by Georgios Kryparos; Chapter 3: FinTech in Sweden – will policy makers’ (in)action nurture or starve its growth? - By Bjo¨rn Olsson & Mattias Hallberg; Chapter 4: The Future of Cash - By Niklas Arvidsson; Chapter 5: The Adoption of Online Banking in Sweden - By Michael Björn; Chapter 6: The Role of Trust in Emerging Technologies - By Mats Lewan; Chapter 7: Responding to the Fintech Challenge: A Study of Swedish Bank Managers’ Perception of Fintech’s Effects On Digitalization And Customer E-Loyalty - By Anthony Larsson; Chapter 8: The Three Phases of Fintech - By Anna Felländer, Shahryar Siri & Robin Teigland; Chapter 9: Clarifying the Blurry Lines of FinTech: Opening the Pandora’s Box of Fintech Categorization - By Michal Gromek; Chapter 10: The Internet as an Enabler of FinTech - By Mats Lewan; Chapter 11: Digital Traces, Ethics and Insight: Data-Driven Services in Fintech - By Claire Ingram Bogusz; Chapter 12: Digital Meetings: Real Growth - Better Funding? An Introduction to Swedish Crowdfunding - By Michal Gromek & Alexandre Dubois; Chapter 13: Payments in Sweden - By Niklas Arvidsson; Chapter 14: An Introduction to Robo-Advisory - By Agne Macijauskaite; Chapter 15: Blockchain: The Internet of Value - By Alejandro Moreno Puertas & Robin Teigland; Chapter 16: How to Scale Bitcoin: A Payment Network That No One Controls - By Håkan Holmberg; Chapter 17: Banks and Digitalization - By Jochem Van Der Zande; Chapter 18: The Role of Venture Capital for the Success of the Swedish Fintech Industry - By Elizabeth Press; Chapter 19: How Does Distance Come Into Play in Equity Crowdfunding? - By Alexandre Dubois & Michal Gromek; Chapter 20: The Stockholm FinTech Hub - By Catharina Burenstam Linder; Chapter 21: Geographic Decentralization of Fintech Companies in Sweden - By Katarzyna Jereczek; Chapter 22: When Britain Leaves the EU, Will FinTechs Turn to the Vikings? - By Timotheos Mavropoulos & Michal Gromek; Conclusion: Conclusion - By Robin Teigland, Shahryar Siri, Anthony Larsson, Alejandro Moreno Puertas & Claire Ingram Bogusz

Robin Teigland is Professor of Business Administration with a specialization in Strategic Information Systems Management and Co-director of the Center for Strategy and Competitiveness at the Stockholm School of Economics (SSE), Sweden. Shahryar Siri is a Researcher and Project Manager at the Stockholm School of Economics Institute for Research (SIR), Sweden, where he is responsible for the three-year research project "The Innovative Internet" in collaboration with the Internet Foundation in Sweden (IIS). Prior to his role at SIR, he worked as a Consumer Insights Researcher at Ericsson and on a freelance basis. Anthony Larsson is a Doctoral Candidate of Medical Science at Karolinska Institutet (KI), Sweden, and a Researcher at the Stockholm School of Economics Institute of Research (SIR), Sweden. He holds a MSc in Business & Economics, an MBA in Business, a MSc in Political Science, a MSc in Anthropology and an A.S. in Psychology. His research interests include management, organization studies, entrepreneurship, innovation studies, customer loyalty, digitalization, branding, stakeholder analysis, political science, anthropology, and qualitative research methods. Alejandro Moreno Puertas is a MSc finance student at the Stockholm School of Economics (SSE), Sweden. He has previously worked in Shanghai as a representative of Sociedad Española de Negocios en Asia y America SL for their Chinese business development. He graduated from Tilburg University with a BSc in economics. Claire Ingram Bogusz is a Researcher at the Stockholm School of Economics (SSE), Sweden. Her research interests are in how code-based technologies affect entrepreneurship and organizational change. Her PhD thesis examined FinTech entrepreneurship reliant on peer-to-peer technologies.