Chapter 26: A Call For More Case Studies On Fintech Innovation

Across industries, and especially in the financial services sector, CEOs of established companies need to cope with disruption. In the financial services sector, non-traditional players will easily generate up to 40% of revenues within the next 10 years. The fundamental sources of value creation and competitive advantage are shifting. This disruption categorizes companies into three groups: Those that make things happen, those that watch things happen, and those that wondered what happened!

In order to keep track of changes and update ‘mental software,’ business schools and the executive learning community need to rely on the latest case studies. They are a unique tools for our business environments in flux. A case might well be made against the normal long time that it takes to develop new management models for the fast-paced FinTech world. If we were still living in simple times, the role of guidelines and checklists to ensure success in the financial services sector would still be essential. This would be like having a successful recipe for simple tasks, such as baking a cake. No real experts or expertise would be required. Even more, the repeatability of success would be ensured. Alas, we no longer live in simple times! Our approaches to sustainable success need to be different in a complicated world. Missions, such as putting a man on the moon, require detailed checklists and a disciplined organizational culture. Experts are needed to effectively execute plans and to monitor then closely. But even then, success is not always guaranteed.