Date of Conferral

2022

Degree

Doctor of Business Administration (D.B.A.)

School

Business Administration

Advisor

Craig H. Martin

Abstract

New technologies continually disrupt the financial service sector by providing products and services faster than traditional financial service institutions. Financial service leaders are concerned with losing market share to disruptive technologies. Grounded in disruptive innovation theory, the purpose of this qualitative, single holistic case study was to explore the strategies some financial service leaders use to mitigate the loss of cash flow from disruptive technologies introduced by fintech companies. The participants were eight financial service leaders who helped develop competitive strategies to mitigate the loss of cash flow introduced by disruptive technologies. Data were collected using semistructured interviews and a review of archival records and other documentation. Through methodological triangulation and thematic analysis, three themes were identified: (a) senior leadership support as a strategy, (b) adapting technology from fintech companies, and (c) creating the company’s own technologies to mitigate the loss of cash flow. Key recommendations are for financial service leaders to (a) monitor market share and competitive position to be aware of significant changes, (b) comprehend how consumers are reacting as new products and services emerge, and (c) recognize how disruptions are affecting their business models and execute adjustments as necessary. The implications for positive social change include the potential to provide consumers choices for financial service products, opportunities to make better financial decisions, access to resources to improve their financial literacy, and knowledge and products to promote economic growth and stabilization within their communities.

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