Fintech Companies and Sustainable Development Goals (SDGs) - A Multiple-case Study

Abstract

FinTech was recognized by the United Nations in 2015 as one of the important innovations that could facilitate the achievement of sustainable development goals (SDGs) (Pizzi et al., 2021). The review of extant literature provides evidence that the concept of FinTech is evolving all around the globe, but research regarding the role and involvement of FinTech companies in achieving the SDGs is limited, in incipient stage. To fill a major literature gap, our research study employs an inductive qualitative multiple-case study framework to uncover the contribution of FinTech companies in achieving the SDGs. The findings are twofold and highlight some significant implications for both theory and practice. First, by investigating the business models’core elements of selected FinTech companies, we identify direct or/and indirect contributions to various SDGs and, based on the analysis, we derived eight statements. Second, we highlight the emergence of a new FinTech business model - Impact FinTech, that primarily focuses on creating social or/and environmental impact in developed as well as developing countries, which ultimately supports SDGs’ achievement.