Rosita Zvirgzdina, Helena Skadina, Iveta Linina


The variety of financial technology (FinTech) companies and their activities poses heterogeneity in the business models of them. Not only the business environment has been changing rapidly, the financial services sector influences and triggers changes as well. And it is hard to determine whether and which changes influence the business model disruptively and which evolutionary. To enable management decision making easier, methodology for identification of possible microeconomic risks and their influence on the current activity and the whole business model of the company has to be shaped accordingly. The aim of this research is to find out what and how microeconomic factors affect business modelling of the FinTech companies. In this research the authors used a continuous comparative analysis method as well as content analysis method [1]. In interviews, experts were asked to assess the significance of specific microeconomic factors by using the Likert's scale. As a result of the research, the difference of the influence as well as their dependencies and modifications on business modelling was determined. This result forms the basis for conclusions about the most important microeconomic impact factors, the areas of their influence and possible consequences that affect business modelling of the FinTech company.


business model; impact factor; microeconomic; FinTech

Full Text:



K. Martinsone, A. Pipere, D. Kamerade, “Petniecība. Teorija un prakse”: Research. Theory and praxis, Riga, 2016, pp. 375.

Statista, Value of global investment in Financial Technology ventures in 2013 and 2018 (in billion U.S. dollars) [Online]. Available: [Accessed Februar 18, 2019].

The future of FinTech and banking: Digitally disrupted or reimagined? New research reveals three key themes for banks wanting to disrupt their own business model and reimagine themselves digitally, [Online]. Available: [Accessed Februar 12, 2019]

A. Jablonski, “Business Models : Strategies, Impacts and Challenges”. Hauppauge, New York: Nova Science Publishers, Inc., 2017, pp. 3-17.

G. Quattrone, S. Nicolazzo, A. Nocera, D. Quercia, L. Capra. “Is the Sharing Economy about Sharing at All?” A Linguistic Analysis of Airbnb Reviews. Middlesex University, London. University Mediterranea of Reggio Calabria, Italy. Nokia Bell Labs Cambridge. University College, London. Proceedings of the Twelfth International AAAI Conference on Web and Social Media, ICWSM 2018, pp.1-3

Beyond fintech: “Eight forces that are shifting the competitive landscape. Impact Fintech or Fintech Impact?” [Online]. Available:, 2018 [Accessed Februar 12, 2019]

S. Škapa, “Solving microeconomic model using methods of functional analysis”. Economic Computation and Economic Cybernetics Studies and Research. Vol. 52 DOI: 10.24818/18423264/ Brno University of Technology. 2018, pp. 41-43.

V. Enev, W-C Liao, “Business Model Innovation and Factors influencing. Business Model Innovation”. School of Economics and Management, Department of Business Administration, Master Corporate Entrepreneurship and Innovation. Internship and degree project (Master thesis 15 ECTS). 2014, pp. 4-8.

K. Berlinskii, “Problems, trends, and growth points in FinTech”. [Online]. Available: 2018 [Accessed Februar 19, 2019].

D. Mitchell, C. Coles, “The Ultimate Competitive Advantage of Continuing Business Model Innovation”. 2003, pp. 16– 26.

D. R. A. Schallmo, “Geschaftsmodelle erfolgreich entwickeln und implementieren” (Successful Development and Implementation of Business Modells). Kindle Edition. 2003, pp. 1142-1557.

O. Gassmann, K. Frankenberger, M. Csik, “Geschaftsmodelle entwickeln 55 innovative Konzepte mit dem St. Galler Business Model Navigator” (Developing of Business Models 55 innovative approaches with St. Galler Business Model Navigator). Munchen: Hanser Verlag, 2013, pp. 4.-213.

K. Matzler, “Digital Disruption: Wie Sie Ihr Unternehmen auf das digitale Zeitalter vorbereiten” (How to prepare Your enterprise for digital age). Kindle Edition. 2016, pp. 964-972.

V. Tiberius, Ch. Rasche, Ch. “FinTechs: Disruptive Geschaftsmodelle im Finanzsektor” (Dusruptive Business Models in Fintech industry). Springer Gabler, 2011 pp. 341.

K.Jhoon, “User’s Acceptance of Mobile Fintech Service: Immersion of Mobile Devices’ Moderating Effect”, in: The e-Business Studies 6 (16), 2015, pp. 359– 381.

F. Buytendijk, T. Hatch, P. Micheli, “Scenario-based strategy maps”. Business Horizons. 2010, pp.338.

D. Roam, “Narysuj swoje mysl”. Wydawnictwo Helion, Gliwice. 2010, pp.28-29

B. Witz, “Business Model Management, Gabler Verlag. 2010, pp. 70-73.

Song, K.-S. (2015). Investigation of Business Model on Fintech Payment System, in: The e-business Studies 16 (6), pp. 65– 94.



  • There are currently no refbacks.

SCImago Journal & Country Rank