| Journal of Economics and Management Volume 18, No. 2 September, 2022 |
| The Exploration of Technology-Service Fusion in Financial Innovation Development |
| Jian-Hang Wang |
| Executive Master of Business Administration, National Taichung University of Education, Taichung, Taiwan |
| Pei-Shan Hsieh |
| Department of Business Administration, Tunghai University, Taichung, Taiwan. |
| Abstract |
| The study intends to know the technological development of the financial service industry and proposes policy suggestions to guide innovation for industry development. We empirically test the financial service industry given by the Organization for Economic Cooperation and Development (OECD), the study investigates Taiwan’s listed and OTC financial service companies and analyzes their annual reports from 2014 to 2018 by the content analysis method to explore their innovative activities. The results show that, in the whole financial service industry, the most active innovative activities are product- technology innovation, technology-process innovation, and technology-organization innovation, indicating that the service-technology integration model as the coupling innovation of the financial industry is developing continuously. The study conclusions that the changes in the business model in the financial industry to enhance the increase of versatile talents and knowledge-intensive in finance and technology. By doing so, the technology industry and the financial industry will jointly create a new emerging financial market as blue oceans. More specifically, the study also reveals that new service as innovation will provide not only pure financial services but also technology-services by the innovation context in which Fintech is part of industrial routine. The study extends the insights that the government should formulate appropriate technology policies and regulations to create the co-benefits between the financial industry and the technology industry. |
| Keywords：Fintech, Financial Service, Technology-Service Fusion, Innovation |
| JEL Classifications：O30, O32. |
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