Triangulated Analytical Framework for Sustainable FinTech Model: The Case of Latvia
Discuss this preprint
Start a discussion What are Sciety discussions?Listed in
This article is not in any list yet, why not save it to one of your lists.Abstract
This empirical study examines how FinTech innovation is adopted, scaled, and sustained in a small and highly regulated market, such as Latvia. The triangulated analytical framework is applied in this study, integrating Rogers’ Innovation Diffusion Theory IDT [1], De Meyer’s Innovation Ecosystem framework [2], and the Value Chain Theory [3], [4]. This framework enables the exploration of the interaction between innovation characteristics, ecosystem relationships, and restructuring in the value chain. The data was collected from FinTech leaders, conventional financial institutions (banks), regulators, and associations, and it was analysed thematically. Based on the interviews with stakeholders, the relative advantage of Latvian FinTechs lies in their flexibility, speed, and trialability; however, the adoption barrier is the complexity of regulation and unevenness in infrastructure and institutional readiness. The authors found strong collaboration among the ecosystem's players but limited proactive regulatory engagement. This research provides a replicable model for cross-border or cross-sector analysis to assess the progress of innovation in regulatory and Environmental, Social and Governance ESG integration.