The emergence of a Fintech Ecosystem: A case study of the Vizag Fintech Valley in India

Fintech ecosystems (FE) are characterized by heterogeneous, non-linear, dynamic and complex network of agents that interact with each other to provide a wide array of financial products and services to end customers. With the rise of myriad complementary technologies, the complexity of Fintech ecosystems is increasing exponentially as new players are emerging and new connections are formed. Despite the widespread attention Fintech ecosystems have attracted from both academia and practice, rather little is known about how such an ecosystem emerge. Toward addressing this knowledge gap, this research paper draws on complex adaptive systems (CASs) theory to examine the emergence of a global self-sustaining ecosystem: The “Fintech Valley” in Vizag, India. In doing so, our findings offer insights into the dynamics of FE emergence that is transforming the financial landscape globally, and may be helpful to practitioners who are looking to effect organization-wide cultural change and the 'compliant by design' approach.