Antecedents to successful implementation of FinTech innovations in a South African bank

Abstract

The purpose of this study was to investigate the antecedents that facilitate the successful implementation of finance technology innovations. The research setting was delimited to innovations that need to be implemented within the context of a Johannesburg-based South African bank. The study was grounded on a model for a sustained corporate entrepreneurial strategy. This was a qualitative methodology study employing the interpretivism paradigm philosophy, and an inductive process for exploratory research purposes. Data were collected through face-to-face semi-structured in-depth interviews and thematic analysis was followed to derive insights. The findings indicate technology as an external and internal environment foundational condition. Furthermore, working on the advancement of technology is a fulfilling reward. On the other hand, unmanaged unhealthy internal competition is likely to derail the innovation implementation. A sample profile within a South African bank may present limitations for the generalisability of the findings. The practical implications for managers are that they should allocate resources to the advancement of technology to attain an entrepreneurial strategy while minimising unhealthy internal competition. The research contributes to the body of knowledge with the proposition to extend the model for sustaining a corporate entrepreneurial strategy. The proposal includes recognising technology as both external and internal transformational triggers. Secondly, technology is also an organisational antecedent.