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An investigation of the low penetration rate of FinTech challengers in Belgium

Biver, François
(2021)

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BIVER_16621600_2021.pdf
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Details

Supervisors
Agrell, Per Joakim ; Olieslagers, Ruben
Faculty
Louvain School of Management
Degree label
Master [120] : ingénieur de gestion, à finalité spécialisée
Abstract
This research addresses the low adoption of FinTech services offered by companies which are not traditional banks, in Belgium. Those companies can be called the challengers of the financial services industry, and the penetration rate of those challengers is relatively low in the country. The theoretical part aims, thanks to various resources, at understanding the current Belgian FinTech ecosystem, the place and influence of challengers in this ecosystem, its main actors and drivers, and the resulting FinTech offering in the country. The practical part consists of the analysis of a consumer survey which aims at understanding the demand towards FinTech services and the current usage and perception of FinTech services offered by challengers in Belgium. It appears that the low penetration rate of challengers is mainly explained by a strong performance of traditional banks regarding FinTech, leading to a lack of awareness regarding FinTech challengers by the Belgian population, or to an absence of a felt need to use the services offered by those challengers.