For an AI-focused Fintech the approach to trust and privacy must be decided at the business model level

Abstract

Purpose This research validates that professionals across six artificial intelligence (AI)-focused Fintech business models endorse the inclusion of trust-building and addressing privacy concerns at the business model level. Trust-building and reducing privacy concerns should be one of the building blocks of a modern business model. Design/methodology/approach This research applied a mixed-method approach, analysing 12 interviews with Fintech managers and a survey of 1,452 Fintech professionals in management or other senior technology positions such as systems architects. Findings The analysis verified that the trust-building methods and the methods to reduce privacy concerns should be decided at the business model level. Originality/value Trust-building and reducing privacy concerns are added to the nine existing building blocks of the popular Business Model Canvas. The updated Business Model Canvas with 10 building blocks captures more accurately the six AI-focused Fintech business modes identified.