GLOBAL FINANCING DISRUPTIVE INNOVATION: AN ANALYSIS OF FINANCING FINTECH SERVICES TO SMES AND LMES IN UAE AND GERMANY

Fintechs are newly founded technology-driven companies that provide financial services and products (Dorfleitner, Hornuf, Schmitt, & Weber, 2016). The terminology is a neologism that originates from finance and technology (Gomber, Koch, &Siering, 2017; Puschmann, 2017; Tiberius &Rasche, 2017). Currently, there is no universal academic definition of fintech (Dorfleitner et al., 2016). The Financial Stability Board defines fintech “as technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated material effect on the provision of financial services” (2017, p. 7). Schueffel analysed different databases in order to find a definition that contains the major commonalities in more than 200 academic studies (2016).