In recent years, new technologies have led to disruption and change within most industries, resulting in the emergence of digitally-born start-ups. The purpose of this thesis is to complement the scarce theory about what the drivers of business model adaptation in start-ups consist of and how the adaptation process is managed to stay competitive. The findings not only provide theoretical contributions, but can also help managers to steer their start-upsthrough the growth phase.The research is set within the realms of business model theory in the strategic management field. An exploratory study with a qualitative, inductive approach was chosen to gain insights into the business model dynamics of nine firms from the fintech and healthtech industries.The results showed that foreign market adaptation, industry dynamics, funding, and legislation are perceived challenges, whereas legislation and exogenous shocks are opportunities that drive business model adaptation in start-ups. The business model elements of strategic decision-making, resources and capabilities, and network and partners were found to be integral to the adaptation process, as their core components not only need to be adapted to the environment but also aligned with each other. Those components should be revised in an iterative trial-and-error process driven by feedback.

Esta investigación presenta las diversas perspectivas que se han establecido en la academia respecto al financiamiento de las mype, considerando la importancia de las decisiones financieras, basadas en variables como al género, la edad-tamaño y las condiciones del crédito. Se identifican los factores que tienen mayor influencia para el acceso al crédito, como son los actores sociales, quienes vinculan la acción social y ambiental para lograr la sostenibilidad; el ciclo de vida de la empresa, que permite la identificación de actividades estratégicas para solicitar el financiamiento idóneo; el capital, que refleja el valor actual de la empresa para impulsar la inversión y la tecnología que es cada vez más innovadora en el mercado global. Todas ellas no solo logran el crecimiento de las unidades de negocio si no que también contribuyen con el desarrollo del país. El financiamiento de las mype y su adaptación a las circunstancias es distinto para cada empresario; por ello, se clasifica en financiamiento formal, que contribuye al cumplimiento de las normatividad y acceso a oportunidades de exportación; financiamiento informal, que no requiere de procesos burocráticos y la disponibilidad del dinero es inmediata; además del crédito comercial, que no solo es flexible y práctico, sino que también tiene validez legal. Asimismo, se destaca el posicionamiento de las Fintech como una nueva forma digital de obtener financiamiento con beneficios atractivos para aquellos que no califican al crédito tradicional. / This research explains the various perspectives that have been established in academia regarding the financing of SMEs, considering the importance of financial decisions, based on variables such as gender, age-size and credit conditions. The factors that have the greatest influence on access to credit are identified, such as social actors, who link social and environmental action to achieve sustainability; the life cycle of the company, which allows the identification of strategic activities to request the appropriate financing; capital, which reflects the current value of the company to boost investment and technology, which is increasingly innovative in the global market. All of them not only achieve the growth of the business units but also contribute to the development of the country. The financing of mype and its adaptation to the circumstances is different for each entrepreneur; therefore, it is classified into formal financing, which contributes to compliance with regulations and access to export opportunities; informal financing, which does not require bureaucratic processes and the availability of money is immediate; and commercial credit, which is not only flexible and practical, but also has legal validity. It also highlights the positioning of Fintechs as a new digital way of obtaining financing with attractive benefits for those who do not qualify for traditional credit. / Trabajo de Suficiencia Profesional

El presente trabajo de investigación tiene como finalidad desarrollar el Plan de Negocio de una plataforma electrónica de información y elección de ofertantes de factoring para las MIPYME interesadas en financiamiento de ventas mediante oferta de facturas negociables. Esta propuesta se dirige a empresarios de diferentes rubros y cuyos niveles de facturación caracterizan a sus empresas como micro, pequeñas y medianas, especialmente para aquellos que valoran mucho contar con la liquidez de fondos necesarios para financiar sus operaciones al menor costo posible. Para ello se realizó un sondeo el cuál permitió validar nuestra propuesta explicada en este documento, destacando que el 67,3% manifiesta estar muy dispuesto a usar la plataforma “Elige – Factoring”. Para implementar este modelo de negocio se requerirá de una inversión de S/ 105 000 distribuidos en desarrollo de plataforma web, adquisición de bienes de cómputo, campañas de difusión y otros gastos pre-operativos, así como capital de trabajo requerido para financiar las actividades del primer año de operación. Se usará redes sociales y se generará contenido de calidad para desarrollar una estrecha y contínua relación con los clientes. La estrategia del presente plan se basará en la diferenciación y la focalización. Esta solución será la finetch referente de provisión de información de Factoring y de negociación de tasas de descuento de Facturas Negociables en el Perú. A partir del análisis financiero realizado, concluimos que el proyecto tendrá un VAN de de S/133 321,46 y una TIR de 36,7%, luego de 5 años de operaciones, haciéndolo atractivo para invertir. / The purpose of this research work is to develop the Business Plan of an electronic platform of information and choice of factoring bidders for MSME interested in financing sales by offering their negotiable invoices. This proposal is aimed at businessman of different sectors and whose billing levels characterize their companies as micro, small and medium-sized, especially for those who highly value having the liquidity of funds necessary to finance their operations at the lowest possible cost. For this, a poll was carried out which allowed us to validate our proposal explained in this document, highlighting that 67.3% state that they are very willing to use the platform "Elige - Factoring". To implement this business model, its will need an investment of S/ 105 000 distributed in web platform development, acquisition of computer assets, dissemination campaigns and other pre-operational expenses, as well as the working capital required to finance the activities of the first year of operation. Social networks will be used and quality content will be generated to develop a close and continuous relationship with customers. The strategy of this plan will be based on differentiation and targeting. This solution will be the benchmark finetch for the provision of Factoring information and the negotiation of discount rates of Negotiable Invoices in Peru. From the financial analysis carried out, we conclude that the project will have a NPV of S / 133 321,46 and an IRR of 36,7%, after 5 years of operations, making it attractive to invest. / Trabajo de investigación

Esta investigación muestra la factibilidad para la implementación de una Fintech de inclusión financiera denominada Sika Finance. Plataforma tecnológica que permite acceder a una evaluación para otorgar créditos 100% en línea a un público exclusivamente femenino, con el objetivo de crear y facilitar oportunidades de empoderamiento a las mujeres de nuestro país. Es preciso mencionar que la industria en el Perú se encuentra en proceso de crecimiento y aún no se encuentra regulada. El análisis del entorno de la industria indica que es un mercado atractivo y en crecimiento, prueba de ello es que durante el 2020 “el 18% de los USD46 millones colocados en Venture Capitals fueron destinados a la industria de las FinTechs, solo por debajo de EdTech (40%) y comercio electrónico (27%), ambos fundamentales en el contexto del COVID-19”. (Ministerio de Relaciones Exteriores, 2021) El estudio de mercado muestra que la FinTech se encuentra en gran proyección de desarrollo acelerado. Asimismo, de las encuestas realizadas se obtiene que el 71.54% de mujeres de nuestro público objetivo tiene una habilidad innata del lenguaje y del entorno digital, el avance tecnológico ha provocado que en todos los segmentos de la población adopten la tecnología y accedan al uso de aplicaciones y dispositivos TIC. Por tanto, la presente propuesta se alinea a sus necesidades. Por otro lado, se observa que la preferencia de créditos oscila en importes de S/ 500.00 a S/ 2,000.00 con plazos menor a 12 meses por lo que representa una oportunidad relevante de negocio. / This research shows the feasibility for the implementation of a Fintech Sika Finance for financial inclusion. A technological platform that allows access to an evaluation to grant credits 100% online to an exclusively female audience, intending to create and facilitate empowerment opportunities for women in our country. It is worth mentioning that the industry in Peru is in the process of growth and is not yet regulated. The analysis of the industry environment indicates that it is an attractive and growing market, proof of this is that during 2020 “18% of the USD46 million placed in Venture Capitals went to the FinTech industry, only below EdTech (40%) and electronic commerce (27%), both fundamental in the context of COVID-19 ” (Ministry of Foreign Affairs, 2021). The market study shows that FinTech is in great projection of accelerated development. Likewise, from the surveys carried out, it is obtained that 71.54% of women in our target audience have an innate capacity for language and the digital environment. Technological advances have caused all segments of the population to adopt technology and access the use of ICT applications and devices. Therefore, this proposal is aligned with your needs. On the other hand, it is observed that the preference for loans ranges between S / 500.00 and S / 2,000.00 with terms of less than 12 months, which represents a relevant business opportunity. / Tesis

Introduktion Digitaliseringen har lett till att flera nya aktörer trätt in på finansmarknaden och kundbehov har ändrats. Bankerna har därför behövt genomgå förändringar för att klara sig på marknaden. Detta har de gjort genom att bland annat ha ingått samarbeten med fintechbolag. Aktörerna skiljer sig markant från varandra vilket gör att de har mycket att lära från varandra. Denna studie handlar om det ömsesidiga lärandet i ett samarbete mellan fintechbolag och banker i Sverige. I studier framgår att 7 av 10 banker ser fintechbolag som det största hotet i branschen medan 8 av 10 banker ser fintechbolag som samarbetspartners vilket visar på att en relation som bildas mellan dessa aktörer kallas för coopetition. Cooperation och competition. Syfte Denna studie ämnar bidra med förståelse för det interorganisatoriska lärandet i en coopetitionrelation mellan banker och fintechbolag genom att kartlägga hur aktörers absorberande inlärningskapacitet leder till lärande. Frågeställningarna i studien är: Vilka yttre villkor påverkar den absorberade inlärningskapaciteten hos fintechbolag respektive banker? Hur påverkar nivån på coopetition samt graden av beroende mellan banker och fintechbolag sambandet mellan absorberande inlärningskapacitet och det interorganisatoriska lärandet? Hur ser det interorganisatoriska lärandet ut mellan banker och fintechbolag vid coopetition? Vad lär sig de olika aktörerna från dessa typer av samarbeten? Metod Denna studie är en komparativ flerfallstudie genomförd med hjälp av en kvalitativ metod. Vidare har studien ett fenomenologiskt perspektiv med en abduktiv ansats. Det empiriska materialet har samlats in via åtta semistrukturerade intervjuer med tre respondenter från storbanker och fem respondenter från fintechbolag i Sverige. Slutsats I studien har det framkommit att fintechbolagens yttre villkor är att de är unga och små bolag med begränsade tidigare erfarenheter och att bankernas yttre villkor är att de är stora och gamla företag med tidigare erfarenheter av samarbeten med fintechbolag. I studien framkommer det även att både banker och fintechbolag ser relationen som de har med respektive part som samarbetsdominerad. Från empirin har vi kunnat urskilja att det finns ett visst asymmetriskt beroende mellan banker och fintechbolag i deras samarbeten då bankerna har mer att säga till om. Ytterligare en slutsats är att lärandet mellan banker och fintechbolag går till så att de delar och skapar kunskap tillsammans genom kontinuerliga möten och workshops med målet att gemensamt uppnå innovation. Informell informationsdelning är även det något som sker konstant mellan företagen som leder till lärande åt båda håll. I nuvarande samarbeten lär sig fintechbolag hur det faktiskt är att verka som stora bolag genom lärdomar kring rutiner, avtalsprocesser och hantering av kundrelationer. I studien framkommer att bankerna lär sig från fintechbolagen hur de som organisation ska arbeta för att bli mer agila och digitala i sin verksamhet. / Introduction Due to digitization several new players have entered the financial market and customer needs have changed. Banks have therefore had to undergo a change in order to succeed in the market. They have done this by, among other things, entering into partnerships with fintech companies. These players differ markedly from each other which means that they have much to learn from one another. This study aims to help understand interorganizational learning in collaborations between fintech companies and banks in Sweden. Studies show that 7 out of 10 banks see fintech companies as the biggest threat in the industry, while 8 out of 10 banks see fintech companies as partners, indicating that a relationship between these players is called coopetition. Cooperation and competition. Purpose This study aims to help understand interorganizational learning in a coopetition relationship between banks and fintech companies by mapping out how actors' absorptive learning capacity leads to interorganizational learning. Research questions: What peripheral conditions affect the absorptive learning capacity of fintech companies and banks? How does the level of coopetition and the degree of dependence between banks and fintech companies affect the relationship between absorbing learning capacity and interorganizational learning? What does interorganizational learning look like between banks and fintech companies in coopetition? What do the different actors learn from these types of collaborations? Method This study is a comparative multi-case study conducted using a qualitative method. Further the study has a phenomenological perspective with an abductive approach. The empirical material was collected through eight semi-structured interviews with three respondents from major banks and five respondents from fintech companies in Sweden. Conclusion The study found that the peripheral conditions of the fintech companies are that they are young and small companies with limited past experience and the banks' peripheral conditions are that they are large and old companies with previous experience of working with fintech companies. The study also reveals that both banks and fintech companies consider the relationship they have with each other as cooperation-dominant. There is a certain asymmetric dependence between banks and fintech companies in their collaborations as the banks have more impact. Another conclusion is that banks and fintech companies share and create knowledge together through continuous meetings and workshops with the aim of jointly achieving innovation. Informal information sharing is also something that constantly occurs between the companies that leads to learning in both directions. In current collaborations, fintech companies are learning what it is like to operate as a large company through learnings about routines, contract processes and customer relationship management. The study shows that the banks learn how they as an organization should work to become more agile and digital in their operations.

A lo largo del tiempo, las finanzas siempre se han caracterizado por sostenerse en la tecnología. En los últimos años, luego de la crisis financiera del 2008, en 2014 se hizo visible la aparición de nuevas tecnologías en los mercados que han permitido el desarrollo de startups Fintech de manera acelerada, especialmente en países desarrollados de Europa, América del Norte y Asia. Las startups Fintech son emprendimientos disruptivos cuyos servicios están basados en herramientas tecnológicas que permiten transformar a las personas en usuarios netamente digitales. En el Perú, la aparición de startups Fintech tiene algunos años en el mercado, pero se ha visto una mayor fuerza en el crecimiento de esta industria debido a la participación de entidades del sector público y privado dentro del ecosistema emprendedor, y dentro de la región, el bloque regional que ha logrado fomentar avances en la regulación de esta industria es la Alianza del Pacífico. Dentro de este contexto, la presente investigación tiene como objetivo principal determinar si la firma del Protocolo Adicional al Acuerdo Marco de la Alianza del Pacífico y el ecosistema emprendedor peruano han sido factores que han influido en la exportación de startups Fintech peruanas durante el período 2014-2019. Para tal fin, en la investigación se aplicaron técnicas cualitativas basadas en entrevistas a emprendedores, expertos y funcionarios públicos relacionados a la industria Fintech. De esta manera, con el resultado del análisis se concluyó que los factores mencionados no fueron determinantes para la exportación de las startups Fintech peruanas. En contraste, se identificó que las capacidades del emprendedor peruano junto a una efectiva red de contactos y con un modelo de negocio innovador y disruptivo, permitieron que startups Fintech peruanas logren internacionalizarse rápidamente en países de la región durante el periodo de tiempo delimitado. Finalmente, cabe resaltar que, a la fecha, este tipo de emprendimientos enfocados en ofrecer servicios financieros disruptivos aún mantiene un bajo porcentaje de participación en la oferta exportadora de servicios. / Throughout time, finance has always been characterized by its reliance on technology. In recent years, after the financial crisis in 2008, in 2014 the emergence of new technologies became visible in the markets that have allowed the development of Fintech startups in an accelerated manner, especially in developed countries in Europe, North America and Asia. Fintech startups are disruptive ventures whose services are based on technological tools that allow people to become purely digital users. In Peru, the appearance of Fintech startups has been in the financial market for some years, but a greater force has been seen in the growth of this industry due to the participation of public and private sector entities within the entrepreneurial ecosystem. Within the region, the regional block that has managed to promote advances in the regulation of this industry is the Pacific Alliance. It is within this context that this research aims to determine whether the signing of the Additional Protocol to the Framework Agreement of the Pacific Alliance and the Peruvian entrepreneurial ecosystem have been factors that have influenced the export of Peruvian Fintech startups during the period 2014-2019. Therefore, in the investigation, qualitative techniques were applied based on interviews with entrepreneurs, experts and public officials related to the Fintech industry. Thus, with the result of the analysis it was concluded that the above factors were not determinant for the export of the Peruvian Fintech startups. In contrast, it was identified that the capabilities of the Peruvian entrepreneur, along with an effective network of contacts and an innovative and disruptive business model, allowed Peruvian Fintech startups to achieve rapid internationalization in countries of the region during the period defined. Finally, it should be noted that so far, this type of venture focused on offering disruptive financial services still maintains a low percentage of participation in the export supply of services. / Tesis

För många framgångsrika service- och tjänstebolag är Customer RelationshipManagement, eller CRM-system, ett fundamentalt och nödvändigt verktyg som företag brukar för att möjliggöra en förhöjd kundupplevelse och kundnöjdhet för företagetskunder. På senare år har artificiell intelligens genom sin utveckling sett en ökning av potentiella användningsområden och sedermera introducerats inom diverse branscher tack vare dess effektivisering av dessa användningsområden. Men alla branscher har intesett samma implementeringsgrad av olika anledningar. Dels beroende på operationella skillnader, men också på grund av hur kunder ser på användningen av artificiell intelligens som i sin tur påverkat företagens implementering av artificiell intelligens i sina kundrelaterade processer. Med artificiella intelligensens intåg inom den svenska försäkringsbranschen i kombination med de tidigare utförda studier som påpekar problematiken med singulärt fokus på tekniken inom CRM är syftet att undersöka hur svenska försäkringsbolagstrategiskt arbetar med implementering av artificiell intelligens och CRM. Vi har även som förhoppning att skapa en bredare förståelse kring möjligheter och eventuell problematik med artificiell intelligens, CRM och vilka olika mätinstrument som användsför att se om det är en lönsam investering. Baserat på problemdiskussionen kom vi fram till följande frågeställning: Hur arbetar försäkringsbolag i Sverige idag med CRM-system och artificiell intelligensför att skapa kundlojalitet? Den teoretiska referensramen utgörs av sex huvudsakliga teman; Business to Customer,Customer Relationship Management, Artificiell Intelligens, CRM som strategi, Lojalitet och Mätning. Dessa teman sammanfattas sedan med hjälp av en egen syntes inspirerad av Rust & Chungs (2006, s. 562) artikel “Marketing Models of Service and Relationship”. Vi har med en kvalitativ ansats intervjuat sex personer från tre olika försäkringsbolag. Försäkringsbolagen skiljer sig i storlek och har olika syn på både CRM och artificiell intelligens. Vi redogör senare i analysen hur artificiell intelligens och CRM används av försäkringsbolag på den svenska marknaden. I det avseendet ger vi läsare olika exempel på hur artificiell intelligens och CRM kan vara värdeskapande till både företag och kunder. Efter samtliga intervjuer och analys upptäcktes olika gemensamma nämnare hos deundersökta företagen vad gäller både artificiell intelligens och CRM.Implementeringsgraden av artificiell intelligens berodde till stor del på företagensmålkunder, eller mer specifikt på åldern hos målkunderna. Vi identifierade att försäkringsbolagen har arbetat olika länge med både CRM och artificiell intelligens, men är positiva till att båda verktygen kan ge både interna och externa möjligheter. Trots detta skiljer sig användningsgraden av verktygen mellan de undersökta försäkringsbolagen. Ett AI-integrerat CRM-system tillåter nya avenyer att utforskas som tidigare inte varit synonyma med försäkringar och kan således förändra relationen vi har till våra försäkringsbolag.

El presente trabajo de investigación busca implementar una aplicación perteneciente al rubro de fintech, la cual proporcionará información y análisis financiero a los usuarios que se suscriban y dependiendo del plan que obtengan, tendrán acceso mensual o anual. Estos usuarios son las personas bancarizadas entre los 20 a 45 años con un nivel socioeconómico A y B en Lima Metropolitana. Invierte Fast busca facilitar a los usuarios la exploración de alternativas de inversión, mostrándoles un resumen del crecimiento del mercado, ya sea de criptomonedas, acciones, bonos, divisas y fondos de inversión. La necesidad que busca suplir la aplicación es la dificultad que tiene el usuario promedio para obtener información sobre opciones de inversión, información a la cual no es tan fácil acceder y en muchos casos, se podría obtener información falsa acerca de estos o peor aún, las personas podrían recurrir a gurús que dicen ser expertos, pero que sólo buscan estafar a personas. A lo largo del trabajo, se presenta la creación del concepto de la app, hasta llegar a una versión que esté lista para salir al mercado. Para esto, realizamos distintas entrevistas para validar la necesidad que buscábamos suplir, una vez confirmada, realizamos el mock up de la app, la cual también fue testeada con posibles usuarios, de los cuales obtuvimos feedback que finalmente implementamos para la siguiente fase del diseño de la app. Luego de varias entrevistas y opiniones, formamos una idea sólida del rubro y de lo que implica introducirse en este, por lo que, el paso siguiente, era evaluar la viabilidad de este, realizando un análisis financiero, donde obtendremos las ratios necesarias para ver qué tan interesante es nuestra propuesta y cómo podemos financiarla. Por otro lado, se evaluó el plan de marketing que se podría aplicar para dar a conocer la aplicación, mediante diversas acciones con objetivos específicos, los cuales nos llevarán a lograr objetivos, tanto para obtener nuevos usuarios como para retener a los que ya están suscritos a Invierte Fast. Finalmente, respecto al plan de financiamiento, se determinó que dentro de los gastos preoperativos se encuentran desarrollo del aplicativo, almacenamiento, software, soporte funcional, entre otros. En este sentido, se requiere realizar una gran inversión en campañas publicitarias en Facebook, con la finalidad de atraer y fidelizar a los usuarios. Asimismo, se identificó que el crecimiento de las ventas seria entorno al sector Fintech. / This research work seeks to implement an application belonging to the fintech sector, which will provide information and financial analysis to users who subscribe and depending on the plan they obtain, they will have monthly or annual access. These users are the banked people between 20 to 45 years of age with a socioeconomic level A and B in Metropolitan Lima. Inverte Fast seeks to make it easier for users to explore investment alternatives, showing them a summary of the growth of the market, be it cryptocurrencies, stocks, bonds, currencies and investment funds. The need that the application seeks to meet is the difficulty that the average user has in obtaining information on investment options, information that is not so easy to access and, in many cases, false information could be obtained about them or worse still, the People could turn to gurus who claim to be experts but are only looking to scam people. Throughout the work, we are presenting the ideation and creation of the concept of the app, until we reach a version that is ready to go on the market. For this, we carried out different interviews to validate the need we were looking to fill, once confirmed, we made the mockup of the app, which was also tested with possible users, from whom we obtained feedback that we finally implemented for the next phase of the design of the app. the app. After several interviews and opinions, we formed a solid idea of ​​the field and what it means to enter it, so the next step was to evaluate its viability, carrying out a financial analysis, where we will obtain the necessary ratios to see what is so interesting is our proposal and how we can finance it. In other hand, the marketing plan that could be applied to publicize our application was evaluated, through various actions with specific objectives, which will lead us to achieve objectives, both to obtain new users and to retain those who are already subscribed to Invierte Fast. Finally, regarding the financing plan, it is determined that the pre-operating expenses include application development, storage, software, functional support, among others. In this sense, a large investment is required in advertising campaigns on Facebook, in order to attract and retain users. Likewise, it was identified that sales growth would be around the Fintech sector / Trabajo de investigación

Titel: Relationen mellan traditionella storbanker och fintechföretag - Konkurrens eller samarbete? Ämne: Självständigt uppsatsarbete inom företagsekonomi, 30 hp Författare: Angelica Svensson & Fredrika Årzén Forskningsfråga: Hur ser relationen ut mellan traditionella storbanker och fintechföretag inom kreditgivning till företag? Syfte: Studiens syfte är att beskriva relationen mellan traditionella storbanker och fintechföretag på kreditgivningsmarknaden för företag i Sverige idag. Vidare ska studien analysera och skapa en förståelse för den här relationen, samt utveckla teoretiska begrepp avseende konkurrens och samarbete. Metod: En kvalitativ metod med en abduktiv forskningsansats har varit utgångspunkten för studiens genomförande. Litteraturgenomgången och den teoretiska referensramen bygger på inhämtad information från litteratur samt tidigare forskning. Intervjuer har genomförts med 9 respondenter från både traditionella storbanker och fintechföretag. Slutsats: Resultatet som studien kommer fram till visar på att traditionella storbanker och fintechföretag har olika utlåningstekniker de utgår ifrån, med bakgrund i att det finns olika motiv och drivkrafter som driver dem. Motiven och drivkrafterna påverkar möjligheten till konkurrens och samarbete, då deras respektive utgångslägen ser olika ut inför en samverkan. En paradoxal strategisk process kan ses uppstå utifrån deras olika motiv och drivkrafter att beakta i ett sammanhang där de är verksamma på samma marknad. / Title: The relationship between traditional large banks and fintech companies – Competition or collaboration? Topic: Independent Project in Business Administration 30 credits  Author: Angelica Svensson & Fredrika Årzén  Research question: What is the relationship like between traditional commercial banks and fintech companies in corporate lending? Purpose: The purpose of the study is to describe the relationship between traditional commercial banks and fintech companies in the corporate lending market for business in Sweden today. Furthermore, the study aims to analyze and develop an understanding of this relationship, as well as develop theoretical concepts regarding competition and collaboration. Method: A qualitative method with an abductive research approach has been the basis for conducting the study. The literature review and the theoretical framework are based on gathered information from literature and previous research. Interviews have been conducted with 9 respondents from both traditional commercial banks and fintech companies. Conclusion: The findings of the study indicate that traditional commercial banks and fintech companies employ different lending techniques driven by their distinct motivations and incentives. The diverse driving factors influence the possibilities of competition and collaboration, as their historical backgrounds vary when considering cooperation. A paradoxical strategic process can be observed due to their differing perspectives and the different factors they need to consider when operating in the same market.

Is the collapse of the traditional banking industry imminent? Although this is a thoughtprovoking statement and numerous arguments could be made for its inevitable demise in the faceof the fast moving and highly innovative Fintech industry, the fact remains that the traditionalbanking industry still serves as the primary financial intermediary when it comes to almost all ofour financial needs. But what if this wasn't the case? The rise of the Fintech industry has broughtwith it a tidal wave of new innovations and technologies that have in more recent yearschallenged the traditional banking industries' unassailable position in the credit market. Onerelatively new phenomena in the Fintech industry is Peer-to-Peer lending (P2P). Is this newphenomena here to stay and can it possibly cause tremendous damage to the existing incumbent’sposition in the industry? For this study we decided to investigate the relationship between peer to peer lending and thetraditional banking industry in Sweden for a variety of reasons. Firstly, P2P lending challengesthe banks dominance in their most profitable sector which is lending. This is because P2Plending bypasses the banks role in this financial transaction, cutting them out as middlemen inthe lending process by connecting the lender and borrower directly. Furthermore, P2P lending isable to provide better interest rates due to lower operational costs as well as a faster loanapproval process as well as being able to target isolated and underserved customer segmentsthought to be outside of the banks risk parameters. These factors put together present a unique challenge to the banks in terms of competition anddisruption. Our research investigated whether or not the P2P lending platforms in Sweden did infact cause disruption to the traditional banking industry or if they were creating a separate marketindependent from the traditional banking industry. The purpose of our study was to illuminatethe relationship between P2P lending and the traditional banking industry in a developedeconomy in order to contribute to the ongoing debate about the impacts that P2P lending has onthe banking industry. In our research and through our empirical findings we arrived at some very interestingconclusions. The banking industry is indeed being challenged and slowly pushed out of theconsumer lending sector, although to attribute this solely to P2P lending would be incorrect.Furthermore, although all of the banks we interviewed agreed that P2P lending was not a threatfrom a strategic viewpoint, the argument could also be made that disruption is occurring asincumbent firms ignore the needs of those downmarket and as a result new entrants thentargeting these customer segments gain traction and eventually target incumbent firms mostprofitable customer segment. Our findings conclude that P2P lending has indeed causeddisruption in the traditional banking industry although the level of disruption caused by P2Plending specifically is still up to debate.