ENTREPRENEURIAL NARRATIVES OF FINTECH ADOPTION: HOW STARTUPS IN EMERGING MARKETS NAVIGATE DIGITAL FINANCIAL TRANSFORMATION
Abstract
This study investigates the entrepreneurial narratives of fintech startups in Pakistan, Bangladesh, and Malaysia, striving to formulate an understanding of adoption strategies in emerging economies, particularly concerning digital financial transformation. Guided by a qualitative research design, the author conducted semi-structured interviews with 15 fintech founders and innovation managers. From the perspective of thematic analysis, the primary focus was on entrepreneurial purpose. This in-built entrepreneurial purpose is sustained through entrepreneurial acts that address adaptive challenges presented by the poorly developed, under-regulated, and unfriendly infrastructure. Bangladesh and Pakistan entrepreneurs struggle with poorly developed digital infrastructure, weak consumer confidence, and uncertain, unpredictable, and complex regulatory frameworks. In contrast, Malaysia has a more advanced fintech sector owing to policy frameworks that emphasise innovation centring on sustainable development. Regardless of the contextual disparities, all three countries’ startups demonstrate a unique entrepreneurial attitude driven by a need to include others, an adaptability to varied circumstances, and an unwavering focus on the empowering potential of technology. Research shows that in developing economies, the focus of integrating fintech emphasises the technological and socio-institutional factors. It underscores the need for stable regulation, varying degrees of financial literacy, and improvements in innovation that are equitable to help close the digital divide sustainably. This will contribute to the literature in the Global South on digital finance’s potential for economic growth and social inclusion for developing economies, and social inclusion from the perspective of fintech innovators.
Keywords: Fintech adoption, entrepreneurial narratives, emerging markets, digital transformation, financial inclusion, resilience, sustainability.
