As a result of the work carried out within the research project Money in Transformation: Actors, Processes and Social Consequences of Financial Innovation (MONFIN), a report has recently been published that systematically presents the main results obtained and the conclusions reached over the course of the project.

Access the full text here.

Summary

The report provides an analysis of the Fintech ecosystem in Spain from an interdisciplinary perspective that integrates approaches from economics, sociology and business management, and situates the study within a dynamic framework informed by economic history.

The study aims to examine the Spanish Fintech ecosystem in order to identify, on the basis of empirical evidence, its main characteristics and business models, as well as to understand the processes of financial innovation that underpin it. In addition, it explores the relationship between demand and digitalisation and its impact on mechanisms of financial inclusion and exclusion, paying particular attention to dynamics of competition and intersectoral collaboration.

The research adopts a mixed-methods approach, combining primary and secondary sources, including a telephone survey of the Spanish fintech sector, analysis of balance sheets and income statements, and semi-structured interviews with key stakeholders.

The report was coordinated by Professors Juan Carlos Maixé-Altés  and Matilde Massó, principal investigators of the project.

Matilde Massó is an Associate Professor of Sociology in the Department of Sociology and Communication Sciences at the University of A Coruña (UDC). Her main research interests focus on the transformations of money, the role of culture and emotions in economic processes, and how technological innovation is shaping a new conception of the economy concerning theories of justice. She has extensive experience leading research projects in economic sociology, particularly in financialization studies, the sociology of money, and financial innovation.

Carles Maixé-Altés is a Full Professor of Economic and Business History at the Universidade da Coruña. His research focuses on banking history, European savings banks, and technological innovation in retail banking. He has published extensively on the digitalization of banking, market transformation, and payment systems, establishing himself as a leading scholar in economic and business history.