FinTech and Change Management

Abstract

FinTech refers to the integration of information technology and financial services. Over the years, digital transformation went from being perceived as an option to becoming a competitive advantage and a necessity for any organization to survive in such a hyper-competitive business market. A successful digital transformation goes beyond complying exclusively with the technical requirement and thrives on delivering sustainable outcomes. Change management's core motive is to sustain change by guiding and supporting individuals through change and adaptation to further contribute to the organization's success and outcomes. Many authors have contributed by proposing management models, starting with Kurt Lewin in 1947. This chapter aims to analyze nine change management models to identify necessities and challenges faced by individuals, organizations, and industries, such as FinTech, when embarking on a digital transformation journey.