FinTech collaboration networks and the digital transformation of financial services

The diffusion of financial technologies (FinTech) in financial services has drawn worldwide attention. However, little is known about how different types of enterprises contribute to the development and transformation of this sector. In this study, we conducted a network analysis of 23,000 FinTech news articles (2008–2022) to map and characterize the global network of FinTech enterprises. We also performed a textual analysis to identify evolving FinTech trends and to differentiate collaboration dynamics between enterprise types. We found that traditional financial services providers are central to the FinTech network, while technology giants, regulatory bodies, and FinTech start-ups have gained increasing prominence. Moreover, ties between similar enterprises are stronger, although these connections have weakened over time. Textual analysis reveals shifting FinTech priorities and distinct collaboration patterns between enterprise groups. Keywords: FinTech; collaboration; network analysis; news articles; financial services.