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Microenterprises, Financial Innovation and Green Practices: Qualitative Case Studies from Finland

In: Green Digital Finance and Sustainable Development Goals

Author

Listed:
  • Asif Ruman

    (University of Oulu)

  • Ahmad Arslan

    (University of Oulu
    University of Aberdeen)

  • Petri Sahlström

    (University of Oulu)

  • Shlomo Tarba

    (University of Birmingham)

Abstract

This chapter is one of the first academic studies to highlight the critical role of FinTech microenterprises in linking financial innovations and sustainability. Based on the qualitative assessment of three Finnish microenterprises, we show that FinTech can develop unique technology-based sustainable (green) offerings to microenterprises. These offerings provide opportunities for other firms to engage with sustainability-conscious consumers, allow consumers to invest in sustainable firms at reasonable rates of return, and remove the need for paper receipts for credit or debit card transactions. Despite the different fields of operation, the case studies show that FinTech offers a unique market opportunity for the case firms to compete with prominent financial service providers and companies in other service sectors, which was not possible earlier. We found that the innovative offerings by these microenterprises create value for a range of stakeholders, including their customers, which sometimes also includes large financial sector players.

Suggested Citation

  • Asif Ruman & Ahmad Arslan & Petri Sahlström & Shlomo Tarba, 2022. "Microenterprises, Financial Innovation and Green Practices: Qualitative Case Studies from Finland," Economics, Law, and Institutions in Asia Pacific, in: Farhad Taghizadeh-Hesary & Suk Hyun (ed.), Green Digital Finance and Sustainable Development Goals, chapter 0, pages 187-204, Springer.
    • Handle: RePEc:spr:eclchp:978-981-19-2662-4_9
    DOI: 10.1007/978-981-19-2662-4_9
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