COVER
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The Concise FINTECH COMPENDIUM
Patrick Schueffel
Copying and reprinting. This booklet contains proprietary information, which is protected by copyright. All rights are reserved. However, material in this booklet may be reproduced by any means for educational and scientific purposes without fee or permission with the exception of reproduction by services that collect fees for delivery of documents. This permission is subject to the following conditions: (i) the customary acknowledgment of the source is given; (ii) the material may not be used for any commercial purposes without the author’s prior written consent; (iii) the copies must retain any copyrights or other intellectual property notices contained in the original material. This consent does not extend to other kinds of copying for advertising or promotional purposes, or for resale. Requests for permission for commercial use of material should be addressed to the School of Management, Institute of Finance, Professor Patrick Schueffel, Chemin du Musée 4, 1700 Fribourg, Switzerland. Requests can also be made by e-mail to:
[email protected] © 2017 by Patrick Schueffel. All rights reserved. School of Management Fribourg (HEG-FR) HES-SO // University of Applied Sciences and Arts Western Switzerland Published in Switzerland Visit the School of Management Fribourg home page at http://www.heg-fr.ch/EN
PREFACE To be meaningful and effective, discussions require sound definitions. Fintech as a rather young field of business and academic endeavor has not yet yielded commonly accepted definitions. This booklet attempts to help building a definitional foundation for this new field by providing definitions for terms from the Fintech sphere, but also from its constituent subjects Finance and Technology. It is the result of many questions I received from students, scholars, and practitioners alike and the discussions emerging from these inquiries. Yet, the reader of this booklet should always bear two things in mind: First, definitions are never right or wrong per se, but only useful or less useful in a certain context. Secondly, definitions are never set in stone but evolve over time. Accordingly, we can also expect the definitions provided in this booklet to be challenged over time and depending on the contexts are they being used in. Finally, a word of thanks to my colleagues and friends from the School of Management Fribourg, Rico Baldegger, Paul Loeffler and Nicolas Steiner, who patiently discussed Fintech topics with me and generously shared their insights. With such excellent sparring partners, any errors that remain in this booklet are obviously my own.
Patrick Schueffel
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1 accelerator (startup accelerator, seed accelerators)
An accelerator is a time-limited, coh