Evaluating the FinTech success factors model to achieve a sustainable financial technology business: An empirical study in Vietnam

Abstract

The financial technology (fintech) industry received much attention recently. This study is the first to propose an innovative extended approach based on the Combined Compromise Solution (CoCoSo) and Interval-Valued Intuitionistic Fuzzy Set (IVIFS) models (IVIF-CoCoSo) to rank and evaluate sustainable fintech success factors in the Vietnamese fintech sector. Five success factors are collected from the existing literature to evaluate fintech firms. Using the IVIF-CoCoSo approach to rank, model, and evaluate the success factors (based on experts’ opinions) in a sustainable financial technology business, the results indicate that the agility, security, and innovative success factors are the most significant in the Vietnamese fintech sector. The study findings, and comparisons made between the results of the proposed method and other Multi-Criteria Decision Making (MCDM) methods, confirm the accuracy of the proposed method in solving the fintech success factors evaluation problem.

Keywords

• financial technology
• innovative success factors
• sustainable fintech
• interval-valued intuitionistic fuzzy set
• combined compromise solution
• F30