Autori: Cristina Alaimo, Jannis Kallinikos, Francesco Sannino
Abstract:Over the last few decades, digitalization has revolutionized most walks of living, including the ways we shop and pay. The diffusion of mobile devices along with the increasing sophistication of digital technologies and the advent of platforms as widespread organizational arrangements of the digital era have established the conditions for the disruption of entire industries. In what follows, we report a case that shows the digital transformation which the financial service industry is undergoing. Flowe is an Italian innovative startup owned by Banco Mediolanum Spa.
Founded in 2020, Flowe counts more than 670k users and 50 partners, a substantial record achieved in a short time frame and amidst a global pandemic. Flowe is an open banking platform and a for-profit company which operations are closely associated with the pursuit of social and sustainable goals. The company can provide for payment services and issue loans in compliance with applicable laws and regulations. However, the company does much more than that. It brings the philosophy of openness, innovation, and sustainability to the banking sector and complements traditional banking operations with a mix of new service offerings, educational aims, gamified experiences, and traditional service provision.
