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Ministry of Higher Education and Scientific Research
Djilali Libes University - Sidi Bel Abbes
Faculty of Economic, Commercial and Management Sciences
Innovation Management and Marketing Laboratory
National Conference: Artificial Intelligence and FinTech Entrepreneurship
On June 4 and 5, 2024, in person and remotely.
To cite this intervention
AI-Driven Innovation Management and Digital Marketing Strategies:
Kabbage's case study
Abstract:
This study explores integrating artificial intelligence (AI) into the operational frameworks
of FinTech enterprises, prompting novel leadership and marketing strategies. AI presents
opportunities for heightened efficiency, enhanced customer connectivity, and accelerated
business expansion. As a prime example, we analyze Kabbage a thriving FinTech business
and examine how they've successfully harnessed AI across innovation management and
digital marketing.
Keywords : artificial intelligence (AI) ; FinTech ; marketing strategies ; customer
engagement; Kabbage.
(AI)
Kabbage
.
(AI)Kabbage
Ammam, R.(2024, June 04 and 05th). AI-Driven Innovation Management and Digital Marketing
Strategies: Kabbage's case study. In Proceedings of the Hybrid National Conference: Artificial
Intelligence and FinTech Entrepreneurship - (pp. 01-16).University of Sidi Bel Abbes, Algeria
Introduction:
Recently, the FinTech sector has experienced rapid expansion driven by technological
advancements, evolving consumer behaviors, and increasing demand for accessible
financial solutions. Fundamentally, FinTech represents a convergence of technology and
finance, facilitating the creation of novel platforms, applications, and services offering
efficient alternatives to conventional banking methods. (Murinde et al. 2022 ;
Nicoletti,2021 ; Omarini,2020)
FinTech solutions, ranging from peer-to-peer lending platforms to algorithmic trading
systems, have democratized financial access, empowering individuals and businesses to
better manage their finances.( Gomber et al. 2018 ; Lagna & Ravishankar,2022)
Key to FinTech's success is its effective use of existing technologies like artificial
intelligence (AI), blockchain, big data analytics, and mobile platforms.( Ashta &
Herrmann,2021) These technologies support various FinTech innovations, streamlining
processes, enabling predictive analytics, and facilitating real-time decision-making, thereby
enhancing efficiency and reducing costs. Andronie et al.(2023) For instance, AI algorithms
analyze extensive datasets to evaluate creditworthiness, detect fraudulent activities, and
customize financial recommendations, enhancing overall customer experiences. Hohnen et
al.(2021)
Furthermore, blockchain technology has revolutionized financial transactions by
providing heightened security, transparency, and efficiency compared to traditional banking
systems. Blockchain-based solutions hold promise in optimizing cross-border payments,
enabling instant settlements, and minimizing transaction fees,( Varma,2019) addressing
longstanding inefficiencies in the global financial landscape. Concurrently, FinTech firms
recognize the strategic significance of digital marketing in customer acquisition,
engagement, and retention within a competitive landscape. Gomber et al.(2018)
The digitalization of marketing channels, coupled with the proliferation of social
media platforms and mobile devices, has offered FinTech firms unprecedented opportunities
to connect with their target audience. Nicoletti et al.(2017) Through targeted marketing,
content creation, and social media engagement, FinTech companies aim to enhance brand
recognition, foster consumer trust, and drive user engagement across various platforms.
Riemer et al.(2017)
Nevertheless, as FinTech continues to evolve rapidly, it faces challenges such as
regulatory compliance, cybersecurity risks, and the imperative to build trust in a disruptive
industry.( Ng & Kwok,2017) Established financial institutions are also responding with
their digital innovations, intensifying competition in the market. Gomber et al.(2018) To
address these challenges, continuous innovation, and adaptability are imperative for
FinTech companies to maintain a competitive edge and ensure long-term growth.
(Azra,2023)
By embracing emerging technologies, fostering a modern organizational culture, and
prioritizing customer-centricity, FinTech firms can navigate the complexities of the digital
age and differentiate themselves in the market.(Starnawska,2021) Collaboration,
experimentation, and a strong focus on customer needs remain crucial in driving positive
change and shaping the future of finance.
Research Objectives:
1. To Take a look at the digital advertising and marketing strategies employed by way of
FinTech corporations for customer acquisition and retention.
2. To look into the demanding situations and possibilities associated with digital advertising
and marketing in the FinTech .
3. To analyze the effect of virtual advertising on client engagement, brand loyalty, and
commercial enterprise overall performance inside the FinTech enterprise.
Research Questions:
1. How does the mixed-methods approach enhance the comprehensiveness of
AI-driven innovation management and digital marketing within the FinTech sector?
2. In what ways does the case study of Kabbage demonstrate the practical
applications of AI in addressing challenges such as credit risk assessment, lending
automation, and customer interaction optimization within the FinTech industry?
Literature Review:
Artificial Intelligence (AI), digital marketing, and FinTech are examples of fields that
have gained significant attention as organizations in various sectors strive to leverage
technological advances for strategic purposes.
In this literature review, we examine existing research in these domains, which
provides a theoretical basis for understanding the role of AI in driving innovation and
shaping digital marketing strategies.
I. Innovation management and AI
Innovation management involves a variety of strategies, procedures, and practices
intended to sustain creativity, encourage new products or services creation, and
continuously improve organizations’ frameworks (Bélanger, 2016). During this era of
digital transformation, AI has emerged as an influential supporter that helps in innovating
management capacities (Wamba-Taguimdje et al., 2020; Dwivedi et al.2021).
AI-enabled technologies such as machine learning, natural language processing, and
computer vision have enabled corporations to analyze big data sets for patterns in decision-
making across areas like product development, market research, and customer experience
optimization (Khan & Iqbal., 2020). Furthermore, AI has sped up a host of menial tasks
freeing up human resources to concentrate on imaginative and strategic elements of
innovation (Othman ,2019).
II. Digital Marketing and AI
Marketing has changed so much digitally that it now stands as a pivotal part of
marketing where firms try to reach out to customers through different digital platforms such
as websites, social media sites, and mobile applications (Peter& Dalla Vecchia,2021;
Varadarajan et al.2022). AI-backed technologies have revolutionized digital marketing by
enabling personalization automation and data-driven decision-making (Haleem et al.2022;
Elhajjar,2024).
AI-powered chatbots, virtual assistants, and recommendation engines help improve
customer experience by providing personalized assistance and recommendations based on
individual preferences and buying habits (Nwachukwu, & Affen,2023; Bhuiyan,2024).
Similarly, AI-driven predictive analytics and targeting algorithms have improved the
effectiveness of digital advertising campaigns. The optimization of marketing resources
leads to higher returns on investment (Krizanova et al., 2019; Lilien et al, 2022).
However, there are concerns about integrating AI into digital marketing concerning
privacy issues, data ethics, and algorithmic biases (Gerlick & Liozu, 2020; Ntoutsi et al,
2020).
III. Development Monitoring Practices within the FinTech Industry:
Advancement surveillance in the FinTech market includes using methods and open
development settings.( Manta,2018 ) As well as, collaborations to foster the production of
brand-new services and products. (Cucco & Richeri,2021) Additionally, the principle of
open technology has acquired a grip in the FinTech industry, as firms use outside networks,
startups plus scholastic studies to access brand-new innovations together with service
designs. (Ladagu,2020)
Collaborations with incumbents, regulatory authorities, and various other stakeholders
likewise play a crucial duty in driving technology and getting rid of obstacles to access in
very controlled markets( Garcia Saez, 2020)
IV. Digital Marketing Strategies within the FinTech Sector:
FinTech options use data-driven advertising and marketing to tailor projects and boost
consumer experiences, attracting an understanding of customer habits and also purchases.
( Malhotra & Malhotra ,2023) As well as, expert systems help marketing professionals
segment target markets, determine useful customers, and maximize advertisement investing.
(Roberts,2000) With the expansion of mobile phones and electronic systems, FinTech firms
can get to brand-new markets and are also involved with clients in real-time with different
networks. ( Lomachynska,2020 )
Nonetheless, difficulties connected to information personal privacy, cybersecurity as
well and governing conformity prevent marketing professionals from totally leveraging
customer information for targeted marketing. Quach et al.(2022)
V. Affiliations in between Innovation Management as well as Digital Marketing:
The combination of advancement administration and also electronic advertising in
FinTech supplies chances for customer-centric development as well as worth production.
Gomber et al.(2018) Straightening modern technology approaches with an understanding of
electronic networks permits the prioritization of influential tasks. Nurlan et al.(2021) The
nimble nature of electronic advertising allows trial and error with brand-new attributes plus
techniques in real time. Svrcek et al.(2014) Interdisciplinary partnership is necessary for
recognizing these harmonies coupled with driving lasting development in the FinTech
industry. Bardhan et al.(2010)
VI. Arising Trends coupled with Future Directions:
Emerging technologies such as blockchain, artificial intelligence (AI), and
decentralized finance (DeFi) are poised to revolutionize development management and
digital marketing in the FinTech industry. (Saxena,2021, Renduchintala et al.2022)
Blockchain enhances transaction trust and security, AI enables personalized marketing
experiences, and DeFi introduces innovative financial services. Sadman et al.(2022)
Understanding the implications of these trends for FinTech management and marketing
strategies is crucial for exploring new business models and opportunities for value creation.
(Tanda & Schena ,2019)
VII. Research Methodology:
1. About the company
Kabbage is a fintech company founded in 2009, specializing in offering cash flow
management solutions to small enterprises. By utilizing superior technology and data
analysis, Kabbage supplies numerous financial products such as lines of credit and working
capital loans its clients, thus enabling them to secure funds quickly without needing much
documentation or collateral.
The platform developed by Kabbage is user-friendly, allowing small business owners
to easily apply, monitor cash flow, and gain insights.
This establishes a trustworthy partnership with Kabbage, offering flexible financing
options for businesses in need.1
1 . https://www.authorize.net/resources/find-a-partner/merchant-services/Kabbage.html?category=category-one
2. The key objective of this research study is to thoroughly recognize different facets
of Kabbage's service procedures. Especially the research study intends to dive into Kabbage's
efficiency metrics, consumer demographics, plus market infiltration methods.
Figuer01. Kabbage Funding LLC
Source : https://fintel.io/so/us/48283pae1
Commenting on the result, The provided table outlines the institutional ownership
structure of Kabbage Funding LLC, detailing current positions held by various entities and
recent changes in holdings, with indicating an active intent to influence business strategy
and reflecting a passive investment exceeding 5%. This information offers valuable
insights into the company's ownership dynamics and the potential influence exerted by
major shareholders, shedding light on its strategic direction and management outlook.
3. Efficiency Metrics:
The research study looks to evaluate Kabbage's vital efficiency signs (KPIs) to review
its monetary wellness, and functional effectiveness coupled with total efficiency in the
FinTech market. This consists of metrics such as profit development, employee.
Table 01. Revenue, Employee Ratio, and Peak Revenue in 2023
Metric
Value
Annual Revenue
$200.0M
Number of Employees
277
Revenue per Employee Ratio
$722,022
Peak Revenue (2023)
$200.0M
Source : I developed it myself based on https://www.zippia.com/kabbage-careers-
1397132/revenue/#
Commenting on the result,The table summarizes Kabbage's financial performance
succinctly. With an annual revenue of $200.0 million and 277 employees, the company
boasts a revenue per employee ratio of $722,022. Notably, Kabbage reached a peak revenue
of $200.0 million in 2023, showcasing its strong market presence and operational
efficiency.
4. Consumer Demographics:
An additional vital element of the research study is to obtain an understanding right
into Kabbage's consumer base. This includes recognizing detailing the eligibility criteria and
partnerships for each group. The exact number of customers for individuals and lending
organizations is unspecified.
Table 02. Kabbage's Customer Segments: SMEs, Individuals, and Lending Organizations
Customer
Group
Description
Number of
Customers
SMEs
Kabbage offers loans to small businesses requiring
quick access to working capital, irrespective of higher
rates. Eligibility criteria include one year of operation,
generating over $50,000 annually or $4,200 monthly,
and having a valid business checking or PayPal
account.
Unknown (over
200,000 as of
October 2019)
Individuals
Individuals seeking personal loans must be US citizens,
at least 18 years old, and have a minimum pre-tax
annual income of $10,000, verified through their bank
account information.
/
Lending
Organizations
Kabbage's platform serves institutions facilitating SME
loans, with notable partners including ING, Sage, Fleet
Cards USA, Scotiabank, Santander, UPS, and Kikka
Capital.
Increasing
steadily
Source : I developed it myself based on https://www.businessmodelzoo .com/exemplars/
kabbage/
Comment on the result,The table shows, Kabbage's diverse customer base and
strategic partnerships . With over 200,000 customers, including SMEs, individuals, and
lending organizations, Kabbage's reach is extensive. Eligibility criteria for SME loans
prioritize quick access to working capital, while personal loans focus on accessibility for
individuals. Noteworthy partnerships with institutions like ING and Santander highlight
Kabbage's credibility in facilitating SME loans. Overall, the table showcases Kabbage's
inclusive approach to lending and its growing influence in the financial ecosystem.
5. Marketplace:
Furthermore the study intends to examine Kabbage's market infiltration approaches as
well as affordable placement within the FinTech landscape.
This includes evaluating market fads, rival tasks governing settings, as well as
entrances. By recognizing Kabbage's market infiltration initiatives the study intends to
determine chances for development, and growth coupled with distinction in the market.
Table 03. Kabbage Customer Growth and PPP Impact
Metric
Value
Total Customer Numbers
Nearly doubled in the past three months
PPP Loans Approved
$5.8 billion for 209,000 customers
New Customers Through PPP
97% of total
Pre-Pandemic Customer Count
225,000
Duration of Reach Expansion
Within three months
Kabbage's Position in PPP
One of the program's most prolific
lenders
Source : I developed it myself based on https://www.bankingdive.com/news/kabbage-
customer-count-paycheck-protection-program/580982/
Commenting on the table, Kabbage's significant growth in customer numbers
attributed to its participation in the Paycheck Protection Program (PPP). It highlights the
total loan amount approved, the proportion of new customers gained through PPP, the pre-
pandemic customer count, the duration of reach expansion, and Kabbage's notable position
as one of the top lenders in the PPP initiative.
Results and Discussion:
Here is a presentation of the major results of AI-Driven Innovation Management and
Digital Marketing Strategies: A Case Study on Kabbage.
Research Question 1: How does the mixed-methods approach enhance the
comprehensiveness of AI-driven innovation management and digital marketing within the
FinTech sector?
Principal results:
The study used an approach that provided an understanding of how Kabbage makes
use of artificial intelligence to drive innovation in their loaning processes, credit risk
assessments and means of gaining customers.( Zhao et al,2019 ; Alshareef & Tunio,2022 ;
Wewege et al,2020 )
Meanwhile, data analysis using numbers showed real impacts of artificial intelligence
on various key performance indicators such as Kabbage's efficiency metrics, consumer
demographics, plus market infiltration methods. (Nguyen ,2020 )
Research Question 2: In what ways does the case study of Kabbage demonstrate the
practical applications of AI in addressing challenges such as credit risk assessment, lending
automation, and customer interaction optimization within the FinTech industry?
Principal results:
Kabbage’s AI-powered loaning stage mechanizes credit risk evaluation by reviewing
massive quantities of data from different sources such as business operations, online
presence, and financial documents.( Klausner & Antia,2021)
The artificial intelligence algorithms facilitate real-time loan underwriting and
approval disbursement hence reducing time and efforts required in traditional lending
processes greatly. Howell et al.(2024)
Limitations and Future Research:
Shifting Investments : The shift from credit to other fintech sectors raises questions about
the causes of this move and possible repercussions for the financial ecosystem. Therefore,
future research can explore the drivers of this change as well as its impact on the overall
fintech arena.
Online Lending Dynamics: With more small business owners depending heavily on
online lenders, it is important to understand better what drives this trend. Hence, future
research could delve into why entrepreneurs choose online lenders for their financing
needs and how it affects traditional banking institutions.
Innovation Strategies of Fintech Companies: Notably, firms including Kabbage have
shown in their expansion and innovation strategies that there are valuable lessons to be
learned from evolving fintech space. Thus, further research could evaluate how effective
these strategies are at driving growth and competitive advantage in crowded markets.
Acquisition Dynamics and Technological Integration: Consequently, possible
challenges as well as opportunities that may arise when merging bought technologies with
existing platforms in fintech industry should be studied by the next generation researchers.
This will also help us understand how company performance could be affected by such
integration and where they would stand within a given sector?
IPOs’ Cautionary Approach: Future research can examine, in addition to the
determinants, how fintech firms decide on an IPO and the consequences for survival and
growth over time.
Conclusion:
Kabbage’s case demonstrates the power of artificial intelligence-led innovation
management and digital marketing approaches in negotiating the intricacies of fintech. By
proficient use of AI, blockchain and cryptocurrencies it has positioned itself as a leading
company in the industry through operational efficiency and customer satisfaction.
Moreover, Kabbage’s strategic adoption of digital marketing methods has increased its
brand presence, thereby establishing strong relationships with small business owners. However,
while Kabbage's achievements are evident, ongoing research is necessary for appreciating the
long-term effects of these advances and always refining tactics in an ever changing
environment. Nevertheless Kabbage remains a flagship for novelty showing how ground
breaking technology combined with shrewd marketing techniques can drive revolutionary
growth in financial services sector.
Results
Kabbage's AI-driven approach personalizes marketing and support, increasing
engagement and customer satisfaction.
Automating tasks like loan processing and risk assessment with AI has streamlined
operations, saving time and costs.
Predictive and real-time analytics help Kabbage make informed decisions and quickly
respond to market changes.
AI improves risk assessment accuracy and fraud detection, enhancing loan portfolio
quality and financial security.
Leveraging AI, Kabbage has positioned itself as an industry innovator, attracting and
retaining customers.
Recommendations
Regularly update AI models to ensure effectiveness in predicting behavior, assessing
risk, and detecting fraud.
Integrate advanced AI technologies like machine learning and natural language
processing to enhance operations.
Implement ethical guidelines to ensure AI transparency, fairness, and data privacy.
Apply AI to new areas such as dynamic pricing and customer churn prediction.
Encourage collaboration between AI experts and marketing teams for more effective
strategies.
Educate customers on AI benefits to increase trust and acceptance.
Hire and retain skilled AI professionals to maintain and improve systems.
Set up systems to track AI performance and measure its impact on business outcomes.
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