Disrupting Financial Services: A Case Study on Capital One's Fintech Odyssey

Disrupting Financial Services: A Case Study on Capital One's Fintech Odyssey

N. Naseema, Shakeb Akhtar, Asila Abdullah Al Hinai
Copyright: © 2024 |Pages: 21
DOI: 10.4018/979-8-3693-1878-2.ch015
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Abstract

This book chapter aims to ferret into the ever-evolving landscape of financial technology through a comprehensive case study of Capital One- A disruptor of financial services by using big data. It involves a broad range of technological applications, including software, mobile applications, artificial intelligence, block chain, big data and other emerging technologies, to enhance and streamline various financial activities such as banking, payments, investments, and insurance. This book chapter explores the journey of “Capital One” in adopting fintech innovations to enhance its financial services offerings and increasing profitability by reducing the risk. Capital One is recognized as one of the early adopters of fintech in the banking industry. As a leading financial institution, Capital One has strategically integrated fintech solutions to improve operational efficiency, customer experience, and overall competitiveness in the dynamic financial landscape.
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Objectives Of The Case Study

This Case Study Seeks To

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    To examine the evolution of Capital One and its strategic shifts.

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    To analyze the key factors that contributed to the Capital One's success in the financial services industry.

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    To explore Capital One's interest innovative technologies and data-driven decision-making.

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    To discuss challenges faced by Capital One and lessons learned for other organizations

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Background Of The Study

Capital one has long history dating back to the year 1988 when it was founded by two young entrepreneurs and data scientists Mr. Richard Fairbank and Mr. Nigel Morris. At first they established business as a single line credit card company. Capital One aimed to be unique itself through a data-driven approach to credit risk management and personalized the customer offerings. Capital One is a financial services company which has managed to emerge as a distinguished player in the banking and financial services industry, renowned for its unique approach to consumer finance and financial services driven by data. This case study showcases the strategies that have contributed to the success of the financial service provider Capital One by focusing on its transformative use of advanced technology in financial services, customer-centric strategies, and risk management practices to tackle the obstacles.

Capital One gained its popularity as a credit card issuer in the United States, using advanced technology in its financial services such as big data analytics to revolutionize the way risky customers are differentiated from the non-risky ones (Ansari et al. 2022). This was the unique strategy that made Capital one successful by considering the credit cards to the less-riskier customers. The company strategically diversified its offerings in to banking and financial services after recognizing the potential.

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