Insights into FinTech leadership composition for risk governance

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Abstract

This research investigates the composition of the leadership teams responsible for governance in financial technology (FinTech). While several studies examined the FinTechs’ financial performances (Al-Matari et al., 2023; Siddiqui & Rivera, 2024), there remains a research gap in understanding the leadership role (AlBaker, 2024), a critical driver influencing the performance (Al-Matari et al., 2023). This study identifies industries where FinTech companies are registered using the Nomenclature of Economic Activities (NACE) code by classification framework. Results show that 41 percent of FinTechs are registered as information technology (IT) companies, and 38 percent are registered as financial institutions. Then, the professional backgrounds of the founders and board of directors (BOD) are analyzed by examining the NACE code of the companies they were affiliated with at the time of FinTech inception and in December 2022. This dual analysis helps to understand how FinTech leadership has evolved. Results showed that most leaders have prior experience in finance, IT, and real estate industries. This research provides insights to practitioners intending to build their leadership teams, the regulators who must select the sectoral priorities for programs, and academicians who build FinTech content. All of them assist the FinTech sector’s development. The research provides an unprecedented methodology to assess FinTech via a replicable governance structure across countries, sectors, and industries.

Keywords: FinTech, Governance, Leadership

Authors’ individual contribution: Conceptualization — Z.S. and C.A.R.; Methodology — Z.S.; Formal Analysis — Z.S.; Data Curation — Z.S.; Writing — Original Draft — Z.S.; Writing — Review & Editing — Z.S. and C.A.R.; Visualization — Z.S.; Supervision — C.A.R.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G21, G23, G24, G32, L26, O33, O16

Received: 10.12.2024
Revised: 28.02.2025; 20.05.2025; 08.09.2025
Accepted: 15.09.2025
Published online: 17.09.2025

How to cite this paper: Siddiqui, Z., & Rivera, C. A. (2025). Insights into FinTech leadership composition for risk governance [Special issue]. Risk Governance & Control: Financial Markets & Institutions, 15(3), 236–249. https://doi.org/10.22495/rgcv15i3sip6