A Conceptual Model for Stakeholder Engagement and Cross-Functional Collaboration in Fintech Product Development

This paper explores the pivotal role of stakeholder engagement and cross-functional collaboration in the development of fintech products. As the fintech industry continues to evolve with the integration of cutting-edge technologies, the successful development of financial services and products requires the active involvement of diverse stakeholders—including customers, regulators, investors, and technical teams. This study proposes a conceptual model that emphasizes the need for effective engagement and collaboration across various functions within an organization, including engineering, marketing, finance, and compliance. By analyzing the theoretical underpinnings of stakeholder engagement and collaboration, the paper outlines how these practices contribute to the creation of innovative, market-driven fintech solutions. Furthermore, it discusses the practical implications for fintech product developers and businesses, highlighting how the model enhances product outcomes, mitigates risks, and ensures alignment between business objectives and technical development efforts. Finally, the paper identifies potential challenges and limitations, while suggesting future research directions in emerging fintech areas. The findings underscore the importance of integrated collaboration models in fostering sustainable growth and innovation in the fintech industry.