Structuring Morocco’s FinTech Ecosystem: A Conceptual Framework for Advancing Open Innovation and Financial Inclusion

Abstract

Although financial technologies, or FinTech, are widely recognized for their potential to improve access to financial services in emerging markets, the structural mechanisms through which an ecosystem transforms this technological promise into effective financial inclusion remain insufficiently understood. This issue is particularly relevant in North Africa, where institutional frameworks are undergoing rapid transformation, while academic research on this topic remains relatively limited. This article addresses this gap by developing an integrative and multilevel conceptual framework that articulates six core constructs, ranging from the regulatory environment to the socio-economic impact. Drawing on a theoretical synthesis grounded in four foundational streams: the FinTech ecosystems, open innovation, financial inclusion, and ecosystem theory particularly through the contributions of Lee and Shin (2018), Chesbrough (2003), Sarma and Pais (2011), and Adner (2017), the proposed model positions open innovation as a central mediating mechanism. It represents the conceptual missing link through which the meso-level structure of the ecosystem is converted into effective technological development.

Anchored in Morocco’s paradoxical institutional landscape, characterized by relatively robust financial infrastructure, persistent financial exclusion, and a strong predominance of cash-based payments, the proposed framework formulates nine testable research propositions. The contribution of this article is threefold. First, it bridges two theoretical perspectives that are often examined separately: the ecosystem approach and open innovation. Second, it brings the still underexplored North African context into contemporary debates on FinTech and financial inclusion. Third, it proposes an original conceptual model that can be operationalized and empirically tested in future research, particularly through partial least squares structural equation modeling, or PLS-SEM.

JEL Classification: G21; G23; G28; O31; O33; O55.

Paper type: Theoretical research (conceptual paper).