Over the past 10 years, different types of financing have become available in the Netherlands. It is now possible to combine bank loans, crowdfunding loans and risk capital. Moreover, fintech applications lower the threshold for applications and reduce response times from weeks to just days or even hours. Fraser, Bhaumik and Wright (2015) point out there is a lack of knowledge of the cognitive process involved in selecting SME financing. This paper looks into the selection process financial advisers use, against the backdrop of the growing range of funding possibilities. To assess this process, we try to understand dominant habits and related heuristics. Within our explorative study, 19 experienced and independent SME financial advisers were interviewed. The questions address their knowledge, skills, experiences and choices in the selection process on the financing or refinancing of working capital and growth. Taking a grounded theoretical approach, we use Atlas TI to label all answers and statements step by step. The findings suggest a strong bias of decision-making towards the more traditional banking products. Yet advisers state they are aware of, and familiar with, other solutions. We have also found that fintech solutions are hardly used to prepare financing solutions up front. Financial advisers estimate the likelihood of acceptance by a few financial providers they know well within their personal network. We suggest that there is a behavioural approach to financing in the day-to-day decisions made by financial advisers. As long as automated selections are not fully transparent and are unable to combine all types of financing up front, financial advisers will be guided by habit or by availability, confirmation and affect heuristics, rather than looking for new financing solutions and combinations.
MULTIFILE
Stichting SURF, de ICT-samenwerkingsorganisatie van het hoger onderwijs en onderzoek, organiseerde op 5 en 6 november 2002 de SURF Onderwijsdagen 2002, in het Nederlands Congrescentrum in Den Haag.
Social needs are important basic human needs; when not satisfied, loneliness and social isolation can occur and subsequently sickness or even premature death. For older people social needs can be more difficult to satisfy because of the loss of resources such as health and mobility. Interventions for older people to satisfy social needs are often not evaluated and when evaluated are not proven successful. Technological interventions can be successful, but the relationship between technology and social wellbeing is complex and more research in this area is needed. The aim of this research is to uncover design opportunities for technological interventions to fulfil social needs of older people. Context-mapping sessions are a way to gain more insight into the social needs of older people and to involve them in the design of interventions to fulfil social needs. Participants of the context-mapping sessions were older people and social workers working with older people. Four sessions with a total of 20 participants were held to generate ideas for interventions to satisfy social needs. The results are transcripts from the discussion parts of the context-mapping sessions and collages the participants created. The transcripts were independently analysed and inductive codes were attached to quotations in the transcripts that are relevant to the research question and subsequently thematic analysis took place. Collages made by the participants were independently analysed by the researchers and after discussion consensus was reached about important themes. The following three main themes emerged: ‘connectedness’, ‘independence’ and ‘meaningfulness’. Technology was not identified as a separate theme, but was addressed in relation to the above mentioned themes. Staying active in a meaningful way, for example by engaging in volunteer work, may fulfil the three needs of being connected, independent and meaningful. In addition, interventions can also focus on the need to be and remain independent and to deal with becoming more dependent. The older people in our study have an ambivalent attitude towards technology, which needs to be taken into account when designing an intervention. We conclude this paper by making recommendations for possible technological interventions to fulfil social needs.
