Exploring the Innovation Diffusion and Resistance in the Fintech

This study uses Clayton Christensen's Theory of Jobs to Be Done to examine the functional, social and emotional aspects of the Ant Group's service innovation during the three phases of its development: the budding, the thriving and the metamorphosis phases. The study found that the Ant Group's service innovations in these three phases did solve many consumers' pain points and made the Ant Group a great success. Because of the Ant Group's plan to go public was suspended by the Chinese financial regulator, we found that in addition to the functional, emotional and social aspects of the structure of innovation as discussed in the Theory of Jobs to Be Done, the regulatory aspect also affects the viability of the application of the innovation, and the more socially relevant the allocation of resources to a good or service, the more important the impact of regulation on innovation.