Collaboration, Regulation, and AI are changing the way Fintechs and Banks co-exist.
Fintech startups are focused on finding the right product-market fit, lowering acquisition costs, and ushering in revenue-positive customers en masse. Many are very successful because they manage to effectively cater to customer’s financial needs in a personalized way—a stumbling point for many incumbent banks.
Alternatively, incumbent banks enjoy scale, a strong brand reputation (or at least recognition), and trust and credibility in the marketplace. They do not face the customer acquisition or regulatory compliance issues that many fintechs do, nor do they struggle with distribution. Yet they find that new entrants to the market are better at meeting customer needs--a threat that is further aggravated by banks’ reliance upon outdated legacy systems.
This paper explores the interplay between market realities and the relationships between banks and fintechs in a changing landscape. Download our latest white paper to get insights on [more here], including:
This paper is for financial institutions and fintechs that want to better understand the current and future trends and the important considerations that can impact success.