News reports abound of successful (and not-sosuccessful) industry partnerships. Rarely are these model-driven. Banks and fintechs use several approaches–from white-labeling technology platforms to acquiring assets–to support growth. What differentiates successful organizations is not a model, but their ability to reduce friction, sustain buy-in, and operate flexibly. They achieve togetherness–and can navigate the challenges that arise when distinct organizations band together. Combined with capable workforces and competitive technologies, this is the Holy Grail of bank-fintech collaboration.
The insights in this report are based on interviews with leading bank and fintech executives as well as market-trends research. The paper is intended for financial institutions considering how to fast-track innovation via partnership; financial technology companies seeking to extend their reach via bank partnership; and others interested in optimizing existing partnerships.
Unless banks and fintechs work better together, neither can fully succeed. Join us and explore several principles that propel the journey.