Banks and FinTechs: Friends or foes? What it takes for banks and FinTechs to successfully cooperate

Katharina Lüth
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Katharina Lüth: Raisin DS GmbH, Schlesische Straße 33/34, Germany

Journal of Digital Banking, 2021, vol. 6, issue 3, 211-219

Abstract: This paper examines the dichotomy of banks versus FinTechs with the aim of providing the reader with a better understanding in three areas: what banks and FinTechs each have to offer one another, what typical obstacles stand in the way of successful cooperation and how the COVID-19 pandemic lockdowns have changed the landscape for bank-FinTech partnerships. The paper explores the increasing difficulty of making clear categorisation within the financial sector, between banks and financial tech, pointing to tendencies that blur the lines between these categories and raising questions about how new business models will redefine FinTech and banking going forward. Readers will, moreover, learn what both banks and FinTechs need to understand and prepare for as they approach potential partnerships with the goal of building win-win-win solutions for banks, FinTechs and consumers.

Keywords: Banks; FinTechs; partnership; innovation; digitalisation; trust; banking; cooperation; digitisation; pandemic (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2021:v:6:i:3:p:211-219

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