Alliance with fintech: Are banks opening the Pandor box?

Cyril Chambefort ()
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Cyril Chambefort: GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne - EM - EMLyon Business School - CNRS - Centre National de la Recherche Scientifique

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Abstract: The emergence of fintech companies has disrupted the financial landscape, challenging the dominance of traditional banks. Fintech firms aim to compete by providing intuitive, simple, and efficient applications that prioritize customer experience. This article explores the competition dynamic between fintech and banks, highlighting the dual nature of fintech as both a threat and an opportunity for banks and the strategic approaches taken by them to collaborate, acquire or compete head-on with fintech start-ups. The profitable alliance between banks and fintech is also discussed, emphasizing the strategic collaborations that drive innovation in the industry.

Keywords: Banks; Big Tech; Competition; Coopetition; Digital Transformation; Fintech; Fintech Partnerships; IT Systems; Incumbent; Innovation; Strategic Collaborations. (search for similar items in EconPapers)
Date: 2023
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Published in Reference Module in Social Sciences, Elsevier, 2023, ⟨10.1016/B978-0-44-313776-1.00117-3⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04277049

DOI: 10.1016/B978-0-44-313776-1.00117-3

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