April 26, 2023 – There is no question that fintech companies are a vital component of any successful corporate banking strategy. These companies have not only raised the bar for user experience but have also successfully identified and built capabilities that tackle key corporate customer needs that most bank offerings don’t address. However, recent events are placing greater scrutiny on already rigorous bank processes for vetting these companies as they seek out innovative partners that are financially stable and secure.
This Impact Report provides insight into how midsize and large commercial banks handle fintech partnerships, where fintech partnerships excel and create challenges, and how partnerships bring tangible value to the bank. This report leverages a Q1 2023 survey of 50 respondents from Aite-Novarica Group’s Corporate Banking Research Council, including heads of corporate banking, transaction banking, and cash management who work primarily within the top 150 U.S.-based banks. Additionally, this report references a Q2 2022 survey of 300 midsize and large U.S. businesses.
Clients of Aite-Novarica Group’s Commercial Banking & Payments service can download this report.