In theory, bank executives know that fintech partnerships are crucial to modernization efforts, but in practice, the partnership model with banks has left many fintech executives frustrated. The factors that delay or prevent fintech partnerships are almost entirely internal to the bank, including stakeholder navigation, competing priorities, consensus-based procurement, and misalignment between business and technology teams. Fintech executives view banks’ inability to organize themselves to act on a modernization vision as a liability for future partnerships.
This report offers the fintech perspective on how financial institutions can address organizational friction to access a broader, more motivated fintech partner market based on a survey of 25 fintech executives operating in payments, treasury, cash management, lending, and adjacent commercial banking verticals.
Clients of Datos Insights’ Commercial Banking & Payments service can download this report.
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