Discovering the Power of Partnership

Industry expert Matt Hatch discusses today’s enterprise banking and financial technology. How can banking institutions benefit from partnerships with financial technology players?

Partnering with a financial technology (FinTech) company can ignite innovation and accelerate speed to market. The benefit to the financial institution is vast: lowering execution risk and accelerating speed to market.

For FinTech, what are the benefits of partnering with banking institutions?

Banks and financial institutions have a legacy of building trust and extensive customer networks, and have established charters and licenses required for money movement, custody and advice offerings. Partnering with an established financial institution can allow the FinTech company to accelerate both customer adoption and growth of financial services.

How do you see consumers benefiting from the intersection of the two sectors?

Customers will get products that integrate into their digital lifestyle and that are more personalized. The vast amount of data available means that financial products will be engineered individually for each customer’s needs. This kind of collaboration also gives consumers better access, simpler engagement and open integration.