Key areas for Bank & Fintech collaboration in a Covid-world
Gavin Maclean, Head of Payment Products, Lloyds Bank Commercial Banking, speaks to FinextraTv during Sibos about the impact of Covid on collaboration within the industry, the increase in demand and opportunity for new propositions and how Lloyds Bank’s team has been busy with fintech partnerships throughout the pandemic and continues to focus on partnering moving forward.
Fintech Opportunity Or Challenge For Banks?
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Are FinTech cos an opportunity or threat for banks?
Prashant Nair highlights 4 recent deals:
– Google Pay – Offering FDs
– HDFC Bank – PayTM
– Facebook SME loans
– CRED’s lending/deposit biz
.. and takes a look at the evolving FinTech landscape.
Can traditional banks compete with Fintech?
Big banks are losing money on the average consumer, who gets turned off by unexpected fees and penalties. The customer acquisition costs of running a bank are so high that it is difficult for any bank to be profitable on the average bank account.
So it’s no surprise that they’re losing to digital wallets that are easily scalable and only charge only for what you use, with no physical branches or ATMs.
How can traditional banks compete with this disruption from Fintech? Find out more on our Youtube channel at Ticker Symbol: YOU.
Banks developing strategies with fintech. Change in perception about fintechs. Collaboration is key.
Featuring Renee Friedman, a managing editor at the Economist Intelligence Unit (The EIU) and Ben Robinson, chief strategy officer at Temenos, discussing the key findings from the 4th annual EIU global retail banking report 2017. The report finds an industry in flux but more certain about its future.
You can access the report here:
Banks and fintechs: competition or collaboration?
For many players in financial services, whether or not fintech will disrupt financial services is now no longer a question of ‘if’, but rather, of ‘how much and fast?’ Banking the unbanked and simplifying people’s lives are two of the most appealing benefits of fintech. Many pundits believe that for these to be truly realised on scale, the fintech solutions need to be brought into the banks. Read more: https://invest.ec/2krqzlQ