As Fintech Matures, It Learns How to Play with Others
Fintech is growing up: Financial institutions are increasingly viewing these disruptors as partners while startups are learning that they need the scale and regulatory expertise of the incumbents. Both sides have a lot to learn, and benefit, from each other.
Wharton has a great write up from the “Fintech: The Impact on Consumers, Banking, and Regulatory Policy” conference at the Federal Reserve Bank of Philadelphia.
The piece provides examples of how startups and traditional financial institutions are benefiting from collaboration with one another, specifically in areas like alternative data and cryptocurrencies.
From a communications perspective, this is a good reminder to think twice before negatively discussing the others in your industry. You never know if today’s competitor could become tomorrow’s partner.
