Summary of Fintechs May Be Corporate Banks’ Best “Frenemies”

Boston Consulting Group,

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Fintechs May Be Corporate Banks’ Best “Frenemies” summary
Banks need to adopt fintech innovations to remain competitive.

Rating

7 Overall

7 Importance

7 Innovation

8 Style

Recommendation

Fintechs are shaking up the world of banking. This concise report from professionals at the Boston Consulting Group reveals that these upstart firms – involved in a wide range of activities, from payments to supply chain financing – are graduating from serving individuals and small businesses to working with medium-sized and large enterprises. While traditional banks hold a distinct advantage when it comes to client relationships, infrastructure and financial strength, they’ll need to incorporate fintech innovations into their businesses to remain competitive. getAbstract recommends this enlightening article to financial services professionals interested in the advantages of fintech alliances.

In this summary, you will learn

  • How fintechs and traditional banks complement each other
  • Why banks should seek alliances with fintechs
 

Summary

Since 2000, investors have poured about $78 billion into fintechs, and roughly half of that has financed firms that serve the corporate sector. Traditional banks are beginning to feel competitive pressures, particularly in low-margin products and services that fintechs are more profitably exploiting...
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About the Authors

Oliver Dany et al. are professionals with the Boston Consulting Group.


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