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

Oliver Dany, Ruchin Goyal, Jürgen Schwarz, Pieter van den Berg, Alessandro Scortecci and Steffi to Baben
Boston Consulting Group, 2016
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Editorial Rating

7

Qualities

  • Eye Opening

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.

Take-Aways

  • Since 2000, investors have poured about $78 billion into fintechs, and roughly half of that has funded firms that serve the corporate sector.
  • Traditional corporate banks are beginning to feel the competitive pressure from fintechs, despite banks’ advantages in funding, client relationships, product diversity and regulatory compliance know-how.
  • Because of their complementary traits, it makes sense for banks to combine with fintechs to achieve greater efficiency and sharpen customer service.

About the Authors

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

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