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Banks and FinTechs: Friends or foes? What it takes for banks and FinTechs to successfully cooperate

Author

Listed:
  • Lüth, Katharina

    (Raisin DS GmbH, Schlesische Straße 33/34, Germany)

Abstract

This paper examines the dichotomy of banks versus FinTechs with the aim of providing the reader with a better understanding in three areas: what banks and FinTechs each have to offer one another, what typical obstacles stand in the way of successful cooperation and how the COVID-19 pandemic lockdowns have changed the landscape for bank-FinTech partnerships. The paper explores the increasing difficulty of making clear categorisation within the financial sector, between banks and financial tech, pointing to tendencies that blur the lines between these categories and raising questions about how new business models will redefine FinTech and banking going forward. Readers will, moreover, learn what both banks and FinTechs need to understand and prepare for as they approach potential partnerships with the goal of building win-win-win solutions for banks, FinTechs and consumers.

Suggested Citation

  • Lüth, Katharina, 2021. "Banks and FinTechs: Friends or foes? What it takes for banks and FinTechs to successfully cooperate," Journal of Digital Banking, Henry Stewart Publications, vol. 6(3), pages 211-219, December.
  • Handle: RePEc:aza:jdb000:y:2021:v:6:i:3:p:211-219
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    More about this item

    Keywords

    Banks; FinTechs; partnership; innovation; digitalisation; trust; banking; cooperation; digitisation; pandemic;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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