August 15, 2017
As influential as the FinTech community may seem to dedicated parties, the environment that entrepreneurs were determined to disrupt went through a learning curve and is rapidly balancing itself. More precisely, the environment – constituted by institutional leaders or large financial technology companies – is turning disruption to its advantage by using successful/promising newcomers as instruments to re-establish, or reach leadership, in niche markets.
Over the past few years, financial services industry stakeholders have been heavily involved with the startup community in one way or another – investments, incubators, accelerators, challenges, consortiums, regulatory sandboxes, etc. Startup-institution relationships (whether its Carrier-InsurTech or Bank-FinTech cases) have evolved from competition to a beautiful friendship, bringing out the best and accelerating innovation adoption.