The Next Phase of Relationships Between FinTech and Banks: Working Together for a Better Future

The whole FinTech crusade started out with the idea to fill the void and serve disadvantaged groups of the population left out by cautious policies of financial institutions. As a result, a range of startups gained substantial market traction and crossed international borders to threaten the existing national players. Industry professionals even estimated that ~40% of revenues and up to 60% of the profits in retail banking could be under the threat of FinTech rivals.

Overall, the history of relationships between FinTech and financial institutions can be distinguished into < ...