Mapping the convergence
For more than a generation now, banks around the world have been forging partnerships with financial technology companies, attempting to develop advanced solutions that will ease banks’ operations, energize their sales teams and excite their customers.
These machinations have spawned a new industry – FinTech – that is still in the evolutionary stage. As access to and the sophistication of personal technology have expanded, banks have redoubled their efforts, with mixed results, attempting to stay ahead of the technology curve and, probably more importantly, the ever-increasing expectations of their customers.
In the current environment, several essential questions remain unanswered:
• Given the continued demands and challenges of financial technology, who will ultimately take the lead in the banks/FinTech dance?
• Can banks convincingly demonstrate the appropriate technical savvy to their customers that can effectively differentiate them in a crowded marketplace?
• What roles will legacy financial technology providers eventually play as smaller and more nimble competitors continue to proliferate?
• Will there finally be a capabilities convergence of banks (and other financial services providers) and financial technology companies that meaningfully and positively impacts their respective businesses?
It takes an organization with special and significant expertise to properly parse the information and noise in the FinTech space, and produce a clearer path to success for all of its players. Efma, the global and largest network of banks in the world (more than 3000 financial institutions are members, chaired by Citi for the next 3 years), facilitates connections among decision-makers in the financial services ecosystem (bankers, insurers, fintech, regtech…), providing quality insights and market intelligence to help financial institutions make the right decisions to foster innovation and drive transformation.
Discover which banks are doing what and with which Fintech, how Asian Fintechs and banks are taking the lead, how other international organizations are successfully integrating new offering and business models in their strategy, together with Fintechs. We have selected for you the crème de le crème couples Bank + Fintechs, who will share their best practices to inspire and allow you to benchmark yourself.
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