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Bank Views of Fintech Partnerships

Bank Views of Fintech Partnerships

Bank Views of Fintech Partnerships

Aite Novarica
Pages 4 Pages

The April 2023 report emphasizes that fintech companies are essential to corporate banking strategies, enhancing user experience and addressing unmet customer needs. Ninety-six percent of surveyed banks value these partnerships, with 26% rating them extremely important. Broadening product capabilities is the top driver, cited by 86% of banks. Challenges include legacy technology, seen as very challenging by 36%, and integration issues by 23%. While most partnerships achieve moderate success, they enhance product offerings, foster innovation, and boost customer acquisition.

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