The relationship between fintechs and banks is evolving from competition to collaboration, say Claudio Camozzo and Jan Kupfer Global Co-Heads of GTB at UniCredit, writing in the bank’s new treasurer’s guide, Going Global, Going Digital, produced by TMI.
Since banks and fintechs differ considerably in terms of their set-ups, mindsets and capabilities, neither can offer a wholesale alternative to the other. Rather, in partnership, they can use their complementary strengths to provide clients with a faster, more comprehensive and more efficient solution than either could offer in isolation.
Indeed, with the resources, relationships and financial expertise of banks magnified by the technological know-how and innovative mindset of fintechs, corporate clients can expect a new generation of treasury tools that are faster, simpler and more comprehensive than ever before. All that remains is for the two sides to settle on a working balance for effective co-operation.
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