With banks and emerging fintechs introducing new innovations and business models to the industry by the day, the question of how these two parties co-exist in today’s landscape remains. And while some banks may have initially viewed fintechs as a threat, many are now looking to learn from their innovative approach. Collaboration is increasingly seen as the way forward, with transaction banks and fintechs leveraging their respective strengths – and minimising their weaknesses. Claudio Camozzo and Jan Kupfer, global co-heads of Global Transaction Banking at UniCredit, argue in Finextra that such collaboration and a customer-focused approach is essential to seize – and maximise – the opportunities at hand.
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