With banks and fintechs both bringing a raft of new innovations to the industry, how these two parties co-exist in today’s environment remains a key question. While some banks may have seen fintechs as a threat, many are now trying to learn from their innovative mindsets and agile setups. Collaboration is now being viewed as the preferred approach, with 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 Finance Digest that an appreciation of different collaboration models and a customer-focused approach are crucial to seizing the opportunities at hand.
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