The Complicated Bank-Fintech Relationship
Following on from yesterday’s story about a senior banking executive talking of an extinction event in banking PYMNTS counters with the idea that this is not a black and white issue. They point out that while fintech companies are partnering with banks more and more, banks have an inherent advantage: trust. They also have customer relationships spanning years or even decades and they are perceived as stable institutions. Fintech companies have yet to build that same level of trust. Source.