Fintech at an inflection point: consolidation, competition, and partnerships

Innovation and technology, Financial Strategy
/ Banking

The Banking and Fintech Leadership Forum, September 2020

On August 26th, 2020, fintech CEOs and other executives, bank executives and directors, and other industry participants convened virtually for the third Banking and Fintech Leadership Forum hosted by Tapestry Networks and LendIt Fintech. Participants discussed the how the pandemic has accelerated a shakeout in the industry, the state of technology transformation in banking, and where and how collaboration among fintechs and banks might evolve, including the relative benefits of “vendor” and “partner” relationships. Key themes that emerged include:

  • The competitive landscape continues to evolve

  • Bank and fintech partnerships remain attractive, but both parties are more selective

  • Fintechs debate engagement models with banks