Five tips for forming an effective Bank / FinTech partnership

Over the past few weeks I’ve been involved in working with a number of clients on proposals for new business – mostly these proposals have been FinTechs seeking to work with larger incumbent banking organisations.

With the number of FinTech partnership deals increasing what are the attributes of a successful Bank / FinTech partnership?

Recently I attended a bank partnerships briefing organised by the Emerging Payments Association and hosted by Lloyds Bank.

The Lloyds contributors provided some practical advice on beneficial Bank / FinTech collaboration models including advice on how a FinTech should engage with a bank.

Forming effective partnerships

Five FinTech tips for forming an effective Bank / FinTech partnership:

1: Define your value proposition (What problem are you solving?)

2: Evaluate how best to engage

3: Build a joint business case (The creation of mutual value)

4: Be responsible and show maturity

5: Find common ground in different cultures.

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