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 organisations.

With the number of Bank / FinTech partnership deals increasing where will mutual value be found?

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

The Lloyds contributors provided their thoughts on achieving mutual value through partnerships.

Three FinTech benefits of a valuable partnership

1. Access large client base achieving wide reach
2. Leverage trusted brands and reputation of the incumbent banks
3. Access to large balance sheets

Three Bank benefits of a valuable partnership

1. Avoids commoditisation
2. Accelerates digital transformation
3. Expands distribution of products and services