Tag: fintech partnerships

Working with fintechs can help FinServs quickly launch new features and improve operational efficiency, so they need a streamlined framework for building those relationships and testing products.  Sean Manahan has helped Morgan Stanley make huge strides in how it partners with innovative tech firms.   As head of technology business development, Manahan is responsible for leading […]

While online BNPL options exploded during the pandemic, Citizens sees a chance to differentiate itself by tackling in-person businesses, and it’s expanding its network faster by working with Wisetack.  Citizens Bank is partnering with Wisetack to bring BNPL financing to more in-person services through the fintech’s network of merchants.   “We’re excited to partner with […]

Before beginning their relationships, banks and fintechs should establish quantifiable success metrics and make sure they’re aligned for the long haul, according to BNY Mellon and JPMorgan execs.  There’s no magic formula or one-size-fits-all approach to crafting successful relationships, but BNY Mellon and JPMorgan execs shared their perspectives on working with fintechs during a panel […]

A survey of banking execs found that cost cutting is one of the most attractive aspects of working with fintechs: They’re looking for partnerships that can make time-consuming and labor-intensive processes more efficient.  New research from Finastra reveals that most global banks plan to connect with an average of three fintechs over the next year […]

While incumbent financial firms have long provided trade credit and short-term loans to business customers, a new swath of fintechs is trying to make the process faster and easier.  SMBs often need trade credit to pay for their business purchases, but, historically, the payment process has involved filling out forms and waiting several days for […]

Partnering with fast-moving startups helps incumbents upgrade their customer offerings more quickly, as they compete against fintechs and each other. Big financial firms continued to embrace startups this year to help them hook their customers with useful features or revamped processes.   For example, HSBC, TD Bank, Barclays, and Standard Chartered are all relying on partnerships […]

Working with fintechs can be incredibly fruitful but requires rigorous vetting – especially given the current economic climate for startups. If your 2023 innovation roadmap includes potential partnerships, make sure you’re asking these questions. Wells Fargo’s head of digital, Michelle Moore, helps manage the bank’s fintech relationships. During a recent webinar with American Banker, she ran through […]