Fintech Partnerships with Banks
Keywords:
FinTech based services, FinTech companies, smoothly transition, long-term growth, crossdisciplinary subjectAbstract
From the early 2000s, financial technology, or FinTech companies, have been on the rise, with exponential growth and development in the past decade. Offering approachable financial services, and easing the flow of money between accounts, across countries, in the present era the banking sector has seized the opportunity of incorporating FinTech based services. Thus, the ever burgeoning and changing landscape has witnessed numerous financial institutions and banks adapting to the same by
increasingly partnering with such FinTech corporations to establish their long-term growth and ensuring innovation. On a global level, such collaborations are evident, becoming progressively prevalent in the Indian ecosystem. This study, thus, intends to enumerate the potential climate of evolving collaborations between banks and FinTech in the country, analysing the same on a case-bycase basis, further, in comparison with international instances. Additionally, it outlines the conflict resolution techniques and adequate governance required in order to tackle the risks and conflicts of interest evident in the event of collaboration. In furtherance, it shall focus on the predicaments related to data sharing, competitive tensions, and dissimilar organisational objectives. The evolving financial landscape necessitates a robust management structure to assist banks and FinTech companies to smoothly transition into successful partnerships.
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