Last week, Capgemini, LinkedIn, and Efma released the 2018 World FinTech Report. The report was based on a global survey of fintechs and traditional financial institutions (FIs). It observes how fintechs are changing the customer journey in financial services, the potential for cooperative relationships between traditional FIs and fintechs, and how bigtechs will affect financial services.
A key insight provided by the report is that fintechs and traditional FIs have much to gain from building symbiotic relationships. This finding is summarised by Anirban Bose, head of Capgemini’s financial services global strategic business unit:
“With more than 75 percent of FinTech firms identifying their primary business objective as collaborating with traditional firms, it is essential that both FinTechs and traditional firms transform their business models by collaborating to drive innovation while retaining customer trust. Without an agile and committed collaboration partner, both traditional and FinTech firms risk failure.”
You can download the report here.
If you are interested in learning more about the 2018 World FinTech Report, you are invited to attend a report deep dive on March 13th sponsored by Capgemini and LinkedIn, and supported by Holland FinTech and SBC. You can register for this event here.