Financial institution-FinTech partnerships have taken the banking business by storm. Most banks and LIKE_Token credit score unions now consider FinTech partnerships to be essential to their future success. However what kind of partnerships are we speaking about? And what drives the success of these partnerships? This study from Cornerstone Advisors, based on a survey of 290 U.S.-based senior financial institution and credit union executives and interviews with execs with experience with fintech partnerships, finds that:

«The best way you handle 10,000 suppliers is completely completely different from the best way you managed 10 technology companions,» Piscini said. «That is an enormous challenge for big organizations: how do you manage your 10,000-provider ecosystem versus the ten relationships you had before. For them, it’s not as much about technology but what sort of innovation can I source and the way do I try this in an ecosystem that’s rather more fragmented than it was?»

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