Unit21’s Post

Fintechs and banks, banks and fintechs.   There was a time—not so long ago—when it seemed like this town wasn’t big enough for the both of them.   But things are different these days. Partnerships are opening up new opportunities for collaboration that benefit both parties—as well as the customer.   It begs the question—what does the future hold for bank-fintech partnerships?   Well, future relationships will undoubtedly be shaped by the risk management guidance that was issued by a number of federal bank regulatory agencies last year—designed to “help banking organizations manage risks associated with third-party relationships.”   In addition, regulators are expected to hone in on the dynamics between both parties. Hopefully, this should go some way to ensuring success for a higher number of partnerships—which can often burn out before they really get off the ground.   There’s our two cents. Please feel free to share yours in the comments. #banking #fintech #payments

We are on a mission 💪🏻 To bridge the gap between banks and fintechs. And in this we continue to help banks and NBFCs raise low cost liabilities today as a leading banking tech start up. It is the need of the hour for them as they face a challenge in managing the credit to deposit ratio. Over the next few quarters at Fixerra we are bringing out newer and more innovative liability focused retail banking products that consumer facing fintech platforms will be able to power. Thank you The Economic Times for the coverage. Full article: https://lnkd.in/dxAgHSvq #Feature#Coverage#PR#Fintech#Banktech#FixedDeposit#FixerrainNews

Making it work... Banks and fintechs need each other. Will regulators help them tie the knot?   https://lnkd.in/eCpY_4dP Regulators need to find that middle ground that allows for bank-fintech partnerships to be successful and impactful. “We just need to be collectively thoughtful about how we do it, and it’s going to take a balancing of interest,” he said. “The banks and their supporters aren’t going to be happy. The fintechs and their supporters probably aren’t going to be happy, either, but there’s a lot of money to be made, a lot of improvement in the U.S. economy to be had, and a lot of wealth to be created by allowing those two parties to cooperate in a manner that’s thoughtful and beneficial.” #fintech #b2bpayments #digitaltransformation

In recent years, community banks have explored innovative approaches to provide high-quality financial services and products to their customers, often partnering with nonbank companies, including financial technology companies, or fintechs, to access new technologies and resources. In such partnerships, a fintech provides its end customers with access to a bank’s products and services. While these partnership arrangements vary, they commonly facilitate deposit-taking, payments services, and lending activities. This article provides an overview of the Federal Reserve’s supervisory approach to complex bank–fintech partnerships and discusses common risk factors associated with them. https://bit.ly/4hQTwzu #CommunityBankingConnections #CommunityBanks #FintechPartnerships

Making it work... Banks and fintechs need each other. Will regulators help them tie the knot?   https://lnkd.in/dNHh8Ptt Regulators need to find that middle ground that allows for bank-fintech partnerships to be successful and impactful. “We just need to be collectively thoughtful about how we do it, and it’s going to take a balancing of interest,” he said. “The banks and their supporters aren’t going to be happy. The fintechs and their supporters probably aren’t going to be happy, either, but there’s a lot of money to be made, a lot of improvement in the U.S. economy to be had, and a lot of wealth to be created by allowing those two parties to cooperate in a manner that’s thoughtful and beneficial.” #fintech #b2bpayments #digitaltransformation

The relationship between banks and non-bank players like fintechs has been an ever-evolving mix of collaboration and competition. For daily news and analysis subscribe to the https://lnkd.in/gR8aX8zJ newsletter. #FinTech #Payments #Finance

90% of FinTechs View Credit Unions as Collaborators, Not Competitors https://bit.ly/3DIilyf #fintech #fintechInnovation #creditunions #financialservices #digitalbanking #financialtechnology

The RBI has selected five companies for the test phase of its fifth Regulatory Sandbox cohort. These fintechs will be testing solutions across credit risk assessment, digital account opening, supply chain financing, and video KYC. I'm particularly excited about the potential of solutions to revolutionize lending and customer onboarding. Let's see how these innovations shape the future of banking! What are your thoughts on these groundbreaking solutions? CONNECTINGDOT FINAGG Technologies Private Limited IBDIC (Indian Banks' Digital Infrastructure Company) Signzy Fi Money Federal Bank #RBI #RegulatorySandbox #Fintech #Innovation #Banking #CreditRisk #DigitalOnboarding #SupplyChainFinance #VideoKYC

You know what would be kind of funny if it wasn’t also so serious? The growing prevalence of requirements for strategic plans in federal enforcement actions involving fintech partner banks, that’s what. I mean, I get it. Some banks have jumped into banking as a service without fully considering the risks or equipping themselves to manage them. A strategic plan requirement can force management and board attention to those lapses and build alignment. It’s sensible supervision. All good. And yet, community banks have been going out of business for generations precisely because their business strategies are weak. As a community bank, you can deliver sub-market returns year over year, decade over decade. With each quarterly call report, you can quantify the crummy results of your strategy for your regulator. Nobody will blink an eye, let alone make you file a strategic plan. The weakness of the traditional community banking business model is just part of the landscape. But think for a moment that you can do better than slowly circle the drain? Dare to set your sights a little higher? That’s when your regulator tells you to get your ducks in a row. #SponsorBanking #BaaS #Regulation #EnforcementActions

Discover how neobanks like Monzo Bank, @RevolutApp, and others are transforming finance with user-centric digital services in our roundup of the top 10 neobanks globally. #Fintech #DigitalBanking #Neobanks #fintech #banking #news #finance https://lnkd.in/ePcRUbKq