Fintech & Banking: Collaboration for Disruption
This report draws on insights from senior members of European banks and FinTech firms, brought together by Axis Corporate and the European Financial Management Association (EFMA).
The 2016 FinTech & Banking Report by Axis Corporate and EFMA explores the increasing prominence of FinTech firms and need for banks to adapt to a changing industry ecosystem.
The banking sector finds itself at a crossroads. It was not only the financial crisis which forced it to take a strategic turn in 2007, many of the standards which had been valid up to that point changed.
This report draws on insights from senior members of European banks and FinTech firms, brought together by Axis Corporate and the European Financial Management Association (EFMA) to discuss points of interest, challenges and the alternative future models for the financial services industry. This report discusses:
- The FinTech revolution underway in the Financial Services industry;
- The dis-intermediation of traditional banking services as agile new players emerge;
- Moving to a customer-centric view to re-think the ‘customer experience’;
- The role of partnering and collaborating in forming an ecosystem;
- The role that regulation and technology has to play in an increasingly digitized sector.
Related article: Banks Learn to Innovate…or Die
Axis Corporate and EFMA hosted a recent webinar that elaborated on the collaboration between banks and fintechs. Read the discussion summary here. If you are interested in discussing any of the insights or conclusions from the report, please do not hesitate to contact us.