The matchmaker approach to fintech partnerships

For financial institutions, finding the right fintech partner is a bit like finding a partner in personal relationships. It can take a lot of trial and error to make a great match. Fintech partnerships are a critical component of any financial institution’s overall business and innovation strategy, but making those connections isn’t as easy as swiping right.

Mounting pressure to compete with neobanks is also a factor in a financial institution’s overall extensibility strategy, as they continue to gain ground with consumers and businesses. In fact, 47% of new checking accounts opened in 2023 were with neobank challengers.

Given all of the complexity and nuances fueled by open banking, banking as a service (BaaS), and embedded finance, wouldn’t it be great for a financial institution to have an objective guide to help provide insights and assess the compatibility of new fintech partnerships to their unique needs and goals? Better yet, to know that their new vendor is committed for the long haul and won’t “ghost” them after a short period of time?

That’s where a trusted advisor can help. A partnership advisor, behaving similarly to a matchmaker, can provide guidance and objectivity when selecting third parties to become a part of a financial institution’s banking ecosystem. Having this type of “matchmaker” takes the guesswork and risk out of finding a match and alleviates tensions financial institutions face in the digital age.


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