On their own, start-up fintechs find it a challenge to compete with traditional banks; but by teaming up with technology giants they could beat the banks at their own game.
While top banks like Citi, Goldman Sachs and Barclays are leading the field when it comes to investing in and incubating fintechs, they are being joined by tech giants like Google, Apple, Amazon.
Tech giants, experienced in dealing with start-ups, can leverage new innovative ideas and apps from fintechs to become competitors to banks. Plus, fintechs may find working with tech giants more appealing as they are technology focused, innovative, open, agile, and can provide the scale and customer base required to shape & grow a solution.
Sourced through Scoop.it from: www.finextra.com