For those who are considering a fintech partnership, there’s an immense opportunity to accelerate learning and become more agile – if they choose the right one.
It’s now obvious for most – open banking is a new way of working that is here to stay. Leda says there are few banks left that are treating it as a regulatory project. Instead, most are busy pulling apart their old value chains in order to create new ones. They’re onto building something wonderful – albeit a bit more slowly than we had all hoped.
In the rush to decide what they need for this new journey, banks are forgetting to first decide where they’re going. And for this choice – the most important one – Leda sees three options:
Make money the same way for as long as possible
Become a utility or infrastructure provider
Make money a new way
Partnering with the right fintech can be a powerful way to accelerate development, and energise a bank with purpose and pace. Leda talks about how to identify the meaningful partnerships – the ones that can transform parts of the organisation – and avoid the ones that are “empty calories”.
We explore the details of the Instant Payments Regulation, as well as its benefits for consumers and PSPs – such as increased convenience, more innovation in the market, and reduced costs.
Discover how variable recurring payments can transform smart meter billing into a more flexible user experience – and utility providers more ways to support financially vulnerable customers.
Streamline risk decisioning as a lender to lower operating costs using data-driven, digital loan origination, affordability assessment and income verification.
Contact our team to learn more about what we can help you build – or create an account to get started right away.