Interest of banks in fintech partnerships U.S. 2021

Fintech startups and companies have grown in importance in recent years, disrupting the financial sector. Traditional banks and financial institutions also started to acknowledge the potential of these new players and the need to partner with fintech companies in order to provide more digital and innovative services. According to a survey conducted in December 2020 in the United States, digital account opening, mobile wallet, and fraud/risk management are the three areas in which banks' executives said their institutions already are working with fintech partners or were interested in such partnerships.