Banks and credit unions have what it takes to successfully partner with Fintechs. They’re committed to meeting their community’s needs; they can identify and implement innovative technologies; and they want tech solutions that follow sound banking practices and offer appropriate protections to their customers.

As financial institutions explore collaboration, they’ll find there’s more than one type of fintech partnership. The Federal Reserve has identified three: Front-end Fintech, Customer Oriented, and Operational Technology. These three types differ in which partner directly interacts with customers and how the financial institution benefits (e.g., new markets, operational efficiencies).

Banking as a Service (BaaS) is one example of a Front-end Fintech partnership. With its potential for new customer segments, this model provides FIs an opportunity for a high-growth, low-margin business.

But how does a financial institution know when and why to partner? Join us for this complimentary BAI webinar to gain insights and tools for successful partnering with Fintechs.

Key Takeaways:

• FI-fintech partnerships can create business value, enhance CX, and increase operational efficiency.
• Embedded banking, or Banking as a Service (BaaS), is a growing type of partnership that provides tremendous revenue potential.
• For successful partnering, FIs need to learn and assess a new suite of products, plus evaluate operational and security risks.
• Additional success factors include FIs’ commitment to innovation and choosing fintech partners that understand their regulatory and compliance needs.

BAI’s Ideas into Action webinar series has one objective: equip managers with the information and resources they need to capitalize on emerging industry trends. Each 60-minute session covers: What’s happening, what it means for you, and Actions you can take. The webinar series reflects BAI’s mission to give financial services leaders the confidence to make smart business decisions, every day.