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South Florida Banking Institute: Partnering with Fintechs: How Banks Should Approach Incorporating New Technology Into Their Institutions

In just the past few years, the financial services landscape has changed dramatically with the introduction of new financial services providers like virtual banks and neobanks. We have also seen the development of new technologies, like blockchain, that have allowed for the rapid advancement of banking processes. To keep up with the rapid changes in the banking world, financial institutions are partnering up with fintech’s to bring cutting-edge solutions to their customers. While the neobanks and virtual banks have deep VC pockets and the large banks have almost unlimited budgets, small and medium-sized banks must make sure they spend their innovation dollars wisely and partner with fintechs that can provide solutions that will allow them to compete and win in the new digital economy. Our panel of experts will discuss what criteria banks should utilize when deciding which fintechs they should partner with so that they can grow assets and market share in this extremely competitive environment.