Why Fintech partnerships are mandatory for Banks / NBFCs?

Banks have been focusing on delivering results through their employees for all these years, They have partnered with DSAs, Payments Gateways / processors,software vendors etc in this endeavor.

Fintechs are new partners onboard, who can help in improving the business model by:

– Getting banks access to newer customer base (digital ones for sure)

– Getting them comprehensive customer data

– Helping in creating newer products / services (Zestmoney for RBL / DCB)

– Getting them more transactions (Phonepe for Yes Bank)

Irrespective of the above benefits, Fintechs help in:

– Giving new digital vision to Bank leadership (that Digital can work)

– Pushing business bank teams to think differently as their conventional approaches get challenged

– Pushing tech teams to rethink what they can do (from support roles to transformation roles)


Digital Transformation – Nimble, Simple, Real… and Frugal too…

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