When the wave of new fintech startups burst onto the scene several years ago, announcing themselves loudly as disruptors of the banking industry, bankers rightfully worried. How would these new players affect day-to-day business? How would they be received by customers? And, importantly, how could banks keep up with the pace of the competition? Time and reality have since set in, and the tone of the conversation has shifted away from "compete" toward "collaborate." Banks increasingly see the value of capabilities developed by fintech firms, and those companies in turn are becoming better acquainted with the challenges of regulation and other barriers to bringing their products to market.
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