https://techmonitor.ai/leadership/could-legacy-banks-fintechs-be-entering-era-of-mass-co-creation

There is rapidly increasing competition from digital challengers focused on specific verticals across the array of products and services that large legacy banks provide. From retail and investment banking to consumer lending and wealth management, a new and growing generation of fintech platforms poses a significant threat to the traditional banking industry’s bottom line.

It might seem that banks are being assaulted on all fronts and need to fight back, but  warfare is not necessarily the answer. Legacy enterprises possess strong advantages that new players don’t – namely, scale, brand awareness, and access to substantial customer data. Can these strengths be put to work in partnership with the agility and customer focus that fintechs bring?