{"id":17338,"date":"2023-11-01T18:19:53","date_gmt":"2023-11-01T18:19:53","guid":{"rendered":"https:\/\/bulletins.bfconsulting.com\/?p=17338"},"modified":"2023-11-01T18:19:53","modified_gmt":"2023-11-01T18:19:53","slug":"technology-and-fintech-partnerships-continue-to-shape-the-future-of-banking","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/technology-and-fintech-partnerships-continue-to-shape-the-future-of-banking\/","title":{"rendered":"Technology and Fintech Partnerships Continue to Shape the Future of Banking"},"content":{"rendered":"

A recent study commissioned by Temenos and conducted by Economist Impact underscores the urgency for financial institutions to evolve amidst technological disruption, with 79% of survey respondents anticipating that banking will seamlessly integrate into daily life and business operations. Furthermore, 63% believe that technology will be the main catalyst for change over the next five years, with 71% pointing to AI as the decisive factor for success. The report also indicates that 44% of those surveyed expect financial institutions to acquire majority stakes in fintech companies, while 32% predict a market consolidation among challenger banks within the next three years. As one in five banks expect to shift their business models to offer banking-as-a-service solutions in the coming years, it will be important for the industry to embrace new technologies like cloud and AI as well as develop strategic partnerships with fintechs.<\/p>\n

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