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Charles Potts: Assesing potential fintech partners

Independent Banker

Photo by Rido/Adobe Maximizing each step in the innovation journey, including the fintech evaluation process, will set you on the right path to a fruitful fintech partnership. By Charles Potts, ICBA When it comes to innovation, understanding how we do it may be even more important than why.

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Banks Should Look Within for Fintech Entrepreneurs

Bank Innovation

Banks spend a great deal of time, money, and energy building technology to compete with fintech companies, but the CEO of innovation software maker Spigit has a message: Don’t bother. “You’re too late,” Spigit CEO Scott Raskin told Bank Innovation, referring to the banks.”By Why is that?

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For FinTech And FIs, APIs Everywhere (It Seems)

PYMNTS

To that end, collaborative efforts between banks and FinTechs are on the rise, where joint programs seek to hasten the availability of technology that dovetails with open banking. The company has invited FinTechs and other entities, including “established players,” to work with Deutsche.

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Main Street?s Digital Shift, ATM Innovation, PPP Loans Top This Week?s News

PYMNTS

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. FIs Or FinTechs: Who Will Power Banking’s Big Digital Shift? The pandemic has sped up the digital roadmap for everyone in financial services, providing for more innovation in the last few months than had been seen during several years.

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Deep Dive: How FinTechs Harness Machine Learning To Approve SMB Loans More Quickly And Safely

PYMNTS

million SMBs operate across the country and account for 64 percent of new jobs. Only 35 percent of such businesses make it past their first decade in operation. Many FinTechs are using these ML applications to accelerate their financing approval processes. FinTechs that harness ML to process loan applications were approving 57.2

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Helping FI’s Develop Their ‘FinTech Sense’

PYMNTS

The problem often stems from the environment in which they are operating — one that can put the brakes on innovation, even when innovation is key to thriving. As Owens put it during the PYMNTS podcast discussion, referring to the services that underlie those efforts, “Do you buy it, build it yourself or partner with somebody?”

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In Financial Services, Innovation Versus Inertia

PYMNTS

In an interview with PYMNTs after a webinar by the pair titled, “Financial Services Innovation — The Risk of New vs. Nothing,” John Epperson, principal at Crowe Horwath LLP, and Jason Henrichs, managing director at FinTech Forge , discussed the challenges and rewards of embracing change, even as firms are mindful of what works.