Throughout this discussion, insightful perspectives have emerged. In essence, banks and fintech are unlikely to be adversaries in the next 3-5 years, primarily due to scale and regulation.
Fintech startups boast advanced technology, while banks excel in regulatory compliance. This symbiosis has enabled banks to withstand disruption for a considerable period. Regulatory hurdles make it challenging to disrupt the banking sector.
Unlike many industries, banks have the opportunity to respond proactively, acknowledging the importance of collaboration to avoid being left behind. Until fintech firms achieve greater scale, partnerships with banks will persist. Fintech startups serve as valuable additions, offering utility and adapting to evolving consumer needs.
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