Tips on partnerships for Fintech startups

Tips on partnerships for Fintech startups

21 Dec 2021
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Bolun LiBolun LiCEO and Founder at ZogoJehan Luth Jehan Luth CEO and Founder at BANYAN

Luth has a background touching receipt level data from multiple verticals. He worked in CPG while at Campbell's Soup and FinTech/OCR while building receipt capture apps for clinical trials at Med School.

Kimberley KirkKimberley KirkExecutive Vice President and COO at Queensborough National Bank & Trust Co

Kimberly Kirk is Executive Vice President, Chief Operations Officer for Queensborough National Bank & Trust Company, a $1.8 billion financial institution based in Louisville, GA. In her role, Kim is responsible for Information Technology, Information Security, Project Management, Business Intelligence, Core Solutions, Deposit, Cash Management, and EFT Operations, Retail Operations, and Product Management. She began her banking career as a bank examiner for the State of South Carolina regulating state-chartered banks and trust companies before transitioning into community banking in 2002. Kim worked with four de novo banks prior to joining Queensborough in various finance and operations capacities.

Kim earned her Bachelor’s degree in Business Administration from Furman University, her MBA from Clemson University, and is a graduate of the American Bankers Association’s Stonier Graduate School of Banking. Kim is a member of the ABA Core Platforms Committee, the ABA Community Bankers Council, Immediate Past Chair of the Georgia Bankers Association Operations and Technology Committee, and a member of the Community Bankers Association of Georgia’s Innovation Committee where she is engaged with the Advanced Technology Development Center and Georgia Fintech Academy.

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Description

In recent years, an increasing number of banks have teamed up with Fintech companies to improve the digital client experience. Fintech firms offer the digital competence that banks won't, but to deliver effective solutions these emerging alliances will require more extensive planning.

Table Of Contents

What makes partnering with Fintechs so valuable for banks?
Banks began looking for more innovative solutions as a result of the digitalization wave accelerated during the pandemic. Fintech firms have the digital knowledge that banks require, and they're ready to adapt quickly and easily. However, this type of collaboration will necessitate more careful planning. Li and Luth, two Fintech leaders, respond to the subject of what makes banks-Fintech partnerships so valuable.
Tips on successful bank partnerships for start-ups
Fintech companies could provide different solutions, but the key is to choose the proper partner and product. Kirk points out the significance of defining specific obstacles and gaps. Fintechs who provide customised solutions for various FI's needs is the ones that will fill the void.
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