How Fintechs are Aiding the Strategic Renewal of Banking and Financial Services When Climate and Corporate Governance are Centre Stage?

Abstract

Banks and financial institutions have been experiencing slow growth after the financial crisis due to loss of trust, regulations, changing customers and digital disruption unleashed by fintechs. While the emergence of fintech is a global phenomenon, we are starting to see some standout banks collaborating efficiently with them to help self-renew themselves and, in turn, win back customers, improving margins, bolstering growth aided by data insights, simplifying operations and acting with speed to customer requirements. Enhancing scope and scale at speed supported by fintech collaboration is helping these banks to manage better uncertainty, front load benefits to end consumers, orchestrate capabilities, manage change and navigate the complexity associated with climate and corporate governance actions.