Read McKinsey&Company’s Global Banking Annual Review for 2016. Our favorite part was definitely the mention of the ModoPayments and Bank of America Merrill Lynch collaboration.
“Apart from some Chinese firms, we have not yet seen a breakthrough model for digital attackers. Instead Fintechs and banks are increasingly looking to each other as potential partners. Recent collaborations include Bank of America and ModoPayments; TD Bank and Moven; BBVA and Holvi; and BNP Paribas and SmartAngels, among others. Banks understand that Fintech innovations can help them accelerate their business, and Fintechs see how hard it is to scale up the customer base.”
Read the report here.