FINANCIAL SERVICES
We will see more partnerships emerging And not just partnerships between fintechs and technology providers , but those between incumbents and innovative startups .
In his recent
write up for Forbes , Chad Otar , who is the President at
Lending Valley , Inc , explains : “ Legacy banks and traditional lenders that aren ’ t interested in purchasing
alternative financing companies outright are still going to want to partner with alternative lenders in 2022 .
“ A big part of this has to do with the fact that banks cannot transform their business model from top to bottom overnight because of the regulatory environment they are operating in , but they also want to be able to offer the same kind of solutions and services non-traditional lenders provide .”
Alternative currencies in the form of crypto Indeed , when all these aspects combine , they result in an industry that provides significantly more efficient and cost effective loan disbursement , as well as better customer servicing .
According to Jaro Popowic , Chief Brand Lead at Mercuryo – a global payments infrastructure platform , providing businesses from both the fiat and crypto worlds with a wide range of financial services that are accessible through API integration – digital currencies will
“ AS PROSAIC AS IT MAY BE , WE ARE CONFIDENT THAT CRYPTOCURRENCIES WILL BE ONE OF THE BENEFICIARIES OF THE CURRENT INSTABILITY DESPITE BEING THE HARDEST HIT BY THIS DOWNTURN ”
JARO POPOWIC CHIEF BRAND LEAD , MERCURYO
He adds : “ Banks are going to do everything they can to find ways to fold alternative lending services into their lending menus as much as possible , all while looking for ways to work within their regulatory framework to reinvent and reimagine many of their legacy services .”
72 December 2022