FINTECH
“ I would argue that collaboration is the new competition ,” says Sonea . “ Before fintech you had a handful of providers — mainly banks — and a handful of technology companies serving those companies . Fintech now has resulted in massive disruption that has spawned thousands of providers , often specialists in payments , lending , credit etc , who are themselves served by specialists . BaaS also means that fintechs can get tech from some firms , and then ‘ rent ’ the licenses from BaaS providers .”
She concludes , “ With such a diverse pool of potential partners , it will be the fintech that collaborates best that will succeed .”