Community banks and small regional banks say that working with fintechs has become essential to their businesses in order to keep up with large banks and innovation; with more customers going online when it comes to their finances banks need to ensure a seamless digital experience; a new paper from Finastra underscores the point saying younger consumers also prefer more personalized services and user-friendly applications; 86% of senior management professionals responding to a survey said that partnering with fintech firms is “absolutely essential” or “very important” for their company’s long-term growth and development; fintechs also find the partnerships beneficial through scale and affirmation of their products. CrowdFund
