Banks Continue to Evolve their Fintech Development

A new survey, sponsored by Temenos and conducted by The Economist’s Intelligence Unit, of bank executives found 54 percent of North American banks plan to increase fintech investment for consumer technology; banks are split on how to accomplish this investment as about half believe they should create in-house accelerators and the other half believe acquisition of technology is the best way to go; open banking is also a big focus for bank executives as they see a trend in data sharing, especially with the European open banking directive driving and consumers supporting this movement; banks are finding that a mix of strategies ca work best as they try to innovate for their customers and compete against a growing ecosystem. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.