Print Page   |   Contact Us   |   Your Cart   |   Sign In   |   Learn More
NAPCP Search
Commercial Card News Brought to You by the NAPCP: Studies and Reports

In the Game: Traditional Financial Institutions Embrace Fintech Disruption

Thursday, November 7, 2019   (0 Comments)
Posted by: Terri Brustad

A Pulse Survey by the Harvard Business Review Analytic Services and Mastercard Incorporated

Traditional financial institutions (FIs) have responded in a variety of ways to industry changes such as new regulations and emerging competition from fintechs. Key strategies they have adopted to date include collaborating with fintechs to tap into their strengths, investing in honing their own digital capabilities in-house, and even acquiring fintechs to make their cutting-edge innovations their own.

As the fintech revolution builds steam, FIs are transforming themselves. They are leveraging new technologies in hopes of delivering the same seamless experiences fintechs have developed to let customers open and manage accounts and pay for goods and services. They are launching digital businesses of their own, from mobile peer-to-peer payment systems to online retail investment platforms. They are rethinking their customer service experiences and designing them from the outside-in. And, they are seeking to move quickly, at scale. 

Members >> Read on to learn more as FIs reveal their view of fintechs as enablers rather than threats. Two-thirds say they’ve already learned from fintechs and adopted some of their strategies. The biggest challenges FIs face in competing with fintechs are explored. Open banking is defined and also expected to drive still more fintech initiatives by allowing third-party developers to build applications and services for customers.

Not a member?
Join the NAPCP today

Sign In

Event Calendar

Part 2: Getting Started on the Right Foot—Gov/K-12 Best Practices Guide

NAPCP Commercial Card Regional Forum - Portland, OR

Copyright © 1999 - 2020 NAPCP - Advancing Commercial Card & Payment Practices Worldwide
Certified Purchasing Card Professional Credential 
The next application due date is Sept. 9, 2020, to take
the exam during the October 2020 testing period.
Executive Summary complimentary fo subscribers and members. Join today to access full report.
NAPCP's dedicated IP address for e-mail is Please add this IP address, and to approved/"safe sender" list to ensure you receive NAPCP news & event notifications. 
You MUST log in to your profile to choose your preferences: Unsubscribe | Choose Email Preferences | Request Removal