Partnerships Related To Open Banking Are the Most Sought After in H1‘21 by Fintechs and Corporations
Positioned as the place-to-be for global networking between corporations, investors and fintech, proptech, insurtech and many other ‘xtechs’ worldwide, Finnovating has launched a pioneering report that collects the TOP 200 collaboration agreements that took place in the first half of 2021, between fintechs and corporations. Owning the concept of ‘matching as a service’, the global platform aims to drive innovation in the financial ecosystem by encouraging the different players involved to collaborate in transformative partnership solutions.
“At Finnovating we have been seeing for many years that collaboration between the xtech sector and large corporations is completely necessary. Some call it open innovation, others open banking, and others simply a way to speed up digital transformation and the arrival of new customers,” explains Rodrigo García de la Cruz, CEO at advisory firm Finnovating. As a result, the X-Tech Matching Report 2021 H1 provides insightful information about a range of partnership behaviours worldwide throughout the first half of the year 2021 in the fintech ecosystem.
The main conclusions of the report show that the most sought-after activities and the largest collaboration agreements in the first half of 2021 are those related to open banking, followed by buy now, pay later (BNPL) for their momentum and by sustainability investments. Moreover, in terms of most active countries, the UK and the US take the lead when it comes to fostering collaboration agreements between xtechs and corporations.
The report features most of the top-level companies and concludes that the most active corporations were payment institutions and banks, where Mastercard, VISA and BBVA take the lead. Regarding FinTech activity in collaboration agreements, the open banking fintechs Tink and Plaid are on the very top of the most active ranking.
Finnovating, as a global B2B platform, aims to reinvent the way of connecting and doing business. “The environment requires us to change the way in which we create value for our clients and, for this reason, collaboration is more important today than ever,” concludes Rodrigo García de la Cruz.
Article published in: The FinTech Times