The Incumbents Role in Today's Landscape - A 20 minute session with Nordea's Su Yin Ong
Often when we talk about Fintech’s and Banks, the narrative has often mirrored the fable of David and Goliath. The small, agile Fintech was positioned as David; and the large often oligopolistic banks were Goliath.
But that narrative is changing, as the Fintech’s, who leaned on such a positioning in the past, mature, and the Incumbents become more savvy as their market-share is challenged.
Earlier in the decade “the death of banks” was a common topic, yet today the future looks more complex than that. M&A’s and partnerships are becoming more commonplace, and with Europe’s Open Banking Initiative and BaaS and SaaS solutions we believe collaboration is key to future success for both Banks and Fintechs.
We caught up with Su Yin Ong, who works in M&A partnerships for one of the largest Nordic banks, Nordea, to hear about her experience and the developed of the landscape.