Fintech Accelerators and Incubators: Enemy or Ally for Financial Institutions?
WMA president Scott Mills spoke at the Sawyers & Jacobs 2019 Bank Tech Summit in Memphis, Tennessee about how fintech accelerators and incubators can be of service to community financial institutions. Although the fintechs that come out of accelerators and incubators are often viewed as competition for community institutions, Scott argues that banks and fintechs ultimately need one another. The companies emerging from these programs will be searching for customers and channel partners, and going straight to the source might be a smart strategy for institutions.In this presentation, Scott discusses…
- The difference between fintech and banktech
- The potential challenges of working with fintechs
- How accelerators and incubators can be of service to community financial institutions
- An overview of how accelerators and incubators function
- Ten of the best programs available in the United States
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