Aug 3, 2021
In the brave new world financial services, there are opportunities for both innovative companies and traditional banks, but they need to understand one another if they want to thrive, says Joyce Mehlman, the founder of iLex Consulting Group.
Fintechs need to understand the difference and relative value of Banking as a Service versus a direct issuer model of working with banks. Traditional banks need to understand where Fintechs offer more in terms opportunities than competition, she says.
We also discussed how the latest group of Fintechs and their founders are different in that they are more focused on building a business long-term than they are in building up a company that can be sold.