From ego-system to ecosystem, a story of fintegration

Many FinTech players deliver clear value in specific use cases but lack scaling opportunities, while customers increasingly look for comprehensive solutions. This results in shifting profits and doubts about the future for certain champions. Large incumbents value their scale as a starting point to orchestrate ecosystems, yet often lack the skills to do so. Collaboration with the FinTech community has emerged as the most effective approach to delivering innovation. A shift in collaboration frameworks is now emerging, bringing in new skills, new ways of operation and new resources. This creates a completely new ‘Fintegration’ landscape, with new approaches to partnering and alternative business models. While some disruptors still aim at capturing customer relations from banks, more are today seen as innovation partners

Oliver Denecker, McKinsey & Company