FinTechs – A Way to Renovate the Financial Service Industry? A Study of Strategic Cooperation Methods and Motives between Traditional Banks and FinTechs
FinTechs - new technological developments devised to ameliorate the delivery and usage of financial services - are disrupting the financial services industry. The business model of traditional banks thus confronts the challenge of adapting to the dynamic circumstances and digital transformation shaped by new market entrants and higher customer expectations. However, the persistence of traditional