Banks, insurance companies and other financial institutions are providing more and more of their financial services online to compete in today’s digital economy. In many cases, this is accomplished through websites and mobile apps that the financial institution develops and operates itself. However, as fintech companies create online platforms with features and functions that today’s customers prefer, we are seeing financial institutions increasingly contract with fintechs to act as online intermediaries to serve and interface with their customers. These platform arrangements present unique issues for both the financial institution and the fintech as they attempt to align sometimes divergent interests to achieve a successful outcome. Listen to this episode of Mayer Brown’s Tech Talks podcast as Brad Peterson, Joe Pennell, Rohith George and Julian Dibbell discuss the hot topics regarding negotiations between financial institutions and fintechs on these transactions.
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