U.S.: fintech-bank partnerships for growth

Based on a survey carried out in September 2021, 44 percent of credit unions and 26 percent of banks in the United States saw fintech partnerships as a strong driver of growth. In addition, more than half of the respondents from both credit unions and banks considered partnering with fintech companies to be a moderate driver of growth. Only four percent of the credit union respondents did not see fintech partnerships as a driver of growth. Skepticism towards partnering with fintech companies to achieve growth was higher among the respondents from banks, as 16 percent of the bank executives did not see partnerships as a driver of growth.

Fintech partnerships as a driver of growth for banks and credit unions in the United States in 2021

Characteristic	Strong driver of growth	Moderate driver of growth	Not a driver of growth
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Release date

January 2022

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Region

United States

Survey time period

September 2021

Special properties

290 U.S.-based senior bank and credit union executives

Supplementary notes

This question was phrased by the source as follows: "To what extent does your organization see fintech partnerships as a driver of growth for the next few years?"
The source did not provide information regarding the survey type.
The source adds the following information: "Among the respondents, 58% were from banks, 42% from credit unions. Roughly one in five respondents was from an institution with assets between 250 million and 1 billion USD, 35% were from institutions with 1 billion to 3 billion USD in assets, and almost one in five was from an institution with 3 billion to 10 billion USD in assets."
The research was commissioned by Synctera.

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