Fintech perception of cooperation or competition with banking

Abstract

Over the past few years, significant industries have modified their operation mode in the markets due to the substantial emergence of information technologies. The changes occur in the interaction with customers, production processes, or implementing strategies. The banking sector is not an exception, and this study focuses on the digital transformations of banks. This paper aims to understand how financial organizations in Portugal are changing to remain competitive while implementing information technologies. The purpose is to study a fintech, that emerged due to the digital transformation of the bank sector, and to understand its relationship with traditional banks, whether it is of cooperation or competition. This case study follows a qualitative methodology based on a semi-structured interview with the CEO of the fintech company nBanks. The fintech companies and banks can collaborate and work together to develop the financial market in Portugal. The relationship between them can be of cooperation instead of competitiveness.