Home French banking sector Overview Marie-Anne Barbat-Layani at the Fintech Summit : « Fintech and banks must work together »  
 
 
 

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04 may 2016

Marie-Anne Barbat-Layani at the Fintech Summit : « Fintech and banks must work together »

Marie-Anne Barbat-Layani, CEO of FBF, attended the Fintech Summit 2016 in Paris, on Wednesday, May 04 2016

 

At the event, she underlined that banks are now fully into the digital era. Digitalisation paves the way for improving the customer experience and technological innovations they expect. Banks have already anticipated these changes and have started this revolution. With the advent of smartphones, everyone has the services of his bank in his pocket.



Banks are at the heart of an ecosystem that is conducive to innovation and fintechs and contribute in different forms:



  • Via ad-hoc structures : banks are creating technology hubs oriented towards fintechs
  • Through financial innovation: exchange workshops between fintechs and banks that define the key issues
  • Creating a framework for cooperation on a voluntary basis: the government project "alliance for open innovation" which offers voluntary companies to share their innovations.

The real debate is about how the fintech environment should interact with traditional financial institutions. Banks consider that a partnership between the two is necessary to improve the whole financial ecosystem and to open up new opportunities: fintechs can benefit from a strong structure for developing their activities while banks can take advantage of the high reactivity of fintechs and can quickly develop new services.


To conclude, Marie-Anne Barbat-Layani asserts that "banks have a real desire to work with fintechs. This cooperation can truly be considered a win-win relationship based on 2 conditions : partnerships cannot operate without mutual trust and competition is healthy only if the players follow the same rules in regulatory matters."



 
 
 
 
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