Research suggests that banks already maintain an average of 9.4 fintech partnerships and spend roughly US$378 million per year on digital transformation. Yet many of these collaborations have failed to deliver lasting value - often because of vague goals or unclear performance metrics. If banks and fintechs want to unlock the next wave of innovation, they must rethink how they work together. The first phase of partnerships Early relationships between banks and fintechs resembled vendor contracts, where f ...