BFSI Summit: There's so much to sell, everyone can make money, say experts

Panelists say banks shouldn't feel threatened by fintech companies, rather they should feel enabled

It is important for banks and fintech firms to join hands to marry the data and signals that the latter brings with the balance sheets that the former has to make financial services available to the masses, said panelists at the Business Standard BFSI Insight Summit session on Fintech & Banking Tech.

Panelists agreed on the proposition that the ecosystem needs banks as well as bankers, but it also needs these traditional banks to adopt technological advancements faster, which is where the fintechs come in. The expertise fintechs bring to the table in terms of technology and the domain knowledge banks