The FinTech Impact Report: Working through the world’s to-do list #FinTechforPartnerships PARTNERSHIPS The depth impact of FinTechs has been shown across the 5 key categories of people, planet, place, productivity and peace. However, the data shows FinTech can lack the scale and reach for its impact to have meaningful effect. Partnerships are a key solution to this challenge – they can bridge the innovation of FinTechs and the greater customer access of traditional financial institutions (FIs). FinTech & Enterprise Partnerships: Established in 2011, Accenture’s Fintech Innovation Lab (FIL) runs across 3 continents 70% of FinTechs score 66% of CEOs say their and has over 280 Alumni to its name, with an estimated 90% still trading. By forging low or very low on companies are partnerships between early stage FinTechs and Enterprise clients, solving their most pressing challenges, the Lab addresses the trend forecast by Accenture’s 2023 effect, indicating that engaging in long-term Banking Trends(4), that FinTech is shifting from a disrupter to an enabler for Enterprise, scale is the greatest strategic partnerships with merger and acquisitions likely to rise in-light of reduced valuations. Built on an specifically to build ecosystem of industry experts, and constantly driving to improve Inclusion, Diversity & barrier to their Equality amongst Founding teams, it’s an example of how industry collaboration can delivering their resilience in the context drive impactful sector growth through effective B2B partnerships. 97 of the SDGs99 impact Marketplace solutions: While it is tricky to balance customer needs and partner propositions, a number of banks have built out marketplace offerings that open up ~$4.2bn in global 89% of FIs considered indirect services to customers and offer FinTechs access to bigger user bases. FinTech investments FinTech partnerships to Examples include Starling and PensionBee for retirement planning, and TSB and ApTap for subscription management. were made by the six be important to their largest UK banks business, up from 49% Partnering for Success: Aligned with it being one of FinTechs greatest areas of between 2018 and in 2019. Those that said impact, digital infrastructure – including payments and account management – has been one of the biggest partnerships areas for enterprise and UK FinTech e.g. Form 3 2022, with $2.7bn of it is ”very important” and Thought Machine. Elsewhere, research in the US points to the biggest areas of this going to UK rose from 21% to 48% 100 impact of FinTech Partnerships being Loan Productivity and Account opening. FinTechs98 51