Rapid prototyping and an innovation-oriented mindset are two characteristics that make a bank a good fintech partner, according to panelists at the Bank Innovation Ignite 2019 conference in Seattle last week.

The shorter the time a bank takes to work with a fintech from proof of concept to time-to-market, the better, Rob Guilfoyle, CEO of Abe AI, said during a panel on customer experience. Ideally, this should be two to four weeks, Himi Khan of Clinc added.

The innovation mindset doesn’t just refer to a bank’s philosophy towards technology, but also the way in which a bank is internally equipped to facilitate interaction with a potential fintech partner. BBVA Compass, for instance, has opened its APIs to fintechs thus facilitating seamless ways to work with partners.

Meanwhile, players like Mastercard choose to integrate with tech startups through the company’s Start Path program, Karen Pascoe, SVP of Experience Design, Digital Payment & Labs, said. 

“We’re not really designing discrete products that are physical,” Pascoe added. “We are actually designing a servicing experience that goes end to end.”

Watch Pascoe and other panelists address the bank-fintech partnership dynamic in the video below:

The session was moderated by Theo Moumtzidis, Managing Director at Delos Advisors. The session speakers were: Alex Carriles, Head of Online Banking at BBVA Compass; Rob Guilfoyle, CEO of Abe AI; Himi Khan, Senior Vice President, Business Development at Clinc; Karen Pascoe, SVP of Experience Design, Digital Payment & Labs at Mastercard, and Philip Ryan, Director of Communication, CCG Catalyst Consulting Group.