There are startups that want to destroy banks and startups that want banks to buy their software, as Bank Innovation has previously reported. According to a recent poll conducted by Bank Innovation, the idea that fintech partnerships will be on the rise in 2019 compared to subsequent years, is gaining popularity.

The poll found that 61% of 106 respondents said they believe there will be more partnerships in 2019 than in 2018. Another 22% believed bank acquisitions of fintechs will be more important than partnerships in 2019. Further, 11% of voters believe fintech startups are just tech vendors to banks. Four percent of voters believe partnerships will remain the same in 2019 as they did in 2018, and 2% believed there will be less bank-fintech partnerships in 2019 than in 2018.

The poll was conducted in January and the full results of the poll below:

As mentioned in a January article from Bank Innovation, the U.S. Government Accountability Office stated that the bank partnership model is one of the most prevalent business models utilized by fintech companies. The agency reported that of the eleven fintech leaders they interviewed, eight of them utilized the bank partnership model.

Ben Savage of Clockwork Technology Ventures said in a recent interview with Bank Innovation that the fintech sector is alive and well. This is clear in the increase in demand of fintech, particularly from regional banks.

As Savage said, “Regional banks are a pocket of innovation because they know their customers better, arguably than the money center banks, and the innovation starts at, ‘What does my customer need?’”

Join us at Bank Innovation Ignite 2019, March 11-12 at the Hyatt Olive 8 in Seattle. Register here.