The banking industry is ongoing a “fintech revolution” where the competitive advantages of the incumbents are disrupted by digitalization, the emergence of startups and regulatory changes. In response, banks have begun collaborating with startups by organizing accelerators and incubators to promote corporate innovation. The process is not without its challenges, and critical questions remain unanswered; How do different collaboration models with fintech startups help incumbents achieve a strategic fit? And furthermore, how should these models be applied in times of disruption?
Adrian and Mikko get to the heart of the matter through a case study of a large retail bank in the Nordics.