In the aftermath of the global financial crisis, fintech companies burst onto the scene with a dizzying array of exciting new products and services. While fintechs are perhaps best known for designing online and mobile applications that make it easy for consumers and small businesses to make payments and apply for financing, they also have introduced underwriting tools that help banks expand credit availability.
Rather than viewing banks as competition, many fintechs have elected to work closely with banks on new product offerings.
