From a fintech’s point of view as well, partnering with a large incumbent institution can be of significant value. Iana Dimitrova, Chief Executive of OpenPayd, explains: “From the fintech side of things, we absolutely believe in the value of collaboration. The fact is that we can qualify OpenPayd
as a fintech – we are a digital banking-as-a-service provider for corporates and as such we still rely very heavily for access to the traditional payment rails to banks. From that perspective, I think that collaboration is absolutely key – not just for the development of the fintechs but also for delivering service to our customers, whether that is consumers or corporates.