Video: 15 minutes with Citizens Bank - Success with bank/fintech partnerships

Bobsguide sat down with Citizens Bank's Nikolas Casagrande to discuss best practices when adding external services

by | July 7, 2022 | bobsguide

In this first episode of 10 Minutes with, Nikolas Casagrande, VP of digital innovation and strategy at personal and business banking specialist Citizens Bank, sits down with bobsguide to discuss the ins and outs of using fintech partnerships and delivering innovation at scale.

With the next iteration of the EU’s open banking directive, PSD3, now on the horizon, and numerous open finance pieces of legislation in the works in the US, it has never been a more favourable time for banks to open their ecosystems to external partners – recent examples of successful collaborations cover areas including payments, wealth management and financial planning solutions, ETFs and crypto wallets, among others.

But the potential for fintech partnerships to address banking consumers’ needs through things like predictive analytics, recommendation engines and smart data collection is vast, with the industry in 2022 just scratching the surface.

Fintech partnerships move from nice-to-have to necessity

Far from a pure necessity to preserve and attract a tech-savvy user base, such partnerships can be used to increase customer loyalty, improve data collection, foster innovation and meet new and evolving user needs.

But how can CTOs and heads of innovation keep open banking projects within scope, achievable and scalable, whilst managing expectations on both sides of the integration? What are the key questions that the due diligence process needs to address in order to ensure a reliable and long-term partnership?

Bobsguide sat down with Nikolas Casagrande, VP of digital innovation and strategy at US consumer and business bank, Citizens Bank, to discuss these questions and more.

More: How fintech parnerships can help banks unlock commercial lending

 

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