Bank-fintech Collaboration: A Systematic Literature Review

The global banking industry, driven by new technologies and changing customer behavior, has undergone major changes unprecedentedly all over its history. As banks contend with innovation challenges in their processes, fintech companies benefiting from digital capabilities, deliver innovative and customer-centric services. In the business world, the collaboration between these two institutions has taken many forms. This has also attracted the attention of the academic community, and several papers have been written in this field. The purpose of this article is to review these articles, and its main question is: What has the scientific literature contribute toward bank-fintech collaboration? To answer this question, a systematic literature review, based on PRISMA Checklist, has been utilized and various specific areas have been examined to understand the necessity, evolution, challenges, drivers, benefits, barriers, and types of bank-fintech collaboration in the scientific articles. The most significant achievements of the articles are discussed in the paper; furthermore, different types of bank-fintech collaboration in the scientific literature are listed, and a bank-fintech collaboration algorithm is presented. Ultimately, the gaps in the literature and suggestions for future research are expressed.