Treasury

4 Questions to Consider When Evaluating Banking Solutions

Traditional financial service providers are pursuing working relationships with fintech competitors—leading to a state of coopetition that can deliver significant benefits for your business through customizable, best-in-class digital banking solutions. As you explore your evolving options in this space, here are four questions that can help you identify your ideal provider.


Traditional financial service providers are pursuing working relationships with fintech competitors—leading to a state of coopetition that can deliver significant benefits for your business through customizable, best-in-class digital banking solutions. As you explore your evolving options in this space, here are four questions that can help you identify your ideal provider.

Fintech companies are leading the way in banking innovation, creating digital-first offerings that prioritize user experience and ease of use. Now, many traditional financial institutions are working with fintech firms in a state of coopetition, or cooperation between competitors in the hopes of achieving mutually beneficial results. This means businesses like yours have increased access to the latest technology—with solutions that could help you save time and money, stay competitive in the marketplace and achieve your goals with more efficiency—in addition to a banking relationship that understands your challenges and how your back office processes relate to your overall strategy.

Given the introduction of these new hybrid partnerships, now is the time to review your current banking solution and ensure it’s meeting all of your needs. Here are four questions you can ask to help evaluate current and potential banking providers.

 





A Dedicated Coopetitioner

As a firm, we engage with hundreds of fintech companies to ensure our solutions address your specific challenges. For Chase Cashflow360SM, we’ve partnered with Bill.com. The result of this collaboration is a digitized payments system that automates accounts receivable and accounts payable processes while vastly improving workflow efficiencies.

Learn more about what Cashflow360 can do for you.

 

1 Association for Financial Professionals’ 15th annual Payments Fraud and Control Survey

2 Globe Newswire Release for Research and Markets, Dec. 17, 2018

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Stephen Markwell, Head of Treasury Services Product Strategy, JPMorgan Chase Commercial Banking

Stephen Markwell

Stephen Markwell, Head of Treasury Services Product Strategy, JPMorgan Chase Commercial Banking

Stephen Markwell is the head of product investment strategy and fintech partnerships for Commercial Banking. He is responsible for creating and executing our product investment strategy as well as evaluating and sourcing fintech partners that address our strategic priorities.

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