The incumbents cunning plan
is described in a very fascinating article, where the contemptuous view of Fintechs towards established financial institutions is debunked. Probably not necessary, now that we’re seeing cash starved fintechs collapse into the waiting arms of incumbents, but still excellent. About a six minute read.
Comment: the attitude of many fintechs towards entrenched start ups is well document and unnecessary. Sure, rivalries exist. But considering most fintechs have market caps that are rounding errors on incumbents balance sheets suggests the arrogance is misplaced.