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Building Credibility with Banks in the FinTech Space
The chapter emphasizes the significance of credibility and trustworthiness for fintech companies when engaging with banks, drawing on experiences from Monzo. It examines the evolving nature of bank-FinTech partnerships, focusing on compliance tooling and the potential implications of banks taking over compliance checks from FinTechs. The dialogue also explores the impact of AI in banking operations, discussing concerns around discrimination risks and decision-making based on flagged accounts.