Unlocking Financial Innovation: A Comparative Analysis of Bank-Fintech Synergies and Emerging Challenges

Abstract

This research explores the strategic advantages of collaborations between banks and fintech firms, focusing on their impact on innovation, operational efficiency, and customer experience. Uniquely, it combines Critical Discourse Analysis (CDA) and Comparative Analysis to investigate not only structural and strategic outcomes but also the narratives that shape these partnerships. This dual-method approach provides a novel lens to assess how language, power dynamics, and organizational discourse influence collaboration success. The study finds that prevailing narratives often emphasize innovation, disruption, and mutual benefit, but also reveal underlying tensions rooted in differing organizational cultures and priorities. Successful partnerships exhibit clear strategic alignment, effective governance, and open communication, leveraging fintech agility and technological prowess with banks’ regulatory knowledge, infrastructure, and customer trust.Conversely, failed collaborations frequently suffer from cultural misalignment, conflicting goals, and integration issues, limiting their ability to deliver value to stakeholders. These findings underscore the importance of not only structural
compatibility but also discursive alignment. The research concludes with an actionable roadmap for both banks and fintech, emphasizing the need to align strategic goals, foster transparent communication, and implement strong governance frameworks. This study contributes to the evolving discourse on financial innovation by illuminating both the practical and narrative dimensions of bank-fintech collaborations