BFSI Insight Summit: Banks and fintech firms must coexist, says Aditya Puri

Adds financial services sector has potential to leapfrog competition

Banks and fintech firms will coexist in the future and grow through collaboration, and there will be space for everybody, said Aditya Puri, former managing director and chief executive officer of HDFC Bank, on the fifth day of the Business Standard BFSI Insight Summit.

“As far as fintech and banks are concerned, each will have niche markets, and each will have partnerships. Collaboration always wins, teamwork always wins,” Puri said in his keynote speech.

“And the fun will start when open banking comes in because then a lot more data will be available. The winners will be those who know