As long as banks have existed, they've deployed innovative technology to better serve their customers and improve efficiency. On the latest episode of the ABA Banking Journal Podcast--sponsored by CSI Fintech Focus --two leading bankers discuss distinct approaches to partnering with fintech firms today.

At Lincoln Savings Bank, Mike McCrary leads fintech partnership efforts--and this more-than-century-old Iowa agricultural bank serves as bank of record for several fintech firms, including Acorns, Square, Money Lion and Qapital. LSB has flipped the script as a vendor to fintech companies. McCrary discusses how these partnerships bring in additional insured deposits in a time of heightened competition, as well as drive non-interest income. 

Christopher Maher of OceanFirst Bank discusses his bank's partnerships with fintech companies to speed up mobile account opening and enhance investment choices in its trust/wealth management offering. He outlines considerations banks should make when developing a fintech partnership, including how to identify which functions potential partners can best perform and how to structure partnerships in a way that preserves the franchise value of the banks. Listen to this episode.