Tripartite Bank Network to Fight Fintechs

Australia's National Australia Bank

Australia's National Australia Bank

A new banking alliance that will enable the sharing of information, innovation strategies and open up networks with start-up partners, has been created by three global financial institutions.

National Australia Bank (NAB) has signed agreements with Israel’s Bank Leumi and the Canadian Imperial Bank of Commerce (CIBC) to form an international banking innovation alliance.

«Everyday new fintechs are challenging the status-quo; we have to not just keep up, but also find ways to get in front,» said Jonathan Davey, NAB Executive General Manager NAB Labs.(pictured)

Jonathan Davey 509

The firms believe the new network will open up opportunities creating the potential for the group to co-develop products and services to enhance customer experiences.

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