Banks and financial and technological companies: competition and ways of interaction

Fintech companies have had a significant impact on the financial market in recent years. Their appearance at first might seem like an invasion. Fintechs brought successful projects to the market without having a large staff of employees and offices, while projects of this content previously belonged exclusively to the banking industry. Fintech companies are currently seriously competing with classic banks, offering customers greater convenience and mobility compared to banks, and, most importantly, competitive prices. In connection with the foregoing, in this article, the author made an attempt to scientific analysis and critical understanding of competition and ways of interaction between banks and financial technology companies.