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Partnerships between traditional, often times small, banks and technology companies have helped drive the recent fintech boom, as many of the tech companies lack licensing needed to offer banking services. So reports the Los Angeles Times.
Services the banks help fintechs to offer include credit cards, checking accounts and regulatory work. Some of the fintechs have opted to partner with many small banks, while others prefer one large bank.
Click here to read the full article from the Los Angeles Times.