#48 - Sarah Biller, Co-Founder at Mass Fintech Hub and Catherine Lynch, Head of Digital Experience and Human Centered Design at Citizens

The Power of Collaboration in Fintech

In a dynamic conversation on the Slice of Finance podcast, Sarah Biller, Co-Founder of Mass Fintech Hub, and Catherine Lynch, Head of Digital Experience and Human Centered Design at Citizens, shared insights on the evolving relationship between banks and fintechs.

Both leaders emphasized that today’s banking ecosystem must be highly adaptive. Sarah highlighted how the definition of "community" in banking has shifted with mobile technology, making digital transformation not just an option but a necessity. Catherine reinforced this, noting that the goal of digital banking is to deliver simplicity, ease, and security—core customer needs in an increasingly complex world.

Driving Success Through Partnerships

Catherine praised the Mass Fintech Hub’s ability to foster a collaborative ecosystem that brings together fintech innovators, banks, and academia. Successful partnerships, she said, hinge on openness and a willingness to learn from one another. Sarah added that banks must practice patience when working with fintech entrepreneurs and that both sides should prioritize understanding the regulatory landscape to build solutions that are not only innovative but also secure.

The Risk of Falling Behind

Banks that resist these partnerships and technological shifts face significant risks. Sarah warned that customer expectations now include seamless digital interactions, and banks must embrace technology not only for acquiring customers but also for retaining them. The increasing regulatory burden further underscores the value of tech-driven compliance and risk management solutions.

Serving a Diverse Customer Base

Banking presents a unique challenge: it must serve all age groups and abilities. Catherine, who built the user experience team at Citizens, stressed the importance of accessibility in design—ensuring digital tools cater to users with visual, auditory, or temporary impairments. Sarah echoed this, advocating for banks to move from reactive to predictive service models, made possible by the integration of data and personalization technologies.

Opportunities in AI and Embedded Banking

Looking ahead, both leaders are excited about the role of generative AI and advanced data analytics. Catherine sees AI transforming user interfaces and enabling more responsive customer service. Sarah envisions banking becoming a strategic asset for small and medium-sized businesses through embedded finance solutions, creating a two-sided marketplace that benefits both employers and their employees.

Conclusion

The future of banking is undeniably digital and collaborative. Banks and fintechs that foster strong partnerships, leverage AI, and prioritize customer-centric design will be best positioned to meet the demands of today’s diverse and digitally savvy customer base.