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With banks and credit unions prioritizing deposit growth, loan origination, and cost efficiencies, fintechs should align their value propositions accordingly, says Cornerstone Advisors.

"Stripe has been a fintech unicorn for years now and I don't see that slowing down as they continue to grow," said Tony DeSanctis, a senior director at Cornerstone Advisors.

The most recent data from Cornerstone Advisors indicates that digital banks/fintech firms, megabanks and large regional banks (over $100 billion in assets) collectively opened 87 percent of all checking accounts in 2024. Banks under $100 billion accounted for only 4 percent of total accounts opened.

"Apple, [Samsung and Google] are also trying to own this space," said Tony DeSanctis, a senior director at Cornerstone Advisors, noting that Apple, Google and Samsung's digital wallets have global consumer and merchant networks that have similar size as the card networks. "It certainly makes competition more difficult. More than payments, this is about scale."

Ron Shevlin, chief research officer at Cornerstone Advisors discussed with me the gloomy outlook of the US banking industry, highlighting the impact of regulatory pressures on banking operations.

"Apple, [Samsung and Google] are also trying to own this space," said Tony DeSanctis, a senior director at Cornerstone Advisors, noting that Apple, Google and Samsung's digital wallets have global consumer and merchant networks that have similar size as the card networks. "It certainly makes competition more difficult. More than payments, this is about scale."

Cornerstone Advisors recently released its 2025 report, What’s Going on in Banking 2025: Happy(er) Days Are Here Again.

Ron Shevlin, chief research officer at Cornerstone Advisors, was among the leading industry figures Team8 partnered with to curate a comprehensive roadmap for fintech innovation focused on fraud prevention.

"With many smaller banks, it's an extension of a relationship they already have, sort of a value-ad," said Jessica Pinkston, a senior director at Cornerstone Advisors, adding it's common for community banks to use large banks such as Wells Fargo to execute wire transfers.

"Talk about the credit card in the context of the consumer’s overall relationship with you," says Tony DeSanctis, senior director at Cornerstone Advisors. "Bundling can make it unnecessary to match rewards with the giants. If they already bank with you, the tie goes to the runner."