The head of the OCC sees increasing risk in banking as a service.

Fintechs with banker expertise can lend confidence to bank partners, but it must be the right fit.

Acquisitions or partnerships provide a cost-effective, next-best solution for banks that may lack the internal resources or funding to develop cutting-edge technologies of their own.

Fifth Third Bancorp has about a dozen partnerships with fintechs at any given time, and the bank has a few rules that help it avoid missteps in choosing which ones to pursue.

Banks can uncover new revenue sources by working with fintechs – but these relationships aren’t without risk.

Bank executives should keep these key considerations in mind when conducting diligence on potential fintech partners.