Traditional financial institutions (TradFis) have spent the last decade playing various roles in the fintech space — including partners, customers, acquirers, and (less frequently than many predicted) victims of fintechs’ success. Now fintech companies themselves face existential threats, forcing changes in how they operate. What are TradFis doing in this shifting environment, and (more importantly) what should they do? Technology and business leaders at TradFis can use this report to understand how these shifts will affect their own firms, and what they should do to take advantage of emerging opportunities.