The emergence of fintech companies has disrupted the financial landscape, challenging the dominance of traditional banks. Fintech firms aim to compete by providing intuitive, simple, and efficient applications that prioritize customer experience. This article explores the competition dynamic between fintech and banks, highlighting the dual nature of fintech as both a threat and an opportunity for banks and the strategic approaches taken by them to collaborate, acquire or compete head-on with fintech start-ups. The profitable alliance between banks and fintech is also discussed, emphasizing the strategic collaborations that drive innovation in the industry.