Methodology: 182 fintechs reported subscription revenue as their primary source of revenue and it was common among firms offering accounting & budgeting, digital banking and account/API aggregation services. Fintechs have their traditional revenue models through commissions, transactions, affiliation and interest when they are offering financial services like payment, digital banking or lending services, however a large number of fintechs (268) have ‘Unknown’ as their revenue model which reflects the value created through collaborations. Since the openbanking standards enable the fintechs to collaborate with banks as well as build products using bank APIs, the revenue generated is shared among the fintechs and the banks. This could be a combination of different revenue streams depending on the service which could range from commission-based, freemium and data-analytic sales.