Providers have products and services that may be directly purchased by banks to improve their processes or may even operate services for the bank by white labeling the product to improve the offering to their clients. For example, this group includes the startups using artificial intelligence (AI) to enhance the use of data generated by banks, in the case of DILE: “When you want to generate a complete transformation, you have to change many processes from the very beginning and there is where we are. For example, we tell a bank why its on-boarding is not efficient and what the bank has to transform, at the level of the different information technologies to make the bank efficient. This implies to restructure processes and technology within the organization. We make the difference with our own AI engine, making implementations on automatization tools, robotics and new programing paradigms.” E. Marín, co-founder of DILE Institutional conversation, February 12, 2018 Challengers carry out activities that compete with banks and use technology to offer a faster and cheaper service for customers. This group includes entrepreneurs who develop applications that meet the same needs as a financial institution: payments, transfers, investments or credits. “There are two types of FinTechs, the challengers and service providers. Creditas is included in the first group, since Creditas wants a piece of the cake managed by the banks. However, this does not mean they cannot collaborate. Even more, they are required to collaborate.” S. Furio, founder of Creditas Institutional conversation, February 26, 2018 Disruptors introduce technologies that seek to significantly change the industry’s rules of play, such as, for example, distributed ledger technologies, called blockchain that allow for secure transactions without the need for intermediaries. A TWO-WAY PATH 43