More than five years ago, I wrote an article for the ABA Banking Journal outlining my stance as to why financial institutions should embrace working with fintech firms.

As the CEO of a fintech company myself, I can understand why banks may be hesitant or not know how to join forces with firms like ours—especially those that are still in the early stages or actively pursuing their first clients.

However, banks have to continue to drive innovation in their organization in order to compete with direct-to-consumer fintech start-ups and “unbanks.” Which are continuing to raise billions of dollars with the mission of disrupting the banking industry and can bring services to market seemingly without jumping through the same compliance and due-diligence hurdles that slow down the process for banks.

Five years after my original pitch for partnership, more and more tech-driven companies that have not paid their dues in the banking space are continuing to supplant the institutions who have. As you choose your partners, please remember: Not all fintech companies are built the same. There are plenty in the fintech industry who are building FOR your bank and their drive is to add value to your customers and help you compete.

The number of FDIC-insured institutions in the U.S. dropped 19 percent over the last five years, and 35 percent since 2010. To remain competitive and ensure longevity in a market that gets more cutthroat by the day, banks must invest in innovation and find the fintechs that want to build mutually beneficial partnerships.