The rapid development of information and communication technologies has influenced the growing importance of technology companies. Their interest was particularly attracted by the financial services market, especially in the field of payment and credit services. Since the operations of these companies are not subjected to the strict regulation normally afforded to banks, they have a huge competitive advantage over banks from the start. Developing new financial services based on technological solutions, these companies first reach those customers who are not accessible to banking services for various reasons: price of the service, insufficient creditworthiness, remoteness of the banking network. Over time, expanding the scope of their services, these companies gradually take over the customers of the banks, thereby becoming a threat to preserve the competitive position of the banks. The further survival of banks is conditioned by their complete digital transformation or by entering into various forms of cooperation with these companies. The article presents the comparative advantages of large banks and financial technology companies so that they can take advantage of synergistic effects through various forms of cooperation.