Plus; FedNow is finally live, Goldman profits down, Bunq raises, Fintech profits up but Fintech funding is "down 48%" QoQ?
Relationships are everything! This is so true. In my experience (currently working on implementing a pilot mvp with a bank) it’s a fine balance of understanding the constraints and associated delays, building the key relationships and working together towards pathways to implement. But, as you highlight, credibility is key and ability to deliver is the cornerstone.
Great read, Simon!
selling into big banks is tremendously hard and your outline was spot on. If you want to go fast go alone, if you want to go far travel in a pack! i'm working to get my organization to push further on who we should be partnering with to broaden what we together bring to the market
Great article. I consult with corporates on improving their innovation programmes but the second most common conversation I have is with tech companies who have done their $50k paid pilot and wonder why it can’t scale. I give very similar advice to you, except I say “everyone’s in the race to be second” instead of “be first to be third” and talk about co-opetition instead of frenemies.
Love the GS insight. So much personality in those decisions.
Man, the note about a POC budget was spot on. We were able to move our close rate from 6 months down to 1 month just by focusing in on a 30 day POC! Great stuff Simon!