Reducing Time to Market and Accelerating Time to Revenue
African FinTechs present a significant and immediate growth opportunity. FinTechs have the market and technology knowledge needed to identify and realize a deep and wide-ranging set of payment opportunities. A major obstacle to realize this opportunity is the issue of onboarding, specifically reducing the time it takes to bring a FInTech to market and generate revenue.
Onboarding is challenging because it is difficult to gain and sustain alignment among the stakeholders: payment network, BIN sponsor, processor and FinTech. It is challenging because the onboarding process is multi-functional: technical, operational, financial, marketing, regulatory and compliance issues have to be addressed in a coordinated manner otherwise milestones are missed and products launches are late.
Those challenges present an opportunity as well. The companies that are able to solve the onboarding challenge will gain a significant competitive advantage. That means more partnerships more revenue, more quickly.
To address the onboarding challenge BialekGroup has developed The Accelerator, a service that focuses on successfully managing the key onboarding drivers:
Business Model - Verify that the use case is feasible and creates sufficient value for all stakeholders to achieve their financial goals. If any one of the stakeholders is losing money the program is not sustainable.
Financial Model – A financial model that is comprehensive encompassing the full program P&L. Too often FinTechs and BIN sponsors are surprised by unexpected expenses. These surprises cause delays and reduce confidence and trust n the process.
Compliance/Regulatory – Ensuring the correct licenses and commercial agreements are in place. Many times these requirements are identified after an onboarding has begun. This late identification is another source of costly delays.
Technology - A shared understanding of who does what needs to be established at he start and then progress against delivery tracked closely to a successful competition.
Project Office – A profession resource dedicated to and focused on a successful on time delivery of the project.
The Accelerator can advance your FinTech strategy and BialekGroup is ready to help.
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