What do Fintech Consultants do?

A consultant should be the driving force behind your fintech’s success. They play a crucial role in educating, collaborating, and ensuring your solution perfectly aligns with your business needs. With years of experience and deep market analysis, consultants provide insights and actionable results derived from extensive research into the global FinTech landscape. By staying ahead of market trends, they support businesses in identifying opportunities, providing top-notch solutions, and enabling growth. Whether it’s through marketing strategies, detailed reports, or hands-on implementation, consultants are here to help your business get the edge it needs in the competitive world of finance. Contact us today to explore how we can support your journey toward transformative financial solutions.

What Do Fintech Consultants Do? A Look at Financial Services Specialists Firms

• Accenture.
• The Boston Consulting Group.
• Capgemini.
• Deloitte.
• EY.
• KPMG
• AlphaFMC.
• Cognizant.
• Aliancy.
• McKinsey.

What Do Fintech Consultants Do? Choosing the Right Type of Financial Consultant

We would be glad to discuss this with you if you are not on this list. We worked already with some of you here and had experienced a truly different build phase thanks to your intervention as an “intermediary” partner. Investglass aims to connect the best Fintech companies together we are working hand-in-hand with Fintech consultants and business strategy specialists. Building a modern bank or wealth management is a true challenge and we believe that only builders should listen. Fintech consultants collect unique expertise by asking the right question at the right time, driving digital transformation in the process.

You will find consultant specialists for payments, capital markets, trading, wealth management and each financial consultant come with their innovation guidelines. Following experts should be done carefully as challenges will vary as well as fintech solutions.

We strongly suggest your company to know before you start with consultants which innovation you wish to implement. Technology jump can offend your staff and you should make sure that investment will be worth it! Financial consultants will answer your questions and drive the future of your firm with the most innovative fintech. A great fintech consultant is a team player and knows how to negotiate with clients and fintech companies. They also ensure regulatory compliance, which is crucial for the success of any fintech project.

Leading by success

What skills do you need to become a fintech consultant?

Well, when we see our favorite consultants… 🙂 Daniel, Joe, Paul, Nicolas, Olivier, Benjamin…. well… passion… they breathe fintech companies’ spirit and understand their development standard. They are perfect mediators to create growth and often know when to remove the marketing hype to make sure that your firm will find answers through requests for information or request for proposals.

AH! RFI and RFP… a poem. 200-400 questions asked to fintech companies to assess their capabilities to answer your firm requirements.

A good consultant is a hard-working professional, with strong analytical skills and of course a perfect understanding of banking, investment regulations, and regulatory compliance. A great fintech consultant is a team player and knows how to negotiate with clients and fintech companies. Their expertise is then needed for the build phase which is the connection between your existing software, habits, and the new fintech company solution. Digital transformation is a key aspect of this phase, ensuring seamless integration and innovation. Challenges can start again here as fintech needs some space into your bank… and yes innovative schemes can provoke client rejection.

Are financial consultants part of the Fintech CRM revolution?

We know that you work hard to build your business and we want to help you grow it even faster. That’s why we built a CRM that was made for consultants like you. With our intuitive interface, you can easily manage all of your clients in one place without having to switch between systems or spend hours on data entry, enhancing the overall customer experience. You’ll be able to focus more on what matters – building relationships with your customers and making them happy!

InvestGlass is a company that specializes in connecting the best FinTech companies together. Our unique approach to building instead of just talking about things we don’t have sets us apart from other companies in the industry. We understand that bringing innovation to financial institutions is a challenging process, one which requires the right resources and expertise. If you don’t believe just ask us for a trial and you will discover how we can build a bank or a fintech in a weekend.

Did you know?

Fintech Consulting Jurisdictions

When it comes to fintech consulting, there are key regions where businesses can establish a strong presence. Here’s a concise overview of the jurisdictions we cover:

By considering these factors, businesses can strategically choose the right jurisdiction for their fintech operations, ensuring regulatory compliance and maximizing potential for success.

Europe and the UK

We provide fintech consulting services throughout the European Economic Area (EEA) and the United Kingdom. These regions offer robust markets for businesses looking to obtain Payment Institution or Electronic Money Institution licenses. A strong, experienced team and significant funding are essential to successfully navigating regulatory compliance in these well-regulated areas.

North America

Specifically, Canada is an attractive jurisdiction for fintech operations. It’s known for its stable economy and supportive regulatory environment, ensuring regulatory compliance and making it ideal for businesses ready to launch or expand their services.

Middle East

In Bahrain, the financial landscape is developing rapidly, with attractive opportunities for fintech companies. Businesses can apply for specialized licenses, such as the Ancillary Service Provider license, to ensure regulatory compliance and tap into this growing market.

Key Requirements

• Human Resources: Depending on the jurisdiction, you’ll need 2-10 officers at the time of authorization. Some team members must be locally based and identified during the application process.
• Capital: The minimum capital requirements vary. For example, licenses in the EEA and UK require a minimum share capital of EUR 125,000 for Payment Institutions and EUR 350,000 for Electronic Money Institutions. In Bahrain, a core capital of approximately BD 250,000 (around EUR 615,000) is necessary.
• Approval Timeline: The approval process can take anywhere from 6 to 18 months, influenced by the specific jurisdictional demands.

By considering these factors, businesses can strategically choose the right jurisdiction for their fintech operations, ensuring compliance and maximizing potential for success.

What is the Timeframe for Obtaining a Fintech License Across Different Jurisdictions?

The timeline for securing a fintech license can vary significantly depending on the jurisdiction and the level of regulatory compliance required. Generally, it can take anywhere from half a year to a year and a half.

Here’s a breakdown of factors affecting the timeline:

• Regulatory Environment: Some regions have streamlined processes designed to encourage innovation, while others may have more complex regulations.
• Application Preparedness: The completeness and accuracy of your application can impact the length of processing. Ensuring all documents and requirements are met can expedite the process.
• Jurisdictional Nuances: Specific jurisdictions may have unique requirements or delays. For instance, regions like Singapore and the UK might offer more efficient timelines compared to others.
• Government Backlog and Review Times: The current workload of regulatory bodies can also influence timelines, with high demand potentially leading to longer waits.

In summary, while the timeframe can range widely, understanding the specific requirements and conditions of your chosen jurisdiction is key to navigating the process effectively.

Recruiting a Local Team for a Fintech Business: A Step-by-Step Guide

Recruiting a local team for a fintech business involves careful planning, a strategic approach, and ensuring regulatory compliance. Here’s a comprehensive process to ensure you attract the right talent.

1. Determine Team Size and Structure

• Evaluate your business needs and the requirements of the local jurisdiction to decide on the number of team members. Typically, this can range from 2 to 10 officers.
• Ensure a balance between local and external hires to maintain regulatory compliance and tap into local expertise.

2. Identify Key Roles

• Identify critical positions you need to fill, such as compliance officers, financial analysts, and technology specialists.
• Consider the specific skills and qualifications needed for each role, including regulatory compliance, to support your business goals.

3. Sourcing Candidates

Utilize local job boards, professional networking sites like LinkedIn, and recruitment agencies familiar with the fintech sector and regulatory compliance.

Attend industry events and local fintech meetups to connect with potential candidates directly.

4. Application and Evaluation

• Clearly define the application process and criteria, ensuring regulatory compliance. This may include specific fintech experience, understanding of local regulations, or technological proficiency.
• Conduct thorough evaluations through interviews, skills assessments, and scenario-based questions to gauge candidate suitability.

5. Compliance and Legal Considerations

Ensure that all hires comply with local labor laws and regulatory compliance requirements. This might involve verifying qualifications and securing necessary permits.

6. Onboarding Process

Develop an onboarding program to integrate new team members, focusing on company culture, regulatory compliance, and operational processes.

By following these steps, you can build a robust local team that will drive your fintech business forward while ensuring compliance with regional regulations.