FinTech Strategic Partnership Consulting. A New Product
We consult with marketplace lenders and community banks and other lenders to create a strategic partnership to meet both parties’ business goals. It may be more cost effective to partner with a FinTech provider or marketplace lender than to create a new platform.
We offer a value-based consulting product to analyze goals, prepare a strategic plan and negotiate and document a transaction. I define marketplace lending as creating platforms to connect borrowers and lenders.
FinTech services are those using computer and other technology to enable banking and lending. FinTech is used in the creation of the platforms. The marketplace lender most often has an emphasis on new technology but when it enters the market, it has no expertise with state and federal lending law, including licensing issues. Banks have regulatory expertise, but the systems are in constant need of modernization, updating loan products, etc.
I am working on an article “How to Successfully Strategic Alliances in Lending” which gives an overview of the current state and federal law in this area and strategies to succeed.