We help regulatory authorities and key financial sector firms set up FinTech consortiums to introduce shared-cost innovation in a coordinated and cost-efficient manner.

Collaboration–The Way Forward

Collaboration

To address the challenges of fragmentation, the GCC countries must consider setting up collaborative national FinTech consortiums comprised of financial institutions, regulators, and ecosystem partners in each country. This will provide the platform to attract and deploy a critical mass of global financial and human capital.

National Perspective

The consortiums will address the domestic FinTech needs and will seek to harness the fast-changing world of FinTech through partnerships and joint ventures. It will introduce innovation into the financial sector to promote greater financial inclusion, access to finance and reduce the costs of technological innovation and regulatory compliance

Shared Cost Initiatives

Many FinTech innovations can be introduced using a shared-cost / value utility model either because they represent financial sector’s infrastructure common to all institutions (e.g. Open Banking, Payments, RegTech) or because they are innovative solutions for the financial sector as a whole and offer a new and better way of doing things (e.g. blockchain, distributed ledger technologies, biometrics / identity, cryptoassets).

International Collaboration Examples

GCC Region Collaboration Examples

What We Do

Consortiums & Strategies

We set up FinTech Consortiums and develop FinTech innovation strategies and implementation work plans for different jurisdictions

Common Language

We develop a common language on FinTech innovation through workshops for senior management of the FinTech consortium member firms

FinTech JV Partners

We use our extensive international contacts in the FinTech industry to identify JV partners for each FinTech initiative identified as part of the consortium strategy

Build, Operate & Transfer

We deliver results on the ground – as part of the management contract with the FinTech Consortium, we project manage the implementation of the FinTech initiatives, manage the implemented FinTech solution for a specified period of time and then train a domestic team to take over the day-to-day management