We Set Up Pan-Industry FinTech Consortiums
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
Shared Cost Initiatives
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.
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.
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
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