Last week, Nomanini CEO Vahid Monadjem joined a panel discussion on bank <> fintech partnerships at Seamless Southern Africa. Together with Brad Gills of Standard Bank he shared a few key insights gained over the past year of working together to launch Trader Solutions in multiple countries across the continent.
Some of the critical factors for successful partnerships between banks and fintechs highlighted included:
2. Futher, it is not just important to build alliances and trust-based relationships with the sponsor but to build a network of collaborations to reduce dependency on an individual stakeholder.
3. Each partner should clearly define their expectations and the mutual goals of the partnerships should be
4. Lastly, timing plays an important role in building synergies and partnerships. Often, a pitch and solution can be perfect but if the timing is off, it often falls through.