FinTech Strategy Consulting & Market Research
Strategy Consulting
- Market Entry Strategy
- Technology Acquisition (M&A)
- Internal vs External Development Consulting
- Digital Transformation Strategy
- Best Practices & Knowledge Teaching
- Startup Strategy
- Value Chain Assessment
- Business Model Innovation
- Partnership Identification
- AI & Machine Learning Adoption Consulting
Market Research
- Market Sizing, Entry & Feasibility
- New Trend Tracking
- Competitive Intelligence
- Customer Insights Research
- Go-To-Market Strategy
- AI & Machine Learning
Algorithmic Trading Market Research
Anti Money Laundering (AML) Market Research
Asia Financial Services Market Research
Asia FinTech Market Research
Asset Management Market Research and Strategy Consulting
ATM Market Research
Bank Branch Market Research
Bank Data Analytics Market Research
Banking as a Service Market Research and Strategy Consulting
Banking Technology Market Research
Blockchain Market Research
Business Interruption Insurance Market Research and Strategy Consulting
Buy Now Pay Later (BNPL) Market Research
Capital Markets Automation and Artificial Intelligence Consulting
Capital Markets Market Research
Cardholder Market Research
China's Payment Technology Market Research
Commodity Pricing Market Research
Community Banks Market Research and Strategy Consulting
Corporate Treasury Market Research
Cost Benefit Analysis Market Research
Credit Card Market Research
Credit Insurance Market Research and Strategy Consulting
Cross-Border Payments Market Research and Strategy Consulting
Cryptocurrency Market Research
Debt Capital Markets Consulting
Digital Acquisition Banking Customer Market Research & Strategy Consulting
Emerging Economy Financial Inclusion Market Research and Consulting
FedCash E-Manifest Service Market Research
Financial Service Change Management Market Research and Strategy Consulting
Financial Services Automation and Artificial Intelligence Consulting
Financial Services Customer Acquisition Consulting
Financial Services Customer Retention Consulting
Financial Services Go-To-Market Consulting
Financial Services Industry Market Research
Financial Services Market Research
Financial Services Reorganization Market Research and Consulting
Financial Services Sourcing Consulting
Financial Services Transaction Management Consulting
FinTech Go-To-Market Consulting
FinTech Market Research
FinTech Market Research: Opportunities and Challenges
IT Decision Maker Market Research
Payments Market Research
FinTech Program Management Market Research and Consulting
Foreign Exchange Market Research
Gabor-Granger Market Research
Hedge Fund and Investment Market Research
Hedonic Pricing Market Research
Human Capital Management (HCM) Financial Services Market Research and Consulting
Independent Financial Advisor Market Research
Instant Tip Payouts Hospitality Market Research
Institutional Investment Market Research and Strategy Consulting
InsurTech Market Research
Investment Banking Automation and Artificial Intelligence Consulting
Investment Management Market Research
Investment Technology Market Research
LendTech Market Research
Libor Market Research
M-Commerce Market Research
Middle-Market Consumer Credit Cards Market Research & Strategy Consulting
Mortgage Market Research
Non-Deal Roadshows Consulting
OMS and PMS Financial Services Solutions Consulting
Payday Lending Market Research
Payment Technology Market Research
Payments FinTech Consulting
Payments Vaulting Consulting
Pension Fund Automation and Artificial Intelligence Consulting
Portfolio Management Automation and Artificial Intelligence Consulting
Portfolio Management Market Research
Price Margin Market Research
Pricing Analytics Research
Pricing Market Research
Pricing Strategy Research
Private Equity Market Research
Regulation Technology (RegTech) Market Research
Repurchase Agreement (Repo) Market Research
Sales Engineering Financial Services Consulting
SIS FinTech Consulting Attended Pay 360 London
SMB Lending Market Research and Strategy Consulting
SME Fintech Market Research and Strategy Consulting
TMT Investment Banking Market Research and Strategy Consulting
Unbanked Consumer Market Research and Strategy Consulting
Van Westendorp Market Research
Venture Capital Automation and Artificial Intelligence Consulting
Venture Capital Market Research
Virtual Cards Market Research and Strategy Consulting
Wealth Management Market Research and Strategy Consulting
Wealth Technology Market Research
Wholesale Banking Market Research
70%
of Americans want their banks to provide technologies beyond traditional services.
1st
FinTech as most important to improve ROE in banks, in the next 3 to 5 years.
57%
of Americans face financial problems that technology could solve: billing, fees, etc.
What is FinTech Strategy Consulting & Market Research?
FinTech strategy consulting involves advising companies on how best to use financial technologies to their advantage. It includes identifying emerging financial trends, integrating new financial technologies into existing systems, and developing new tech-driven financial products or services.
The Future: FinTech is an opportunity, not an enemy!
Trailblazing Strategy and Research solutions for tomorrow’s FinTech leaders
- We provide Strategy Consulting, Market Research, Insights, Data, Go To Market Strategy, and more.
- We advance our clients’ innovation in Artificial Intelligence, Blockchain, Mobile Applications, AI, Cloud Computing, Machine Learning, Big Data & Analytics.
- We deliver Technology Acquisition, Business Model Innovation, Knowledge, Digital Transformation, Market Opportunity, and Market Entry Strategy
- We offer guidance on operational improvements, leveraging technology to enhance efficiency and productivity.
- We provide a spectrum of services (from qualitative and quantitative research to advanced analytics and strategic consulting) covering every aspect of FinTech market research
FinTech Strategy Consulting
FinTech strategy consulting guides financial technology companies and traditional financial institutions in leveraging the latest technological advancements to innovate, compete, and thrive in the rapidly evolving financial sector. This type of consulting addresses the unique challenges and opportunities presented by the intersection of finance and technology, including areas like digital payments, blockchain, digital banking, and regulatory compliance.
At the core of FinTech Strategy Consulting is the goal of harmonizing technology with financial services in a way that enhances efficiency, customer experience, and market competitiveness. Consultants work with clients to identify and implement tech-driven solutions that align with their business objectives, whether it’s developing new digital products, optimizing existing operations, or exploring new market opportunities. They also play a crucial role in addressing regulatory challenges and ensuring compliance in a sector where regulations are constantly evolving.
FinTech strategy consulting and FinTech market research are two distinct yet complementary areas within the financial technology sector. Understanding their key differences is essential for businesses in the FinTech space looking to leverage these services effectively.
FinTech Strategy Consulting
- Solution-Oriented Approach: FinTech strategy consulting focuses on providing actionable strategies and solutions to FinTech companies or traditional financial institutions embracing digital transformation. Consultants in this field work closely with clients to understand their unique challenges and objectives, and then develop customized strategies to achieve specific business goals.
- Implementation and Advisory Services: It involves guiding clients through the implementation of proposed strategies. This can include assistance with digital product development, operational restructuring, technology integration, and navigating regulatory landscapes. Consultants often offer ongoing advisory services to ensure successful strategy execution.
- Future-Focused and Innovative: Consultants in FinTech strategy are often at the forefront of financial technology trends and innovations. They provide insights on emerging technologies, market disruptions, and future industry trends, helping clients not only adapt to the current market but also position themselves as forward-thinking leaders.
FinTech Market Research
- Data-Driven Market Insights: FinTech Market Research focuses on gathering and analyzing data specific to the financial technology market. This includes studying market trends, consumer behaviors, competitive landscapes, and regulatory frameworks. The primary aim is to provide a comprehensive understanding of the market in which FinTech operates.
- Objective and Quantitative Analysis: Market research in FinTech is largely quantitative and aims to provide objective insights. It involves systematic collection and analysis of data, often using surveys, market analysis tools, and industry reports to gather information that is crucial for informed decision-making.
- Foundational Knowledge for Strategy Development: While not prescriptive like consulting, market research offers the foundational knowledge necessary for effective strategy development. It helps businesses understand where they stand in the market, identify potential opportunities and challenges, and gauge customer needs and preferences.
SIS International’s approach to strategy consulting is comprehensive and multifaceted, addressing a range of crucial areas that are key to business success in today’s competitive landscape. Here’s how we approach each area:
- Market Entry Strategy: We assist businesses in identifying and evaluating new market opportunities, whether geographical or sector-specific. Our approach includes in-depth market analysis, competitor assessment, and risk evaluation to formulate entry strategies that maximize the chances of successful market penetration and sustainable growth.
- Technology Acquisition (M&A): Our consulting services extend to guiding businesses through the complexities of mergers and acquisitions in the tech sector. We focus on identifying synergistic opportunities, conducting thorough due diligence, and advising on integration strategies to ensure that technology acquisitions align with overall business objectives and add tangible value.
- Internal vs External Development Consulting: We help businesses decide between developing solutions internally or outsourcing/external partnerships. This involves assessing internal capabilities, resource availability, and the potential benefits and risks of external partnerships, ensuring that the chosen development path aligns with the company’s strategic goals and operational capabilities.
- Digital Transformation Strategy: In guiding digital transformation, our focus is on aligning technology with business objectives. We advise on the adoption of digital tools and platforms that enhance operational efficiency, improve customer experiences, and drive innovation, all while ensuring a smooth transition and minimal disruption to the business.
- Best Practices & Knowledge Teaching: Our strategy consulting includes imparting best practices and knowledge to our clients. We focus on upskilling teams and providing the necessary training and resources to ensure that businesses can maintain and build upon the strategies we develop together.
- Startup Strategy: For startups, we offer tailored strategies that address the unique challenges and opportunities of early-stage businesses. This includes business model development, market positioning, funding strategies, and scaling plans, all designed to set startups on a path to rapid growth and success.
- Value Chain Assessment: We conduct thorough assessments of clients’ value chains, identifying areas for optimization, cost reduction, and quality improvement. This holistic approach ensures that improvements in one area of the value chain positively impact the entire operation.
- Business Model Innovation: Recognizing the need for constant evolution, we assist businesses in innovating their business models to stay ahead of market trends and disruptions. This involves exploring new revenue streams, redefining customer interactions, and leveraging emerging technologies.
- Partnership Identification: We aid in identifying and securing strategic partnerships that can enhance business capabilities, expand market reach, and add value. Our approach includes partner evaluation, negotiation support, and strategy for collaborative success.
- AI & Machine Learning Adoption Consulting: As AI and ML transform industries, we guide businesses in adopting these technologies effectively. Our approach includes assessing AI readiness, identifying suitable AI/ML applications, and developing strategies for integration that complement existing processes and drive innovation.
The role of automation and artificial intelligence in the financial sector is critical. It offers new ways to meet evolving market demands and customer expectations, streamlining complex financial processes. FinTech automation involves applying technology to automate key financial tasks like transaction processing, risk assessment, customer service, and compliance reporting. This automation speeds up processes and reduces the potential for human error, enhancing operational efficiency and reliability. Moreover, it involves expert guidance on how to effectively implement and integrate these technologies into existing financial operations.
The role of automation and artificial intelligence in the financial sector is critical. It offers new ways to meet evolving market demands and customer expectations, streamlining complex financial processes.
FinTech automation involves applying technology to automate key financial tasks like transaction processing, risk assessment, customer service, and compliance reporting. This automation speeds up processes and reduces the potential for human error, enhancing operational efficiency and reliability. Moreover, it involves expert guidance on how to effectively implement and integrate these technologies into existing financial operations.
Speed, accuracy, and efficiency are non-negotiable in financial services. Therefore, automation enables financial institutions to process vast volumes of transactions rapidly and accurately, reducing operational costs and minimizing errors. This is particularly important in areas like payment processing, loan underwriting, and compliance reporting, where speed and accuracy are paramount.
AI also elevates FinTech by providing deep insights that were previously inaccessible. It can analyze patterns in large datasets to predict market trends, assess risks – and even anticipate customer needs. This capability is invaluable for personalized financial services, risk management, investment strategies, and fraud detection.
Moreover, in a sector where regulatory compliance is a major concern, AI and automation provide effective tools for monitoring and ensuring compliance with various regulatory requirements. They can quickly adapt to changes in regulations, reducing the risk of non-compliance. Therefore, these technologies are revolutionizing traditional financial processes – and they have more benefits, including:
- Advanced Risk Assessment and Management: AI’s ability to analyze large datasets enables more accurate risk assessment. Financial institutions can use AI to identify and mitigate potential risks, enhancing the overall stability of their operations.
- Personalized Customer Experiences: AI enables the customization of financial services to individual customer preferences and behaviors. This personalization can lead to higher customer satisfaction and loyalty.
- Effective Compliance Management: With ever-changing financial regulations, automation and AI provide effective tools for monitoring and ensuring compliance. These technologies can adapt to new regulations quickly, reducing the risk of non-compliance.
- Data-Driven Decision-Making: AI-driven analytics offer deep insights into market trends, customer behavior, and operational efficiency. These insights allow financial institutions to make informed strategic decisions.
- Fraud Detection and Prevention: AI algorithms are highly effective in detecting patterns indicative of fraudulent activity, thereby enhancing the security of financial transactions and protecting against losses.
A variety of technologies and tools play a crucial role in transforming financial services. These solutions, offered by leading technology providers, are at the forefront of innovation in the Fintech sector.
- AI and Machine Learning Platforms: Tools like Google Cloud AI, and Amazon SageMaker offer powerful machine learning and AI capabilities. They’re used for predictive analytics, customer behavior analysis, and risk management in finance.
- Blockchain Technology: Solutions from providers like Ripple, Ethereum, and Hyperledger are revolutionizing financial transactions. They offer secure, transparent, and efficient platforms for payments, settlements, and smart contracts.
- Regulatory Technology (RegTech): Companies like ComplyAdvantage and Trulioo offer solutions that automate compliance processes, using AI to adapt to regulatory changes and ensure adherence to financial regulations.
- Investment Management Software: AI-powered investment tools like Wealthfront and Betterment offer automated, algorithm-based investment services, personalizing portfolio management for investors.
- Financial Data Analysis Tools: Tools like Tableau and Power BI are used for visualizing and analyzing financial data, providing insights that drive strategic decision-making in finance.
Automation and artificial intelligence in Fintech consulting deliver a range of transformative outcomes in various aspects of financial operations, enhancing both efficiency and effectiveness.
- Enhanced Customer Experience: AI-driven insights enable financial institutions to offer personalized financial services and products. This personalization can significantly improve customer satisfaction, loyalty, and engagement.
- Improved Risk Management: AI’s predictive analytics and data processing capabilities allow for more accurate risk assessment and management. Financial institutions can better predict and mitigate risks associated with lending, investments, and other financial services.
- Innovative Product Development: AI and automation enable the development of innovative financial products and services, catering to the evolving needs of the digital-savvy customer.
- Enhanced Fraud Detection and Security: AI algorithms are effective in detecting and preventing fraud. They analyze transaction patterns to identify unusual activities, enhancing the security of financial operations.
- Cost Savings: Automation leads to significant cost savings by reducing the need for manual labor and minimizing errors, which can be costly to rectify.
- Compliance and Regulatory Adherence: Automation and AI assist in ensuring compliance with ever-changing financial regulations. They can quickly adapt to new rules, reducing the risk of non-compliance.
The success of FinTech automation and artificial intelligence consulting depends on several key factors. Addressing these elements effectively is crucial for ensuring that the integration of these technologies delivers optimal benefits in the financial sector.
- Alignment with Business Objectives: The integration of automation and AI must align with the overall business objectives and strategy of the financial institution. This ensures that the technologies are implemented in a way that supports and enhances the organization’s goals.
- Effective Change Management: Integrating new technologies into existing systems requires effective change management to address potential resistance and ensure a smooth transition.
- Ongoing Evaluation and Adaptation: Regularly evaluating the performance of implemented technologies and being willing to adapt them as needed is essential for long-term success.
- Partnerships with Reliable Technology Providers: Collaborating with reputable technology providers who offer robust and innovative FinTech AI solutions can greatly enhance the quality and effectiveness of the implementation.
- Focus on Customer Experience: Ultimately, the use of automation and AI should enhance the customer experience, providing more efficient, personalized, and accessible financial services.
Traditional market research in the financial sector typically involves gathering and analyzing data about market trends, customer preferences, competitor strategies, and economic conditions. This research is often conducted through surveys, interviews, focus groups, and analysis of secondary data. The primary aim is to gain insights that inform product development, marketing strategies, and customer service improvements.
In contrast, FinTech strategy consulting (and its emerging automation and artificial intelligence tools) are more technology-focused and operationally driven. It involves the application of advanced technologies such as AI, machine learning, and automation to enhance and streamline financial services and processes. This includes automating transaction processing, using AI for risk assessment and fraud detection, and employing predictive analytics for personalized financial services. The focus is on leveraging technology to improve operational efficiency, reduce costs, enhance customer experiences, and provide data-driven insights for strategic decision-making.
Another key difference is the real-time capability offered by AI and automation. FinTech AI tools can process and analyze data in real-time, providing immediate insights and enabling swift responses to market changes. In contrast, traditional market research often involves a longer process of data collection and analysis, providing insights that are valuable but not immediately actionable in the same way.
FinTech strategy consulting and market research enable companies to navigate the complex and dynamic FinTech ecosystem effectively. Conducting thorough FinTech strategy consulting and market research is essential for these companies to harness emerging technologies, respond to changing consumer behaviors, and remain competitive in a global market that is increasingly driven by innovation and digital transformation. Particularly, it brings the following advantages:
- Understanding Market Dynamics: The FinTech industry is evolving rapidly, with new technologies and innovations emerging constantly. That’s why companies need to understand these changes to stay relevant and competitive.
- Competitive Advantage: Market research helps companies identify unexplored niches and emerging opportunities in the FinTech space, allowing them to gain a competitive edge. Moreover, companies can benchmark their performance and strategies against competitors, helping them understand their market position and areas for improvement.
- Risk Management and Compliance: Strategy consulting helps companies understand and comply with these regulations, avoiding costly legal issues. It includes technological, market, and regulatory risks; enabling companies to develop effective risk management strategies.
- Enhancing Customer Experience: In-depth market research provides insights into consumer behavior and preferences, allowing companies to tailor their offerings for better customer engagement. Additionally, it can guide companies in adopting new technologies (like AI chatbots or blockchain-based transactions) to enhance customer experience and service efficiency.
- Driving Innovation and Growth: With data-driven insights, companies can make strategic decisions about investments, product development, and market expansion. Consulting and research offer insights into these advancements and how to implement them.
Choosing the right partner for FinTech Strategy Consulting & Market Research is crucial for success in the financial technology landscape. SIS International stands out as a leading choice due to its unique strengths and capabilities.
- SIS International boasts a long-standing history of providing top-tier market research and strategy consulting services, with a special focus on the FinTech sector.
- The team at SIS International is composed of experts with deep knowledge of financial technologies, ensuring that the advice and insights provided are both relevant and cutting-edge.
- With a global presence, SIS International offers comprehensive insights into international markets, crucial for businesses operating or planning to expand globally.
- Understanding that each business is unique, SIS International provides tailored research solutions to meet specific client needs and objectives.
- SIS International helps clients develop a clear strategic vision that aligns with both current market dynamics and future trends.
- Beyond strategic advice, SIS International offers guidance on operational improvements, leveraging technology to enhance efficiency and productivity.
- SIS International focuses on building long-term relationships with clients, offering ongoing support and advice as markets and technologies evolve.
- From startups to multinational corporations, SIS International provides scalable solutions, ensuring that businesses of all sizes can benefit from our expertise.
- The comprehensive service portfolio of SIS International is a one-stop solution for all FinTech strategy and market research needs.
FinTech has fundamentally changed the financial markets and will continue to do so.
Technological innovation in finance is not new, but the amount of investment in technology and the pace of innovation have increased significantly in recent years. There has been rapid advancement in artificial intelligence, mobile applications, cloud computing, big data analytics, and distributed ledger technology, such as blockchain. This changes the business models of established financial institutions, technology companies, and new market entrants alike and affects the entire financial sector, including services for both consumers and wholesale markets.
Financial technology companies consist of both startups and established financial and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.
Banks are embracing FinTech systems to improve customers’ experience and the banks’ operations efficiency. These services are provided by both Startups and established software providers. Depending on the bank, the question of working with either a financial tech startup or an established player can be the most delaying process to start the transformation. Additionally, the strategic implications of these decisions can have long-term effects.
Banks must decide if they are:
- Building organic growth from their traditional strengths
- Developing market-facing innovations
- Outsource the development to a third-party
Ruth Stanat says, “The most successful banks will be those that improve agility and reduce cost by using collaboration to bring various components together and build the strongest ecosystem. But before banks and FinTechs come together, they should be clear about how they want to cooperate.”
We help companies answer their most pressing questions:
- What are the trends?
- Which FinTech innovations suit which bank?
- What could FinTech and AI do for each specific bank?
- Should your organization develop internally?
- Which FinTech systems are you missing?
- How much money should you invest?
- What is their competitors’ position?
About our Founder
Ruth Stanat is the CEO and Founder of SIS International Research. Ms. Stanat was formerly a VP of Strategic Planning at Chase Manhattan Bank and a pioneer in Global Market Research and Strategic Intelligence. She is a three-time author on Strategic Management and Corporate Intelligence.
Our Team
SIS brings a global team of experts and strategists skilled in Digital Transformation, Agile development, and Market Opportunity to propel your next strategy into the future of FinTech.
Contact us at [email protected] and +1.212.505.6805