Industry problems require industry solutions. Banks and existing financial services firms are best equipped to meet the emergent fintech threat, conversely by working together. However, the current Consortium formation and development process remains inefficient, often consuming significant executive time and resources. Meanwhile, Banks are not well equipped to manage projects requiring coordination across multiple stake-holders and entities. OPCO partners with banks to help develop and launch Consortium startup companies saving both time and money.
Launching a consortium is a critical option as banks look to compete against emerging fintech firms. However, the Consortium process is typically 2 sequential parts Pre-NewCo and Post-NewCo formation:
And managing the process poses several challenges including :
OPCO services are developed to help banks accelerate consortium roll-out while realizing significant cost savings and adhering to regulatory compliance and BHC considerations
Initial & sustained sponsorship is just as important as the business case and market need
Planning & project management (pre-launch) is critical to ensure successful stakeholder coordination
Key factors include strong independent management, talent acquisition and adequate funding to support the business model
