African FinTechs present a significant and immediate growth opportunity. FinTechs have the market and technology knowledge needed to identify and realize a deep and wide-ranging set of payment opportunities. A major obstacle to realize this opportunity is the issue of onboarding, specifically reducing the time it takes to bring a FInTech to market and generate revenue.
Onboarding is challenging because it is difficult to gain and sustain alignment among the stakeholders: payment network, BIN sponsor, processor and FinTech. It is challenging because the onboarding process is multi-functional: technical, operational, financial, marketing, regulatory and compliance issues have to be addressed in a coordinated manner otherwise milestones are missed and products launches are late.
Those challenges present an opportunity as well. The companies that are able to solve the onboarding challenge will gain a significant competitive advantage. That means more partnerships more revenue, more quickly.
To address the onboarding challenge BialekGroup has developed The Accelerator, a service that focuses on successfully managing the key onboarding drivers:
The Accelerator can advance your FinTech strategy and BialekGroup is ready to help.
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