Fintech Monthly - Episode One: October 2014 #fintech
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Entrepreneurs working in financial technology say everything from tough new rules to tweeting is shaking up the old-school world of banking.
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Entrepreneurs working in financial technology say everything from tough new rules to tweeting is shaking up the old-school world of banking.

But while there’s opportunity, chasing big business on Wall Street can be tricky for tiny startups. Anand Sanwal says selling to the financial industry is exhausting….he’s the co-founder of CB Insights, a venture-capital database. Yaron Samid, founder of BillGuard, says the financial industry’s long sales cycle also makes it tough to iterate.

But when you finally win a big customer’s business, the payoff is worth it, as once you’re in, you’re in. David Kedmey has found that as he sells his financial analytical software, EidoSearch, to large mutual funds and banks.

All three fin-tech entrepreneurs provide advice for those thinking about launching a fin-tech startup: Know your bank contact; talk to your customers early; and be smart about seeking advice.

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Peter Keates is an entrepreneur, author and speaker on the topic of Business Model Innovation. President at Placesquare, a company providing information & resources on several niche markets. Founder & CEO Onopia a leading consulting boutique in Business Model Innovation. He is certified in General Management & Strategy from ESCP-Europe, and certified facilitator in LEGO© SERIOUS PLAY© method by Rasmussen and Ecole Centrale Paris .

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