Assisting FINTECs and new startup companies

PWR Consulting can provide financial and risk management advisory services to FINTEC companies.   We can help work with the business to build profitable relationships with prospective financial institution customers by addressing the specific needs of the customer.  We help assess the risks inherent in the products offered or the processes established to support the startup’s business and in doing so, help build the appropriate risk management program that banks and other Financial Institutions will require.  Our financial advisory services also include assisting in all aspects of the contract negotiations with prospective customers.

A complete list of our advisory services include:

• Reviewing and assessing business plans prepared by the business and providing effective challenge to the assumptions imbedded therein.

• Assisting in the preparation of presentation material used for customer or client sales meetings.

• Act as advisor to the business during prospective sales meetings.

• Providing introductions to the key decision makers within the financial service sector at either the large banks in Canada or smaller tier 2 banks who may want the engage the services of the FinTec.

• Assessing the inherent risks within a service or product offering.

• Assisting in drafting polices and procedures to mitigate the inherent risks to levels acceptable to the business and the prospective customer.

• Identifying and documenting key risk indicators and key performance indicators that help to monitor the activities of the business.

• Providing adequate and appropriate model development and governance documentation. If the FINTEC has built a sophisticated model to assist in decision making such as loan adjudication or behavioral modeling, for the financial institution, banks and other regulated financial institutions will require model governance standards be in place to manage the operational and reputational risks inherent in using the models. PWR can work with the FINTEC to develop these policies and procedures and address any model development issues customers may have.

• Providing regulatory advice regarding the various regulations that may affect the business. This would include On Boarding, Know Your Client, AML, Bank and Trust Company Act, Cost of Borrowing, Privacy, OSFI Guidelines and the Labour Code.

• If the business is involved in capital markets or security trading activities we have securities lawyers and capital markets specialists who can help with product development advisory services.

Financial institutions will generally expect that the prospective FINTEC company has in place the necessary controls to mitigate operational and reputational risk to the financial institution. Having the right advisor in place is instrumental when entering into a relationship with a financial institution.