As a new FinTech preparing to launch, your limited resources will face competing demands. At a high level, you’ll need to:
- Build a secure platform to support your services.
- Obtain your Regulatory Permission (FCA license).
- Hire skilled staff to meet regulatory requirements and serve your customers.
- Market your services effectively to your target audience.
Prioritizing Resources
Ask yourself, how quickly do you want to launch and
what resources do you have in place?
- Staffing and Regulation
Your team must have the expertise to satisfy regulatory requirements, onboard customers correctly, and ensure funds are secure. A strong compliance framework is essential to maintain trust and avoid costly mistakes. - Marketing and Customer Awareness
Building awareness in your target market is crucial to gaining momentum. Early-stage marketing efforts should focus on creating visibility and driving user adoption. - Platform Security
Trust is paramount in the financial sector. Your platform must be secure, resilient to cyber threats, and adaptable to evolving risks. Cybersecurity is not just a technical issue—it’s key to maintaining customer trust and avoiding reputational damage. - Regulatory Compliance
Staying compliant with the ever-changing regulatory landscape is time-intensive and costly. Your systems must adapt to new requirements seamlessly, ensuring you avoid penalties and maintain credibility. - What Capabilities do you need for Minimum Viable Product (MVP)?
Minimum Requirements
Ledger & Account Management
Hosting, Management & Security
Connections to at least one
- Basic Customer Account Capability
- Payments
- Settlement
- Reconciliation
- Reporting
- Server & Firewall Management
- Development / Sandbox / Production instances
- Replicated Databases
- Deployment & patching
- Monitoring
- Replication & Backups
- Logging & Reporting
- Penetration Testing, DDoS, Virus prevention …
- Payment Platform
- AML / KYC / KYB / Sanctions provider
- Transaction Monitoring provider
- Single Point of Management
Nice to Have
- Joint Accounts
- Company Accounts
- Savings, Loans & Overdrafts
- Multi-Currency
- API Provision
- Mobile Apps
- Cloud native solution
- Forex Provider(s)
- Additional Payments Providers
- Additional AML / KYC / KYB provider(s)
- Loans and Savings Partners
- Build vs. Buy: Choosing the Right Platform
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Time-consuming and expensive, both in development and ongoing maintenance
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Quickest MVP and most cost-effective approach is to build on a proven platform.
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Proven Platform Benefits
By leveraging an existing platform, you gain access to:
- Functional modules for payments, foreign exchange, risk management, and more.
- Built-in security and compliance frameworks.
- Pre-established integrations with key service providers.
- Previous experience with successfully achieving regulatory approval
- Accelerated Time-to-market
This approach allows you to focus on what you do best—developing your services and delivering an exceptional user experience — while minimizing costs and accelerating your time to market.
Future-Proof Your Business
A proven platform not only reduces upfront development costs but also ensures scalability and adaptability as your business grows, helping you avoid long-term operational challenges.
Ready to launch your FinTech startup faster?
Leverage a proven platform to gain the functionalities, security, and compliance you need to hit the ground running.
As a new FinTech preparing to launch, your limited resources will face competing demands. At a high level, you’ll need to:
- Build a secure platform to support your services.
- Obtain your Regulatory Permission (FCA license).
- Hire skilled staff to meet regulatory requirements and serve your customers.
- Market your services effectively to your target audience.
As time is money I strongly recommend you look at options to
Accelerate your Time-to-Market.