Name: Fintech Insights – Strategic Partnerships
Uploaded: 2024-06-07T12:41:53.090Z
Duration: 276.76
Description: Fintech Insights explores strategic partnerships with Dexter Wilson, Senior Director, Strategic Partnerships at BNY Mellon while at Finovate Spring.

Fintech Insights - Strategic Partnerships.mp4

Fintech Insights - Strategic Partnerships.vtt

ENGLISH

{{00:00:12}}
Yeah, so for us at BNY Mellon,
we really look at the buy, build,

{{00:00:16}}
or even a hybrid model as being
key for accelerating innovation.

{{00:00:21}}
We embrace it because we know
that we can't build everything.

{{00:00:24}}
And for us to keep up with the pace of
change, we have to find key strategic

{{00:00:28}}
partners that are in technology, that are
VCs, that we can really work with, that

{{00:00:32}}
really helps us with ideation and building
and ideally pulling something together so

{{00:00:36}}
we can really accelerate our innovation.

{{00:00:39}}
So that's what's key for us at Make It
or Run is really how do we accelerate our

{{00:00:42}}
time in the market to really bring things
to our clients and, internally to really

{{00:00:46}}
support our overall strategic initiatives.

{{00:00:55}}
We find that partnerships is,
the key to partnerships is really

{{00:00:59}}
about how do you get more from just
a, beyond a vendor relationship.

{{00:01:03}}
So how do you make 1 plus 1
equals 3, 4, or 5 versus just 2.

{{00:01:08}}
And for us, it's if it's something
that brings us a brings us efficiencies

{{00:01:12}}
to our operations faster, or we get
a deeper understanding of how that

{{00:01:16}}
technology can be integrated across the
organization, then that, to us, is where

{{00:01:21}}
our partnership is the best approach.

{{00:01:23}}
Also, we just go through a vendor
relationship like we do with all of

{{00:01:25}}
our hundreds of vendors we have today.

{{00:01:28}}
It's finding those right partners that
really have the vision and goal that we

{{00:01:32}}
align with, that we know that's going
to bring us More than what we expected

{{00:01:36}}
from just a general vendor relationship.

{{00:01:45}}
I see it as, it's essential to everything
that we do in corporate America.

{{00:01:49}}
I'll, the, legacy incumbents are
heavily embedded with the organization.

{{00:01:54}}
So if you're a FinTech early start stage
company, that's really getting started.

{{00:01:59}}
To me, if you're.

{{00:02:01}}
Building your technology to be
interoperable with those big tech

{{00:02:05}}
and where you can easily integrate.

{{00:02:07}}
I feel like that's where you're
going to find the most success

{{00:02:10}}
when working with large corporates.

{{00:02:12}}
Versus if you're not, then actually
you'll be much more likely a threat.

{{00:02:16}}
Because I don't see the big tech
going anywhere anytime soon.

{{00:02:20}}
And trying to unseat them at large
organizations is, it's a big task.

{{00:02:24}}
And so it's important that
early stage technology companies

{{00:02:27}}
are looking at the big tech.

{{00:02:29}}
as a partner also, and how they
can actually be interoperable

{{00:02:32}}
and be integrated with the
technology that's already been

{{00:02:36}}
embedded within the organizations.

{{00:02:45}}
The key for us for a
successful partnership is a

{{00:02:47}}
couple of different things.

{{00:02:48}}
The first is really about
vision and vision alignment.

{{00:02:51}}
So we have to make sure that the companies
that we're looking to partner with has

{{00:02:55}}
the same vision that we have, that we are
clear about where they're trying to take

{{00:03:00}}
their companies and that it aligns with
where we're trying to take our companies.

{{00:03:02}}
Thanks.

{{00:03:03}}
If they don't, then actually the
partnership is most likely not

{{00:03:05}}
going to be it's not going to last.

{{00:03:08}}
So that's the first thing
is alignment of vision.

{{00:03:10}}
The second one is really about sponsorship
and that's really a sponsorship on

{{00:03:13}}
our side and in the corporate side
where we have to make sure that we

{{00:03:15}}
have the right level of sponsorship.

{{00:03:17}}
And so for us, that's typically
companies that are that's typically

{{00:03:21}}
Senior leaders that are executive
committee level or higher.

{{00:03:25}}
And then on the, FinTech side,
it's about making sure their board

{{00:03:27}}
members and their, investors on the
cap table, the significant ones, are

{{00:03:32}}
also sponsoring what they're doing.

{{00:03:33}}
So we have to have that sponsorship
that's solid on both sides that

{{00:03:36}}
gives us the support to move forward
with our partnership arrangement.

{{00:03:40}}
And then it's just really around
the, all the key things around

{{00:03:43}}
third party governance, risk.

{{00:03:45}}
Just making sure that the companies
are, the technology companies are

{{00:03:48}}
appreciative of and acknowledge that
working with large FinTechs it's, a,

{{00:03:53}}
it can be a burden when it comes to
onboarding for a new company particularly

{{00:03:57}}
if you're an early stage company.

{{00:03:58}}
And so having that appreciation and
being able to be patient, I would

{{00:04:02}}
say is going to be key for that
successful partnership to be in place.

{{00:04:07}}
And then for us, it's also being able
to point out the challenges that we see

{{00:04:10}}
as you work with an early stage company.

{{00:04:14}}
And being clear about that
and transparent is key.

{{00:04:16}}
Without having that transparency
it's very likely that the company on

{{00:04:20}}
the FinTech side will be surprised
when they come up with hurdles and

{{00:04:23}}
then they can't address them at the
speed we're looking to address them.

{{00:04:27}}
Those are keys that we see
for a successful partnership.

Yeah, so for us at BNY Mellon,
we really look at the buy, build,

or even a hybrid model as being
key for accelerating innovation.

We embrace it because we know
that we can't build everything.

And for us to keep up with the pace of
change, we have to find key strategic

partners that are in technology, that are
VCs, that we can really work with, that

really helps us with ideation and building
and ideally pulling something together so

So that's what's key for us at Make It
or Run is really how do we accelerate our

time in the market to really bring things
to our clients and, internally to really

support our overall strategic initiatives.

We find that partnerships is,
the key to partnerships is really

about how do you get more from just
a, beyond a vendor relationship.

So how do you make 1 plus 1
equals 3, 4, or 5 versus just 2.

And for us, it's if it's something
that brings us a brings us efficiencies

to our operations faster, or we get
a deeper understanding of how that

technology can be integrated across the
organization, then that, to us, is where

Also, we just go through a vendor
relationship like we do with all of

It's finding those right partners that
really have the vision and goal that we

align with, that we know that's going
to bring us More than what we expected

I see it as, it's essential to everything
that we do in corporate America.

I'll, the, legacy incumbents are
heavily embedded with the organization.

So if you're a FinTech early start stage
company, that's really getting started.

Building your technology to be
interoperable with those big tech

I feel like that's where you're
going to find the most success

Versus if you're not, then actually
you'll be much more likely a threat.

Because I don't see the big tech
going anywhere anytime soon.

And trying to unseat them at large
organizations is, it's a big task.

And so it's important that
early stage technology companies

as a partner also, and how they
can actually be interoperable

and be integrated with the
technology that's already been

The key for us for a
successful partnership is a

The first is really about
vision and vision alignment.

So we have to make sure that the companies
that we're looking to partner with has

the same vision that we have, that we are
clear about where they're trying to take

their companies and that it aligns with
where we're trying to take our companies.

If they don't, then actually the
partnership is most likely not

So that's the first thing
is alignment of vision.

The second one is really about sponsorship
and that's really a sponsorship on

our side and in the corporate side
where we have to make sure that we

And so for us, that's typically
companies that are that's typically

Senior leaders that are executive
committee level or higher.

And then on the, FinTech side,
it's about making sure their board

members and their, investors on the
cap table, the significant ones, are

So we have to have that sponsorship
that's solid on both sides that

gives us the support to move forward
with our partnership arrangement.

And then it's just really around
the, all the key things around

Just making sure that the companies
are, the technology companies are

appreciative of and acknowledge that
working with large FinTechs it's, a,

it can be a burden when it comes to
onboarding for a new company particularly

And so having that appreciation and
being able to be patient, I would

say is going to be key for that
successful partnership to be in place.

And then for us, it's also being able
to point out the challenges that we see

And being clear about that
and transparent is key.

Without having that transparency
it's very likely that the company on

the FinTech side will be surprised
when they come up with hurdles and

then they can't address them at the
speed we're looking to address them.

Those are keys that we see
for a successful partnership.

Fintech Insights

Expert Insight

Fintech Insights explores strategic partnerships with Dexter Wilson, Senior Director, Strategic Partnerships at BNY Mellon while at Finovate Spring.