Collaborations between banks and fintechs are often characterized by significant cultural differences, which commonly lead to failures in building partnerships and seeking funding from potential investors. The typical problem is that each party feels misunderstood by the other. BearingPoint, a leading management and technology consultancy, has acquired a wealth of experience in supporting start-ups, and bridging cultural and communication gaps, through the development of its own venture capital practice, BearingPoint Ventures. Aim is to build trusted relationships. BearingPoint strives to preserve the start-up’s creativity, passion and flexibility, whilst helping to build the organizational foundation and business network critical for future growth. BearingPoint does so through supporting the following core management activities:

• Providing market expertise

BearingPoint provides start-ups with the opportunity to benefit from its years of market experience and vast network to get a leg-up in today’s competitive markets. Besides alerting and supporting its partners about best-in-class products and processes, the consultancy provides know-how about the most relevant market players and helps forge relationships with potential clients. For young companies, the latter is an especially valuable service, where BearingPoint helps to bridge the credibility gap between start-ups and established institutions.

• Critically reviewing business cases

A business case serves two primary purposes. First, it serves as a tool for founders to structure and categorize their ideas. Second, it provides the foundation for potential investors to understand the feasibility and potential of a business idea. BearingPoint combines know-how about comparable products with deep sector expertise to critically assess business cases and support start-ups in achieving their ambitious targets. Furthermore, BearingPoint is in close contact with corporate venture capital funds and traditional venture financiers to help start-ups raise capital and negotiate favorable terms.

• Supporting administrative tasks in day-to-day management

Typically, the management team of start-ups – usually synonymous with the founders – is motivated to develop its ideas, build a product, and bring it to market as fast as possible. During this turbulent and exciting period, the organizational and administrative development of the company is often neglected, becoming a source of turmoil later in the growth cycle. Oftentimes, the management de-prioritizes these challenges in favor of revenue growth, and/or is simply lacking the requisite skills and experience. This is a key area where BearingPoint can support the management in building the necessary organizational structure and providing the training to up-skill employees on the appropriate administrative or regulatory tasks.

BearingPoint is excited to guide the winners of this year’s EURO FINANCE TECH Awards through the turbulent growth period ahead.