Tuesday, March 4, 2014

Live From All Payments Expo & FinTech Partnerships - Morning of Day 2

The first session of the morning was a very informational discussion -  Partner or Perish: Corporate Venturing's Role in Payments Partnerships

Jim Hale - FTV Capital

Robert Schiff - McKinsey & Company
Kevin Jacques - Intuit
Jay Reinemann - BBVA

Presentations from:
Shamir Karkal - Simple
Michael Diamond - Mitek
Discussion highlights:
2013 Corporate Venture Capital Investment in US:
- First non bubble year ever that more than 10% of the total VC deployed came from corporate VC groups
- Total CVC invested up to 39% in 2013 over 2012 (3.1B vs 2.2B)

Pitfalls to get VC partnerships started - how to go to market and convince your corporate management team:
- Executive leadership team, forward thinking and understanding the problem
- Show the cycles to your management team, walk them through the longevity
- Need curiosity
- Be careful how you set up the governance mechanism
You need to measure success both strategically and financially - where is the partnership going and are you on the right path?

Remember to track the impact that your team is having.

10 years ago advantage rested alone with the largest companies - today the situation is almost completely reversed because of small and medium businesses new adoption and solutions.

2.5 million money making households outside the banking industry - tapping this market has a high potential. The concept; build new payment rails that will force adoption.

Thank you to the outstanding panel and stay tuned for more live recaps from All Payments Expo & FinTech Partnerships.

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