Fernando Torres Figueiredo, a extremely likeable and extremely educated Companion on the consulting behemoth McKinsey & Firm, took day out from his first FMLS to talk with me and share some fascinating insights on the state of the Fintech scene, in addition to share some invaluable recommendation on how one can launch and scale up a neobank.
Fernando has been with McKinsey & Firm since 2015, beginning as a Digital Skilled, and has a wealth of expertise consulting with a few of Europe’s largest fintech firms.
After explaining what his job as a Companion at McKinsey & Firm entails: he helps giant organisations and start-ups “actually overcome a few of their largest challenges by making use of digital expertise in new methods to truly function,” Fernando then went on to explain how McKinsey, approaching its 100-year anniversary, has tailored to as we speak’s fast-paced fintech world: “What we’re attempting to consider is how can we really assist drive progress for organizations that feel and appear completely different.”
Fernando was vital of the standard banks not embracing Fintech expertise a lot earlier: “We do not see giant organizations within the final, perhaps for the final 10 years being very strategic about and really purposeful in the way in which they’re really focusing their funding.”
Discuss moved from the previous and current points going through the fintech world, Fernando spoke of what banks must do within the subsequent 5 years, which basically boiled down to 2 issues: “adopting extra of the expertise suppliers’ infrastructure,” and “bettering their merchandise.”
The subject moved to challenger banks and neobanks. “The one factor that they’ve rather well is to give attention to the shopper and that has allowed them to win some fascinating house.”
Neobanks in Focus
Nonetheless, after detailing what the neobanks have been doing proper, Fernando defined what he thought they’ve been doing mistaken: “The one factor they have not performed as a lot is to actually give attention to the income era and worth creation out of that buyer expertise.”
The discuss then moved to the affect of the pandemic and Fernando spoke optimistically of the fintech scene over the subsequent 5 years: “banks can be way more prepared to soak up innovation than they’re as we speak” earlier than giving recommendation on how a brand new challenger financial institution can succeed:
“It’s worthwhile to actually perceive what’s your path for scale how are you going to get to your first 100,000 prospects to your second 200,00 prospects how do you get to 5 nations and the way do you get to 1,000,000 prospects?” he acknowledged, extrapolating a bit additional earlier than ending an gratifying interview and disappearing into the FMLS crowd.
Catch the remainder of my interviews at FMLS right here.
Fernando Torres Figueiredo, a extremely likeable and extremely educated Companion on the consulting behemoth McKinsey & Firm, took day out from his first FMLS to talk with me and share some fascinating insights on the state of the Fintech scene, in addition to share some invaluable recommendation on how one can launch and scale up a neobank.
Fernando has been with McKinsey & Firm since 2015, beginning as a Digital Skilled, and has a wealth of expertise consulting with a few of Europe’s largest fintech firms.
After explaining what his job as a Companion at McKinsey & Firm entails: he helps giant organisations and start-ups “actually overcome a few of their largest challenges by making use of digital expertise in new methods to truly function,” Fernando then went on to explain how McKinsey, approaching its 100-year anniversary, has tailored to as we speak’s fast-paced fintech world: “What we’re attempting to consider is how can we really assist drive progress for organizations that feel and appear completely different.”
Fernando was vital of the standard banks not embracing Fintech expertise a lot earlier: “We do not see giant organizations within the final, perhaps for the final 10 years being very strategic about and really purposeful in the way in which they’re really focusing their funding.”
Discuss moved from the previous and current points going through the fintech world, Fernando spoke of what banks must do within the subsequent 5 years, which basically boiled down to 2 issues: “adopting extra of the expertise suppliers’ infrastructure,” and “bettering their merchandise.”
The subject moved to challenger banks and neobanks. “The one factor that they’ve rather well is to give attention to the shopper and that has allowed them to win some fascinating house.”
Neobanks in Focus
Nonetheless, after detailing what the neobanks have been doing proper, Fernando defined what he thought they’ve been doing mistaken: “The one factor they have not performed as a lot is to actually give attention to the income era and worth creation out of that buyer expertise.”
The discuss then moved to the affect of the pandemic and Fernando spoke optimistically of the fintech scene over the subsequent 5 years: “banks can be way more prepared to soak up innovation than they’re as we speak” earlier than giving recommendation on how a brand new challenger financial institution can succeed:
“It’s worthwhile to actually perceive what’s your path for scale how are you going to get to your first 100,000 prospects to your second 200,00 prospects how do you get to 5 nations and the way do you get to 1,000,000 prospects?” he acknowledged, extrapolating a bit additional earlier than ending an gratifying interview and disappearing into the FMLS crowd.
Catch the remainder of my interviews at FMLS right here.
