Who Participates in FinForward?

Challenges of Onboarding & Integration

Collaboration between Fintech companies and banks is the key to accelerate the digitization of the financial sector. Forging mutually beneficial long-term relationships with financial institutions is the dream. What gets in the way?

Onboarding

Fintech companies find it extremely challenging to find opportunities to pitch to decision-makers and onboard banks as customers.

Integration

It can take Fintech solutions up to 12-18 months to integrate to each financial institution.

Early-stage Fintech startups end up burning through a large part of their cash runway integrating their solution to their customer's legacy systems. Even established Fintech companies struggle to integrate their solutions as it requires a significant amount of resources.

Why Participate?

Painless Integration

FinForward does all of the heavy-lifting! We pair you up with African Financial Institutions and Mobile Money Providers seeking Fintech solutions like yours. We then integrate your innovative Fintech solutions with their legacy banking systems in record time via 4wrd.

FinForward offers a new multi-way technology integration model through 4wrd, the platform that supports Fintech companies as they grow and scale up via seamless, painless integration.

Proof of Concept

Fintech companies get to test and validate their proof of concept even before they establish a relationship with a bank using BankBot.

BankBot is a&b’s bank simulator, a utility where Fintech companies can test their solutions with a bot that simulates the most relevant operations/services of a bank using dummy data (accounts, clients, transactions).

Lowering
Entry Barriers

You won’t burn through your cash trying to onboard and integrate with banks.

Unparalleled Access
to African Markets

Gain unparalleled access to African Markets. It’s an opportunity to connect your solutions with participating FIs and MMPs without spending a cent.

Advice &
Guidance

Series of webinars designed to accelerate growth and ensure successful integration and scalability.

Virtual
Program

Your company's staff does not have to relocate during the duration of the program. Instead, you can participate from the comfort of your office, home, nearest coffee shop… anywhere!

Participation Fees

NONE!
no money, no equity, no IP rights


Participating in FinForward is completely FREE for Fintech companies.
You don’t have to pay a fee, grant us equity or share your intellectual property (IP) with us to participate in the program.

FMO and a&b purposely designed FinForward to be completely free for Fintech companies to lower entry barriers, and encourage the best Fintech companies worldwide to apply.

  • Tech support integrating to 4wrd.

  • Test your Fintech solutions on BankBot, a&b's tech sandbox/bank simulator, before integrating with participating FIs/MMPs. 

  • Integrate your Fintech solutions with African FIs and MMPs to gain unparalleled access to African markets.

  • Webinars designed to accelerate growth and ensure successful integration and scalability.

  • Participation at Demo Day (program finalists only)

Digital Transformation: an Expensive Affair

For Financial Institutions, the digitization of their core business, and implementing innovative digital strategies is top priority. Banks recognize Fintech as a game changer that allows them to increase efficiency and expand their client/product base. However, the time and cost associated with implementing a company-wide digitization and innovation strategy get in the way of their digital transformation process.

Why Participate?

Cost & Time
Effective Solution

We have found that it usually takes banks up to 12-18 months to integrate to each third-party Fintech solution. This imposes significant costs for both financial institutions and Fintech companies.

FinForward allows participants to test different Fintech solutions at once under a secure, controlled environment thanks to 4wrd.

Test Customized
Fintech Solutions

FinForward does all of the heavy-lifting for your institution! We find suitable Fintech solutions that address your particular needs and help integrate your existing core banking systems with innovative Fintech solutions worldwide for a nominal fee.

Tech
Sandbox

Protecting consumer data, privacy and security systems of our partner institutions is one of our top priorities. a&b will test Fintech solutions on a tech sandbox before integrating them with your institution.

Our tech sandbox gives participating FIs the opportunity to test Fintech solutions under a secure, controlled environment that won’t compromise their data or systems.

Accelerate Your
Digital Strategy

Series of webinars and workshops designed to help accelerate your digital transformation process.

Participation Fees

Participating FIs pay a nominal fee to participate in FinForward based on the FIs worth in assets. It is a cost-effective alternative for an institution to invest in Fintech solutions and its own digital transformation process. For more information on participation fees contact the FinForward team.

What Is Included?

  • Fintech Opportunity Scan

  • Identifying and matching Fintech solutions

  • Webinars to support your digital strategy

  • Tech support integrating to 4wrd  

  • Access to 4wrd Sandbox for Testing Fintech solutions

  • Integration with selected Fintech companies using 4wrd until the program ends in March 2018

  • Demo Day Participation where successful integrations will be showcased

Assets

Fees

< USD $300M

USD $15,000

USD $300M - $600M

USD $30,000

USD $600M - $999M

USD $40,000

USD $1B +

USD $70,000

Expand Your Products, Services & Client Base

Mobile Money Providers, Mobile Money Operators and Mobile Wallets offer many different types of mobile money transfers; mainly, enabling payments and movements of value that originate from a mobile wallet. FinForward is a strategic Fintech innovation program for the financial sector in Africa and other emerging markets. FinForward supports MMPs who are looking to expand their products/services portfolio and/or or client base while reducing operating costs by leveraging FinTech solutions.

Why Participate?

Accelerate Your Digital Transformation Process

Series of webinars and workshops designed to help accelerate your digital transformation process.

Need help designing your digital strategy?
Sign-up for FinForward’s Discovery Program. 

Cost & Time
Effective Solution

We have found that it usually takes institutions up to 12-18 months to integrate to each third-party Fintech solution.

This imposes significant costs for both MMPs and Fintech companies. FinForward allows participanting MMPs to test different Fintech solutions at once under a secure, controlled environment thanks to 4wrd.

Test Customized
Fintech Solutions

FinForward does all of the heavy-lifting for your institution! We find suitable Fintech solutions that address your particular needs and help integrate your existing core banking systems with innovative Fintech solutions worldwide for a nominal fee.

Tech
Sandbox

Protecting consumer data, privacy and security systems of our partner institutions is one of our top priorities. a&b will test Fintech solutions on a tech sandbox before integrating them with your institution.

Our tech sandbox gives participating MMPs the opportunity to test Fintech solutions under a secure, controlled environment that won’t compromise their data or systems.

Participation Fees

Participating MMPs pay a nominal fee to participate in FinForward based on the MMPs worth in assets. It is a cost-effective alternative for an institution to invest in Fintech solutions and its own digital transformation process. For more information on participation fees contact the FinForward team.

What Is Included?

  • Fintech Opportunity Scan

  • Identifying and Matching Fintech solutions

  • Webinars to support your digital strategy

  • Tech support integrating to 4wrd  

  • Access to 4wrd Sandbox for Testing Fintech solutions

  • Integration with selected Fintech companies using 4wrd until the program ends in March 2018

  • Demo Day Participation where successful integrations will be showcased

Assets

Fees

< USD $300M

USD $15,000

USD $300M - $600M

USD $30,000

USD $600M - $999M

USD $40,000

USD $1B +

USD $70,000