Situation
A start up technology company providing software to the financial industry wanted to enter the U.S. market to provide connectivity between financial institutions and fast payments systems. The client’s solution was particularly well suited for the long tail of U.S. financial institutions wishing to connect to U.S. fast payments systems. Glenbrook was asked to help the management team quickly understand the U.S. market and apply strategies to support the company’s longer-term growth objectives.
Approach
Glenbrook structured a monthly advisory agreement to help the management team answer key questions including:
- What are the financial institutions perceptions of different fast payments systems?
- What is important to them when seeking a connectivity partner (i.e. how critical is compliance, pricing, etc.)? How does this vary by institution segment (i.e. small credit union vs. regional bank)?
- What are possible go-to-market strategies for the company? Which is best aligned with the client’s unique value proposition relative to competitors?
- How should they price our services?
- How does the company best build market credibility (relationships with regional associations, individual financial institutions, processors)?
Impact
Glenbrook helped the start up better understand the uniqueness’s of the U.S. market and the instant payments ecosystem. We also supported key introductions for the client and helped with other essential go-to-market efforts like staffing and market credibility.
