What Banks Build vs. What They Buy

Richo Strydom explained how Crown Agents Bank uses a hybrid approach: building internally where agility and control are needed, and buying externally for specialised or commoditised solutions. 

He noted that for fintechs to succeed, they must address operational resilience, data security, and regulatory standards early. Certifications like ISO 27001 or SOC 2 aren’t optional—they’re prerequisites.

The Dangers of “Happy Ears” in Sales

David Harding shared a crucial lesson for founders: be careful of “happy ears”—when someone at a financial institution is enthusiastic but has no purchasing power. While interest may feel promising, it doesn’t mean a deal is near. David stressed the importance of identifying the real budget holders and decision-makers early in the process, and not wasting resources on prospects that lack internal alignment.

Founders: You Have the Power—Use It

Christian Nentwich offered a founder’s perspective, emphasizing the importance of staying focused. Early in his journey with Duco, he pivoted away from Tier 1 banks to target hedge funds and early adopters—only returning to the big players later with strong traction. 

His advice? Don’t chase big names at the expense of survival. Instead, focus on where you can win today. And always lead sales conversations yourself in the early years—your credibility as a founder opens doors that sales reps can’t.

From Pilot to Paid Contract: Navigating Procurement

All panelists agreed that procurement is a minefield for fintechs. Banks will often entertain pilots or POCs without the intention or ability to scale. Christian shared that their win rate for paid pilots was far higher than unpaid ones, suggesting that fintechs should consider charging even a modest fee to ensure buy-in. 

David added that while sales cycles can feel slow, with the right champion and strategic alignment, large contracts can be secured in under six months.

Final Tips: What It Really Takes to Win

As a takeaway, the speakers offered these hard-won insights:

• Understand the buying process inside financial institutions—don’t just focus on your own sales funnel.
• Know who holds real decision-making power and tailor your message to their top 3–5 priorities.
• Be ready with operational and security credentials—risk is non-negotiable in banking.
• Build trust and stay persistent. Deals may take time, but relationships matter.

Thank You to Our Community

FINTECH Circle would like to thank Accenture for their partnership and ongoing support through the FinTech Innovation Lab. A special thanks to keynote speaker Tom Graham, our brilliant panelists Richo, David, and Christian, and to the founders, investors, and fintech enthusiasts who made the evening such a success.

We look forward to continuing these vital conversations and supporting fintech scaleups through curated networking, strategic guidance, and high-impact events.