15 Sep Fintech 2020: The future of Fintech and how financial institutions are innovating.
Stephen Hazelton, Founder and CEO of Street Diligence, guest panelist at Fintech Week New York.
Stephen Hazelton, Founder and CEO of Street Diligence, spoke at Fintech Week New York discussing the future of Fintech and how financial institutions are innovating.
The focus of the panel was on three key themes:
- New Models of Banking
- Technology Adoption through Partnerships
- The Future of Fintech
As a thought leader in the space, Stephen discussed and positioned each theme from his experience both as an entrepreneur and an investor.
A key takeaway from the panel was his views and experience on selling software into banks.
“It took a long time to crack the recipe of selling into big investment banks. The sales cycle is 2-3 times longer than it is selling into hedge funds or asset managers. The salesperson needs to support business user on the client side who wants the product or the service and they need to help push that internally. A lot of signatures are required but the benefits are great; it’s sticky revenue, it gives you great credibility and the user base churns and moves onto other prospective clients. Those clients leave to join the buy-side or go to another bank and that provides an organic client lead. While they’re extremely valuable clients, I would not put all your eggs in one basket and go after investment banks or commercial banks exclusively as a client base. I would diversify across easier, lower hanging fruit, for diversity.”
- Azim Lila, Digital Strategy – CIBC
- Tim Baker, Global Head of Innovation – Thomson Reuters
- Stephen Hazelton, Founder & CEO – Street Diligence, Inc.
- Joe Ziemer, VP Communications – Betterment
About Fintech Week New York
Fintech Week New York is a week-long, content rich event to unite New York’s Fintech ecosystem with a national and international audience. The week is anchored by a series of niche conferences on Blockchain, Capital Markets, Banking/Insurance, and Money/Payments. The conference is fast paced, with a diverse group of speakers and panelists.