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Forbes
a day ago
- Business
- Forbes
How Fintech Founders Can Sharpen Their Pitches
Paul Davis, Founder, Bank Slate. If you're building a fintech company and hoping to partner with banks, you've probably been instructed to 'tell a great story.' You've also likely been told to highlight your regulatory compliance, technical chops or product vision. The truth is that neither approach will succeed in isolation. That's a key lesson I have gleaned from conversations with bankers, investors and fintech founders. These discussions—paired with years of consulting for banks and fintechs—have reinforced a few critical learnings I believe every founder should take to heart. Balance storytelling with substance. Yes, a compelling narrative matters. Banks want to know your 'why.' But, too often, founders lean so heavily into the vision that they forget to ground it in reality. A pitch without substance might grab attention, but it rarely leads to a deal. On the flip side, I've seen technical pitches—heavy with regulatory compliance, architecture and acronyms—fall flat because there's no clear narrative arc explaining why it all matters. The best pitches marry 'why this matters' with 'how this works.' Founders who can weave both elements into their outreach and meetings stand a far better chance of moving from conversation to contract. Don't just hear 'no'—learn from it. Let's be clear: Founders are going to hear 'no' a lot. It's part of the process. But the founders who learn from the 'no' tend to be the ones who make progress and grow fastest. When a banker or venture capitalist declines to move forward, try to understand why. Was it about timing? A misalignment in the budget? An unclear fit with strategic priorities? Smart founders treat rejection not as a dead end, but as market feedback. Every 'no' is a breadcrumb that can refine your product, pricing and positioning—or all three. Check your ego at the door. In my consulting work, I often see founders fall in love with a solution that's clever and elegant, but it isn't what banks are prioritizing. Bankers are hyper-focused on four areas: net new deposits, noninterest income, back-office efficiency and fraud prevention. Founders who can directly align their pitch with these priorities are much more likely, in my experience, to earn a second meeting and a contract. That sometimes means letting go of the original idea—or at least reconfiguring it. The goal isn't to force banks to see your product your way. It's to frame your solution in terms of their urgent needs. Less ego. More empathy. Map the org, not just the opportunity. One of the most tactical and actionable suggestions I have heard involved leaning into network maps—a strategy I've since started recommending regularly to clients. A network map is a visual or conceptual diagram that illustrates the relationships, roles and influence dynamics within a specific group. Address key questions about your relationships. Who are the key players? How are decisions made? Who are the influencers? What bottlenecks exist? When selling to a bank, you're not just selling to a single stakeholder. You're selling to a system. That means identifying your internal champions, understanding who controls the budget and knowing who needs convincing. Most importantly, it involves preparing for what happens if your contact leaves, changes roles or loses internal influence. Founders who track these dynamics early on build resilience into their sales process and avoid starting from scratch when internal dynamics shift. As the fintech landscape matures, the bar for effective bank partnerships continues to rise. Founders need more than a novel idea—they need a pitch that resonates with institutional pain points, aligns with buying dynamics and survives the internal politics of a risk-averse industry. That balance of vision and execution is where the most meaningful partnerships begin. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
Forbes
16-06-2025
- Business
- Forbes
Ten Steps To Navigate The Regulatory Reset
Paul Davis, Founder, Bank Slate. If you feel like we've stepped into a DeLorean and gunned it to 88 mph, you're not alone. Many anticipated that a second Trump Administration would unwind Biden-era financial regulations. Few, however, expected the rollback to come this fast or hit this hard. In just a few months, regulatory dials have been spun with a velocity that would make Doc Brown's head spin. The Consumer Financial Protection Bureau (CFPB) withdrew 67 interpretive rules in a single day—a dramatic move that underscores the speed of change now underway. This reset isn't confined to obscure policy corners. It's sweeping across the regulatory spectrum: consumer protection, crypto oversight, M&A, reputational risk and more. We are witnessing a wholesale dismantling of key regulatory scaffolding. Assumptions that held true even six months ago no longer apply. The result is a dramatically reshaped environment in which banks and fintechs must reassess strategy, compliance and risk in real time. For institutions hoping to stay ahead, agility and foresight are now paramount. Below, I will distill the most consequential reversals and share steps financial leaders can take to adapt with confidence. The CFPB, for instance, filed a motion for summary judgment in the U.S. District Court for Eastern Kentucky to undo its own open banking rule. The Office of the Comptroller of the Currency (OCC), meanwhile, took steps to rescind a 2024 policy statement that enhanced its review of large bank merger applications. The Federal Deposit Insurance Corporation (FDIC) informed banks it supervises that the agency does not need to sign off on plans to pursue certain crypto-related activities. While federal oversight is receding, the notion that risk is disappearing is dangerously misleading. What we're seeing is not the disappearance of regulation but a shift in its gravity—ideologically and geographically. As federal agencies pull back, state lawmakers and regulators will step forward. The New York state attorney general recently filed a lawsuit against Capital One, alleging that the financial firm used 'bait-and-switch tactics' with its online savings account customers after the CFPB backed off the issue. The California Department of Financial Protection and Innovation hit Hatch Bank with a consent order that took issue with the bank's AML/CFT compliance. The takeaway? Financial institutions must closely monitor state-level activity to avoid being blindsided. To be sure, this is not the moment to chase every high-growth opportunity. I am not recommending that institutions jump into BNPL, crypto or tokenized lending. But I am strongly advocating that executives build fluency in these models, understand emerging risks and develop documented rationales for why certain paths are—or are not—being pursued. Even opting out requires strategic intent. Here are more things to keep in mind as the tide shifts. 1. Stay educated—but selective. Deepen your understanding of emerging models such as embedded finance, tokenized payments, digital wallets and AI underwriting. It will help you cut through the hype and evaluate real alignment with your mission. 2. Watch the states. Assign someone to track state-level legislation and enforcement, especially in your core markets. Many future compliance risks will originate outside Washington. 3. Govern with discipline. Deregulation has lowered the waterline, but sound governance is still your best defense. Revisit board oversight, vendor risk reviews and incident response protocols. 4. Map third-party risk. As federal supervision recedes, risk flows downstream. Evaluate your fintech partners and vendors. Understand how their compliance gaps could become your exposure. 5. Use the breathing room to modernize. Take advantage of the regulatory reprieve to upgrade core systems, strengthen data governance and invest in scalable RegTech solutions. 6. Scenario plan for emerging enforcement themes. Even amid rollback, new priorities will emerge. Prepare for future scrutiny around AI bias, synthetic identity fraud, privacy and algorithmic discrimination. 7. Strengthen culture and ethics programs. Public expectations remain high. Use this time to reinforce values and train teams, because internal discipline is still your first line of defense. 8. Maintain BSA/AML vigilance. Despite the deregulatory trend, BSA/AML remains a top enforcement priority. Keep enhancing transaction monitoring and SAR protocols. 9. Stay engaged with regulators. Regular communication with examiners builds trust and helps anticipate changes before they become challenges. 10. Document, don't assume. If your institution is adapting policies or pausing initiatives based on the current regulatory tone, put it in writing. Examiners under future administrations may ask why. Deregulation may lighten the compliance load in the short run, but it doesn't eliminate risk. Reputational and operational risks remain very real. The most successful financial institutions will treat this moment not as a green light to accelerate, but as a rare chance to modernize, reassess and build long-term resilience. This year's regulatory shifts are not a pause. They are a pivot—and those who pivot with purpose and discipline will position themselves to come out ahead. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. 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