Fintechs must develop skills to choose the right bank to collaborate with for compliance, infrastructure support, and growth opportunities. Chafic Haddad, Citi's Global Head of Fintech Sales, discussed the importance of selecting fintechs based on their growth potential and long-term ambitions. Citi aims to build sustained partnerships over 5-10 years, offering tailored resources across their various banking sectors. This structured approach allows fintechs to expand from basic services to more sophisticated endeavors like capital markets, ensuring holistic development and scalability in their home and global markets.
Choosing the right bank to work with is essential for fintechs to enhance their growth while ensuring compliance and maximizing their potential beyond just being clients.
Citi takes a meticulous approach in selecting fintechs based on growth potential and alignment with their ambitions to operate beyond local markets.
Chafic Haddad emphasizes that Citi aims to foster long-term relationships with fintechs, providing support that evolves over a minimum 5-10 year timeline.
The structure of Citi's fintech partnerships includes differentiation between small to medium fintechs and more established unicorn types, allowing tailored support to businesses at different stages.
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