How Synpulse and F10 are breaking barriers in the FSI
Estimated reading time: 4 minutes
Raphael Bianchi, Senior Partner and Switzerland Country Head, Synpulse, and CEO of Synpulse8 speaks to EITN about the significance of the partnership for the fintech industry.
EITN: Besides an investment of its annual revenues, what does the partnership between Synpulse and F10 bring to the table for the fintech industry?
Raphael: Synpulse and F10 are two powerhouses joining forces alongside other investors to shape the future of banking and insurance.
F10’s mission to unite tech startups with big businesses is well aligned with Synpulse’s 25 years of management consultancy experience and network.
Synpulse will support F10 to break down barriers in ecosystems by empowering and connecting organisations in the financial services industry, and ultimately revolutionizing what has been a rather traditional industry.
EITN: What will be the top criteria to select promising startups to fund?
Raphael: Amidst the stiff competition amongst startups, F10 seeks exceptional founders who think in an agile and scalable manner. It is imperative that a fintech startup possesses these criteria to qualify for the F10 programme, and to potentially win clients with their business solutions.
F10’s mission to unite tech startups with big businesses is well aligned with Synpulse’s 25 years of management consultancy experience and network.
EITN: In your own words, what is the role of a startup accelerator? Why does Synpulse choose to partner with a startup accelerator to leverage the growth of the fintech market?
Raphael: The F10 team has the ability to identify promising new fintech startups adeptly; and support them from the very beginning and through their growth stages. At Synpulse, we help innovative fintech solution providers meet the needs of the incumbent players in the Financial Services Market. One example is the foundation of the OpenWealth Association, where we help to define a market-wide API standard to connect wealthtechs with their custody banks.
Synpulse and F10 have a natural synergy – both with a common focus on financial services and startups. This will be advantageous for the two companies to identify the most promising startups and provide the support needed to fuel rapid growth. In addition, it provides Synpulse the chance to pinpoint up and coming services that could become relevant to its customers – a win-win for more established brands and innovative challengers alike.
EITN: Are there any geographies that Synpulse has identified as ripe to really take advantage of the growing fintech industry?
Raphael: The pandemic has caused a massive digital transformation in every industry across the globe. And while the financial services industry is catching up with these dramatic changes, there is still so much work to do. At Synpulse, we believe that there is a silver lining to every circumstance. Our new strategy dictates we be where our clients are.
For example, we have recently launched new offices in Luxembourg, Taipei, and Shenzhen to be closer to our growing clientele in these regions. In addition, we have launched our tech powerhouse, Synpulse8, to provide innovative solutions that are built upon the core pillars of strategy, technology, and design, and to drive value for our clients and their customers.
EITN: What are Synpulse’s plans for the next 2 to 3 years, in terms of this partnership, and overall continuing to take advantage of the fintech industry’s growth?
Raphael: As a member of the F10 Board, I will continuously chart the strategic direction of the growing Fintech and Insurtech ecosystem, with the greater goal of driving meaningful innovations.
Synpulse will continue to break down barriers in ecosystems; maintain and strengthen our core offering as an advisor to the largest financial services companies; and expand our technology advisory services through our tech powerhouse, Synpulse8.
As an investor, we (Synpulse) will help create global connections between the most innovative startups and the more established players – increasing the chances of these startups’ solutions becoming widely adopted.
Synpulse will continue to break down barriers in ecosystems; maintain and strengthen our core offering as an advisor to the largest financial services companies; and expand our technology advisory services through our tech powerhouse, Synpulse8.
Finally, we will also continue to work non-traditionally and think out-of-the-box to push for innovation and collaboration across the globe with our peers and young organisations, to shape the future of the banking and insurance industries.