Before stepping into the US Banking market with your Fintech, consider these three crucial questions:

1. 𝗛𝗮𝘃𝗲 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝘀𝗼𝘂𝗿𝗰𝗲𝘀 𝗰𝗼𝗻𝗳𝗶𝗿𝗺𝗲𝗱 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝗶𝘇𝗲?

For instance, if targeting Jack Henry banks using Q2…

– Do you have a understanding of the target market?
– Have you validated it?
– No seriously… have you seen the data?

2. 𝗖𝗮𝗻 𝘆𝗼𝘂 𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝗰𝗮𝗽𝘁𝘂𝗿𝗲 𝗮 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝘀𝗵𝗮𝗿𝗲 𝘄𝗶𝘁𝗵𝗶𝗻 𝗮 𝗿𝗲𝗮𝘀𝗼𝗻𝗮𝗯𝗹𝗲 𝘁𝗶𝗺𝗲𝗳𝗿𝗮𝗺𝗲?

Remember, bankers tend to make decisions slowly and conservatively and have many options.

Focus on:

– Building brand recognition
– Create a no-brainer, low-lift offer
– Craft a compelling story about a banker’s problem
– Connect the dots and showcase how you will solve
– Create a bullet-proof vendor management & risk case

3. 𝗪𝗶𝗹𝗹 𝘁𝗵𝗲 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝗲𝗱 𝗧𝗖𝗩 (𝗼𝗳 𝘁𝗵𝗲 𝗶𝗻𝗶𝘁𝗶𝗮𝗹 𝘁𝗲𝗿𝗺) 𝗷𝘂𝘀𝘁𝗶𝗳𝘆 𝘁𝗵𝗲 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻 𝗖𝗼𝘀𝘁 (𝗖𝗔𝗖)?

– Can you recover any implementation fees quickly?
– Can you recover any allocated costs for leads and sales?


If your answer to all three questions is no, it might be time to rethink your strategy.

The US Banking Market is large but not impenetrable.

Pay attention to the big factors, or select a different market segment.