FinTech start-ups are struggling to sell their products as potential customers are uneasy about integrating their offerings, industry experts have said.
Sam Chadwick, who heads up content and product strategy at Thomson Reuters, highlighted the point at an innovation panel at TradeTech in Paris today.
Chadwick explained cost and integration at the customer end resonated as barriers to sales for innovation start-ups, disregarding which assets the product may cover.
Paul Malloy, head of fixed income Europe at Vanguard Asset Management, told the panel deciding which start-ups get his time depends on whether they truly understand the problem and have a solution to present.
Chief executive officer at Portware, Alfred Eskander stressed the importance of market timing when brining new products to market.
He said: “The number one factor is market timing – which we often overlook. If it’s not the right time now, it may be in the near future.”
Panellists also touched on ‘winners’ in start-ups, and named peer-to-peer lending, crowdfunding and blockchain as “very interesting”, as millennial investment strategy changes over time.
Thomson Reuters’ Chadwick, said: “The future will see growth in private equity investment, as it becomes more achievable and reachable to the next generation.”