Why Fintechs Need to Drop the VendorSpeak

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Listen up, FinTech vendors. If you’ve been fortunate enough to get invited to present to the senior management team of one of your large bank clients on industry trends, I have some advice for you: LOSE THE VENDORSPEAK.

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A decent-sized bank recently held a “summit” bringing together a cross-section of senior execs from various lines of business and functions to discuss “digital” opportunities. After I presented my thoughts and ideas on the subject (the quality of which I’ll let others decide on), two large vendors (who already do business–significant business–with the bank) came in to present.

Both presentations failed miserably. And that’s not just my take on it. I was sitting next to the CFO. After one of the vendor’s presentation, I asked him what he thought of it. “Waste of an hour.” Ouch.

After the last session off the day, the exec who brought the vendors in apologized to a few folks who hadn’t left yet for the poor presentations. Double ouch.

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What did the vendors (one, in particular) do that was so heinous?

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