Non-Disclosure Agreements (NDAs) pave the way for strategic discussions with the bank’s senior staff as well as the sharing of realistic future product plans by their technology partner.īoth parties can maximize the value of the overall relationship with in-depth meetings that align a bank’s strategy with the technology partner’s product, support, and resource investments. Information-sharing between partners should work both ways. Sharing their plans as early as possible. Mutual trust is the oil that keeps a relationship engine operating at maximum power and efficiency.Īcquisitive bankers can help their primary technology partner prepare and best support their merger transactions by Trust, understand and realize potential synergies, and ease concerns of senior executives and board members regarding how and when identified synergies will be delivered.Įstablishing a foundation of mutual trust To create true business partnerships, as defined previously, bankers must establish foundational Market share within their existing footprint.Īs mergers are both significant and disruptive initiatives, bankers may seek to establish a relationship with close partners to help ensure successful programs. Value of M&A across the financial services sector, which includes banking, capital markets and insurance, more than doubled to $1.15 trillion in 2021, according to Timothy Johnson, a partner in transaction services at KPMG.Īnd according to the research firm Fitch, b anks are expected to continue to pursue growth through acquisitions into 2022, driven by a desire for increased scale and enhanced franchise strength – either through new geographies or by growing Success in bank mergers is not necessarily guaranteed, even as the industry continues to combine. The combined enterprises for long-term success. A strong partnership can ensure transaction synergy goals are met and position With bank mergers and acquisitions booming, the value of strong partnerships between financial institutions and their core technology providers has never been more relevant. Realize that just because something has never been tried a certain way does not mean that it shouldn’t be attempted.Think independently while collaborating for mutual success.Strive to maximize the value of the relationship for every entity involved in a strategic initiative.Become your biggest supporter – and at times they may also be a constructive critic.A true business partner displays certain characteristics that define the relationship more tightly than the usual vendor-customer connection.
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