CIBC, NAB and Bank Leumi open portal for fintechs to make pitches

CIBC, NAB and Bank Leumi open portal for fintechs to make pitches

Canada's CIBC, Israel's Bank Leumi and National Australia Bank have launched a joint global online portal from where fintech firms can submit them proposals.

The new site is designed to streamline the partnership process for fintechs by providing clear visibility of the customer problems facing banks and a channel for submitting proposals to the right people in the organisation.

Interested firms visit the portal, pick one of the problem areas identified by the partners - e.g. providing value added services to SME customers - and then choose which of the bank(s) they want to pitch to before outlining a proposal.

Jonathan Davey, EGM, digital and innovation, NAB, says: "In big and complex banks like NAB, CIBC and Bank Leumi, it can be a challenge for fintechs with good ideas to find the right path to the right people, where their concepts can be appropriately considered.

"This new platform provides a simple and easy process for fintechs to help connect them into the bank where we can connect that idea to the right people who may be interested in what they have to offer and how we might be able to work together, no matter where they are based."

The platform, currently up as a pilot, is part of an "innovation alliance" formed in 2016 that sees the banks share strategies for improving client services in the digital age. The three say that by working with partners on different continents they can comfortably share proprietary information and co-develop products and services.

Comments: (1)

Jonathan Almeida
Jonathan Almeida - AML Partners - Franklin 13 June, 2019, 11:01Be the first to give this comment the thumbs up 0 likes

Jonathan Davey, how do i get in touch with you?