BankerBay eyes up UK push
02 February 2017 | 2586 views | 0
Bosham Capital Advisors (BCA), Investment, Advisory and Capital Markets Specialists, has been appointed by BankerBay to develop strategic positioning for an imminent sales drive in the UK for their technology-driven disruptive Investment Banking platform, primarily focused on Private Banks and Wealth Management companies.
BankerBay is the world’s largest fully web-enabled global deal origination platform. BankerBay uses a complex algorithmic approach, combined with manual curation carried out by experienced international Bankers to match middle-market corporates seeking capital with the most relevant providers of capital anywhere in the world.
Since its launch just two years ago, the platform has signed up over 12,000 members including Private Equity Firms, Wealth Managers, Private Banks, Corporate Sellers & Acquirers, Real Estate Brokers and Investment Advisors, spread across the globe with a majority currently from APAC (32%), US (31%) and Western Europe (19%), and deal flow spanning 145 countries.
Currently, the platform houses over 3,500 live middle-market transactions with an average deal size of around US$40m, with over 8,500 deals submitted to the platform to date. In December, the platform generated over $US18bn of deal flow. In the first half of 2016, an estimated US$1.3 billion of BankerBay deals were closed successfully.
BankerBay is a ‘tech pioneer’ in the sector with its platform widely recognised as an enabler of vital efficiency and distribution gains within the ecosystem at a time when the market is becoming more fragmented and competitive. Other tangential examples of disruptive technology platforms which have launched alongside BankerBay include UBS's partnership with Amazon that uses Artificial Intelligence to handle customer queries; Merrill’s use of 'Erica,' a virtual assistant in mobile apps which anticipates customer needs and UBS's venture with SigFig, to create digital advice tools for its 7,000 US based advisors.
Romesh Jayawickrama, CEO & Founder of BankerBay commented: “Technology adoption, to date, has been minimal by the private and investment banking industry whilst the relevant transfer of information between companies around the world seeking capital and institutional funds has collapsed, with fewer bankers and much smaller budgets reducing the efficacy of the traditional process even more. Companies are increasingly looking to consolidate, acquire, or merge businesses. Deal making is about making the right connections, and BankerBay is a platform for doing just that, driven by a proprietary technology that facilitates the introduction of two parties based on characteristics common to the deal - just like a sophisticated dating service! We believe that our easy-to-use platform represents a win-for-all solution to these dynamics and this has been endorsed by our significant growth of 800% in value of deals in 2016 alone.”
Adrian Faure, Founder of BCA commented: “BankerBay came to us in mid-2016 with this proposition and we were immediately hooked. There are hundreds of FinTech start-ups with a lot of brains and money working on various alternatives to traditional banking. We look at many disruptive technology businesses in this space but BankerBay with its unique selling propositions grabbed our attention as a practical and cost effective solution to the archaic deal-sourcing processes currently deployed in the mid-market banking sector worldwide.”
BCA, together with Strategic Partner Swinbrook Partners, is currently working with a number of Private Banks and Wealth Managers looking to adopt the platform in 2017.