Financial technology (fintech) is transforming banking. In the UK, a raft of challenger banks are offering new choices and new convenience for consumers. When one of the most technologically advanced – Tandem – needed new growth funding, Convoy spotted an opportunity to expand their investments in the sector.
Convoy, a Hong Kong-based financial services company, had the skills to carry out financial due diligence on the potential investment. But to really understand the value of the technology underpinning Tandem’s business, they needed expert help. With practical technology knowledge, we were able to help and quickly respond to what Convoy needed.
Moving fast to meet time pressures around the potential deal, our software and Agile delivery experts produced a comprehensive assessment of Tandem’s technology. Their report revealed a technology platform that was exceptionally well conceived and unexpectedly mature. With this new insight, Convoy saw a better way to realise the opportunity. Within a year, the company had agreed a £15 million technology licensing deal with Tandem. Convoy will use the platform to offer a range of new digital financial services in Hong Kong and, in time, to launch their own digital bank.
We helped turn the challenge of understanding complex new technologies into a brand-new opportunity for Convoy. As a result, the company are now on the path to becoming a new name in digital banking for millions of Hong Kong consumers.
We helped Convoy spot a new opportunity that set them on the path to becoming a new name in digital banking for millions of Hong Kong consumers. [READ] our new client story