Fintechs Under Pressure

If You Build it, They Still Might Not Come

Fintech solutions abound in the treasury space. But is the level of creativity and production of these tools matched by treasury’s appetite to use them? If not, why not? TMI explores the current appeal of the fintech solution from the perspectives of treasurer and fintech.

There’s an often but slightly misquoted line from the 1989 film Field of Dreams that suggests ‘if you build it, they will come’. It’s a notion that has been used variously in a commercial context to suggest that when thought and energy are put into the creation of a solution, a market will naturally develop.

But there is more to success than simply building a useful tool; at the very least, the potential client base has to know about it, and then buy in to its advantages, before investing time, effort and money, especially when there are so many other solutions – and challenges –competing for their attention.

Arguably then, the creative side of a fintech build is the easy bit. It’s the taking of the product to market that is the serious challenge for many providers, whether large or small, across all sectors and industries. Indeed, according to research by Clayton Christensen, a professor at Harvard Business School, nearly 30,000 new products are introduced each year and 95% of them fail.

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