Subject: Need by Client of Distribution Network
As it is often the case, a client needed to expand its distribution network in a region and wanted MWC to provide, introduce and help negotiate terms with the appropriate parties.
Our Task Was
Finding the names of companies that serve regions or certain markets in the international money transfer & payments market is not difficult. Participating in an IMTC conference will probably do the trick. Or being a sponsor could be the way. But sometimes, especially if the company is new or it has no volume to the intended market, it is almost impossible to establish, efficiently, partnerships to obtain the needed distribution network.
What We Did
- Suggestions: After a thorough list of possible partners was established we analyzed with the company’s management team the pros and cons of each one and the strategy to approach them.
- Contacts: Contacts were made and the approach initiated: sometimes the MWC team by itself, a joint approach or an independent approach, to gain efficiency and success.
- Conditions were discussed with the partnerships initially reached and new strategies were discussed for the ones that were not open to negotiations.
- In certain cases aggregators were suggested to use their distribution networks and develop a significant volume.
A considerable distribution network was developed, exceeding expectations in terms of size and time to market.
Some institutions are content with the partners already in place and engaging new partners takes time and money, specially if integrations demand expense in time and software developments as well as compliance due diligence (which might delay the time to market). Also, time is of the essence.
* Note: The case studies are real although we have changed some of the details to respect the privacy of our clients.