How FinTechs are thriving in the Google Cloud arena
Hear from account director, Alastair Lumley as he explains how Netpremacy work side by side with Google to help FinTechs to thrive in a digital world.
When Google started it was seen as a disrupter, it wasn’t a new idea, it wasn’t a brand new concept, however, they took an existing service and made it infinitely better. To the point where now when we refer to searching for something we openly help advertise Google themselves.
“Why don’t you Google it?”
Just like how they entered the search engine market and transformed it, Google has done the same and continues to do so in the cloud world, competing with the heavy hitters such as AWS & Azure and year on year, gaining market share and attracting some of the largest logos in the world.
To achieve this Google were openly disrupters in the market. They do this through challenging the status quo, thriving to better what is already out there, and always looking to push the boundaries and improve. Perhaps this is why they are quickly becoming the go-to cloud partner for some of the world’s most innovative and disruptive companies going.
FinTechs, those companies that are integrating technology into the financial services to change the way we access, transfer, and manage our finances. Companies that are at the forefront of innovation.
By nature and design, Fintechs are market disruptors.
The likes of Revolut, Monzo, Starling Bank, Atom Bank, Curve, etc are taking a century-old profession and service, then radically changing how it operates and how we as a consumer utilise those services.
So why is Google building a focused unit around FinTechs?
We recently ran a webinar with the FinTech team at Google to go “under the hood” of Google’s heavy involvement in the FinTech space and what makes it so attractive to them as a cloud provider. To put it simply, FinTechs & Google are extremely similar. They both love to solve a problem using innovative technology, do it better, and change the user’s perception of what good is! This enables a culture that puts the user at the heart of everything they do and builds a community around it. This is something Google has done single-handedly by creating 9 products with over 1 billion users. It’s safe to say, Google are experts in the field.
Community is key to what we are talking about as this has enabled Google to play such a pivotal role in the growth and success of FinTechs. There has been a focus on building out a community focused on FinTechs at Google. This means shaping a team around specific customers and embedding them in the culture of the business. It enables Google to react at speed, with a full understanding and really help drive these businesses forward. They can react quickly to user enhancements, quickly drive product changes, advise on direction and best practice.
In an industry that prides itself on speed, this resource is vital. With a rapidly declining attention span across society, speed is key. If we can’t implement change quickly, we lose people’s attention. Google’s approach is enabling them to be on the front line and truly understand its customer base and help them to react quickly.
They are also taking the time to listen to their customers, and develop industry-specific solutions. These solutions are helping Fintechs go to market quicker, understand their customers more, predict revenue models, and analyse consumer behavior. The importance here is Google is shaping itself around industries, really understanding them, and providing focused, tailored solutions.
It’s a simple strategy and one that is being executed extremely well! You couple this with the fantastic minds behind the software and solutions and you have a winning formula.
Google however goes one step further. They also have a world-class partner network.
Netpremacy as a Google Cloud Premier partner, underpin this entire community approach. With over a decade of experience working with Google technologies, we have developed deep and trusting relationships throughout the whole Google Ecosystem. Our mission statement is “Using innovative solutions to solve complex business needs” and is part of the reason why we align so well to Google & the Fintech team.
Our team of experienced engineers plug into those Google teams and become an extension of Google themselves. They help bring a different perspective, another opinion/ layer of experience. The team forms true partnerships with their counterparts, and this is vital when providing guidance and advice. Not only are FinTechs benefiting from Google’s knowledge and skills but they get access to a small but dedicated pool of highly experienced partners that can dedicate time and effort into solving some of the most complex problems and developing some of the most innovative solutions.
Netpremacy has also partnered with FinTech North who is an organisation based in Leeds – focusing on an open and collaborative platform to promote the sharing ideas, challenges and best practice. They bring together FinTechs across the north to help foster an environment of innovation, create connections, and actively promote collaboration.
This has enabled us to connect Google to the north and help the innovation thrive even more. Building on that sense of community and partnership and helping to scale Google’s operation at speed, all focusing towards that common aim of solving complex problems with innovative solutions & becoming that “go to” partner for FinTech.
To find out how Google supports Fintechs watch our first webinar here.
We’re also running part two, focusing on how Google’s ML & Smart analytics tools are helping FinTechs make sense of their data. Book on the session here.