Getting a yes from banks: what I learned building banking alliances
At SabPaisa and PhiCommerce I built partnerships with PSU banks, private banks and government entities. Here is what actually moves a bank partnership forward.
Key takeaways
- Banks partner when you help them grow deposits, earn fee income, serve a segment or meet a priority.
- Map the whole decision: business, product, IT, risk, compliance and legal teams all have a say.
- Have compliance documentation ready early, and start with a small pilot that is easy to approve.
- Be patient and consistent, and make sure the bank team has a clear win to take to management.
For several years, a big part of my job was getting banks to say yes. At SabPaisa I led business development and banking alliances, and at PhiCommerce I built relationships with PSU and private banks and government entities for payment solutions.
Bank partnerships can change the trajectory of a FinTech or a services company. They are also slow, layered and easy to get wrong. Here is what I learned.
1. Understand what the bank actually needs
Banks don’t partner because your product is exciting. They partner because it helps them grow deposits, earn fee income, serve a customer segment better or meet a regulatory or government priority. Lead with their goal, not your features.
2. Map the decision, not just the contact
A bank decision usually involves the business head, product, IT, risk, compliance and legal. A great meeting with one senior person is a start, not a deal. Find out who signs off at each step.
3. Compliance is part of the product
Information security audits, data localisation, RBI guidelines and the bank’s own policies. Have your documentation ready before they ask. The partners who make compliance easy move faster.
4. Start small and prove it
A pilot with one branch, one region or one product is far easier to approve than a nationwide rollout. Deliver on the pilot and the next phase sells itself.
5. Be patient and consistent
Bank cycles are long. Regular, useful follow-ups (a case study, a regulatory update, a result from another partner) keep you in the conversation without being a nuisance.
In banking partnerships, trust is built in small promises kept over a long time.
6. Make both sides look good
The best partnerships I worked on were ones where the bank team could take a clear win to their management. If your partner looks good internally, they will fight for you.
These lessons now shape how THV works with its 70+ partners. If you’re trying to build a bank or enterprise partnership, I’m always open to a conversation.
FAQ
Frequently asked questions
How do you build a partnership with a bank?
Lead with the bank's goals, not your features. Banks partner when a product helps them grow deposits, earn fee income, serve a customer segment better or meet a regulatory or government priority. Map everyone involved in the decision, have compliance documents ready, start with a small pilot, follow up consistently and make sure the bank team gets a clear win.
Who makes partnership decisions inside a bank?
A bank decision usually involves the business head, product, IT, risk, compliance and legal teams. A great meeting with one senior person is a start, not a deal. Find out who signs off at each step, and have your information security, data localisation and regulatory documentation ready before they ask, because partners who make compliance easy move faster.
Why do bank partnerships take so long?
Bank cycles are long because a decision passes through several teams and compliance checks, including information security audits, data localisation, RBI guidelines and the bank's own policies. A pilot with one branch, one region or one product is far easier to approve than a nationwide rollout. Regular, useful follow-ups keep you in the conversation without being a nuisance.