Fnality is a Fintech start-up whose goal is to enable banks to pay each other seamlessly, quickly and securely, removing notable challenges in the current banking model (monstrously time-consuming and costly ones) by utilising blockchain technology. Sounds like a big ask but they have the brains and the backing to do it. This is proven by their top-tier investor base; Fnality has been backed by 15 of the largest financial institutions including Barclays, Nasdaq, UBS and more.
Fnality needed support in developing an operating model which they could then use as a blue print to build out their business. It needed to detail their business architecture so that they could set up the appropriate legal entities with the right capabilities. This was done in parallel with Fnality further defining their products and services and the legal and regulatory implications.
As a global business, Fnality needed a model that would demonstrate to central banks and regulators across multiple jurisdictions that they could operate globally whilst adhering to local legislation and regulations. This is highly complex given the differing international needs. For example, the financial laws governing GBP are set by the Bank of England, whilst the US Dollar is governed by the Federal Reserve. Two very different regulators with completely different laws. This had implications on what and how Fnality could operate, sometimes with notable differences by jurisdiction.
Enfuse worked closely with the senior leadership team to develop a framework for the operating model that could articulate what the Fnality business did, and the capabilities it would have to do this. This involved a series of workshops, targeted objective-driven interviews and desk work, with the following key outputs:
Once the entities were theorised, we designed and defined the:
As a result of the work we did, Fnality have been able to establish their entity structure, plan & execute against their capabilities and create a leading disruptive technology (of which its POC succeeded) which could be set to take the financial world by storm.