Advapay Canada has crafted business plans for fintech companies operating across various business models and at different maturity levels. Our offer covers program activities descriptions provided to the regulatory authority, business plans descriptions for banking partners and internal operational plans. All of our plans have been accepted by FINTRAC, and all our customers have successfully established accounts with Tier-1 banks in the USA and Europe.
Why do you need a Business Plan
The primary goal of a business plan is to convince banking and payment partners to open an account for your MSB. The ease of registration as an MSB (Money Services Business) comes with a caveat: banks meticulously review all documentation related to the company, including the business plan.
The plan aims to persuade the banking partner that:
- The team is capable of management.
- They can profit from partnering with you.
- You have a deep understanding of your customers' profiles.
Neglecting the business plan will lead to partners perceiving you as just another MSB, undermining your potential for successful partnerships.
What a business plan consists of
- Captivating Story Description: Presents the company's mission through an engaging story, explaining why the fintech was founded and the problems it solves.
- Compliance Considerations Description: Approaches to adhering to regulatory and legislative requirements, including KYC and AML compliance.
- Corporate Structure and Funding Source Description: Clarifies the organizational structure and funding sources, including investors and capital.
- Payment Services and Flow of Funds Description: Mechanisms of payment services and the scheme of funds flow.
- Team Description: Profiles of key team members, their experience, and roles within the company.
- Outsourcing Arrangements Description: Details on external agreements and partnerships, including outsourcing services.
- Staff Structure and Departments Description: The company's organizational structure, including main departments and their functions.
- IT Security Solutions Description: Measures for information technology security and data protection.
- Product Description and Core Idea: Detailed description of the offered products or services, their unique features, and benefits.
- Pricing Policy Description: Pricing strategy, description of rates, and service conditions.
- Customer Base Description: Target market segments, customer needs, and behavior.
- Unit Economics: Analysis of economic efficiency at the level of individual product or customer.
- Market and Competitors Analysis: Overview of the market, including market size, trends, as well as an analysis of major competitors and their strategies.
- Financial Plan: Revenue forecasts, expenses, break-even analysis, and financial metrics.
- Marketing Strategy: Strategies for promoting products or services, distribution channels, and customer acquisition plans.
- Roadmap and Action Plan: Product and company development plan for the coming years, including key milestones and objectives.
How we write business plans
The entire process takes 1 month.
