The Boston Consulting Group and Opportunity Network Partner to Help Financial Institutions

The Boston Consulting Group and Opportunity Network Partner to Help Financial Institutions
07.04.2016 10:15 am

The Boston Consulting Group and Opportunity Network Partner to Help Financial Institutions

Financial

The Boston Consulting Group (BCG) and Opportunity Network have reached an agreement aimed at helping financial institutions provide a wide array of growth opportunities to their customers.

Opportunity Network provides a platform through which banking clients can seek trustworthy partners to help them expand into new markets, sell privately held enterprises, execute cross-border mergers and acquisitions, and maximize asset utilization on a global level. Opportunity Network also helps partner banks gain exclusive insights into their clients' expansion plans and appetites for M&A activities, allowing the banks to become better advisors.

"Opportunity Network has a very attractive value proposition for banks, and we're happy to provide this opportunity to our clients," said Lionel Aré, a BCG senior partner and global leader of the firm's Financial Institutions practice. "In partnering with Opportunity Network, we are looking to address an important issue: the fact that many midsize businesses and private investors lack the tools and networks of contacts needed to grow, which in turn reduces opportunities for the commercial banks and wealth managers that serve them."

BCG and Opportunity Network said that they have already begun joint discussions with corporate- and private-banking divisions of leading financial institutions, and many banks are expressing enthusiasm for the opportunity to provide their top clients with access to Opportunity Network's platform.

"The partnership with BCG will allow financial institutions to strengthen their relationships with their clients by enabling them to find trustworthy business counterparts worldwide at the click of a button," said Brian Pallas, CEO and founder of Opportunity Network. "Companies must gain access to trustworthy partners in an effective and efficient way," Pallas continued. "Their banks must serve them as they execute deals at the speed of continuously changing markets. Digital technology can now play a leading role in expanding the global economic system by supporting both companies and the financial industry."

As part of the agreement, BCG, which participated in the latest round of fundraising for Opportunity Network, will gain a minority share in the company. BCG's Lionel Aré has also joined Opportunity Network's board of directors.

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