FinTech, Partnerships, and the Power of Advisory with Nevellan Moodley
In this episode “FinTech, Partnerships, and the Power of Advisory with Nevellan Moodley” of the Talking Success, The Best FinTech Podcast, Darren Franks sat down with Nevellan Moodley, Head of Financial Services Advisory at BDO.
They explore the evolving fintech landscape, the value of good advisory partners, and why customer experience is the new battleground for financial services. The chat comes after a bit of a seasonal break, and what better way to return than with someone who’s been deep in the fintech trenches for years?
Beyond the Audit: Understanding BDO’s Role in FinTech
If you’ve only ever associated BDO with audits and compliance, it’s time to broaden your view. As a long-time client, the host reflects on how BDO is far more than an accounting firm. Their strength lies in a multi-disciplinary approach, blending tax, compliance, advisory, and business outsourcing into a single point of access for clients.
Nev echoes this sentiment. For FinTechs at various growth stages, having a team that understands the nuances of their business model, and can connect the dots across risk, strategy, and scalability, is critical. “Yes, we’re an audit firm at our core,” he says, “but our fintech clients often engage us more for advisory and strategic support than anything else.”
So… What Even Is a FinTech Anymore?
The term “FinTech” gets thrown around a lot, and with good reason. As Nev points out, the line between traditional financial services and fintech has blurred. Payments? Lending? E-commerce platforms with embedded finance? Everyone wants the fintech badge.
From BDO’s standpoint, the label itself matters less than the underlying tech. If you’re building or delivering financial services using modern technology, you’re operating in the fintech space. Whether B2B or B2C, the focus is on solving problems faster, cheaper, and better.
The Cost Myth: Why Early-Stage FinTechs Avoid Advisory Help
One of the more practical points raised in the episode is the hesitation many early-stage startups feel about engaging advisory firms. There’s a common assumption that picking up the phone will rack up a hefty bill, or that high-level expertise is out of reach unless you’re already well-funded.
Nev addresses this head-on. “There’s this misconception that engaging with a professional services firm means a six-figure invoice just to ask a question,” he says. “But we’ve built our fintech practice differently—especially for early-stage businesses. You don’t need a massive budget to start the right conversations.”
And that early support matters. Many fintech founders grapple with decisions around structuring, offshore entities, IP migration, or funding models. Making those calls without sound advice can open a can of worms later on. “It’s a case of paying a little now to avoid paying a lot later,” Nev says.
Africa’s FinTech Landscape: The Trends Worth Watching
Turning to trends, the conversation shifts to what’s actually happening on the ground across Africa’s fintech ecosystem. While payments still dominate, making up around 60% of the market, Nev encourages us to pay attention to the remaining 40%.
“There’s growing activity in credit, embedded finance, insurance, and even compliance-as-a-service,” she notes. “It’s not just about moving money anymore, it’s about how financial technology plugs into broader systems.”
But he also highlights an emerging challenge: margin compression. Payment Service Providers (PSPs) are under increasing pressure to differentiate beyond basic functionality. With many of their offerings seen as interchangeable, the winners are those layering on value, offering credit, insights, APIs, and seamless onboarding.
The Integration Advantage: Simplicity Wins
Ease of integration is no longer a “nice-to-have”, it’s the minimum standard. Whether you’re a Shopify seller or a large enterprise, the ability to plug in a payment gateway and get going in minutes is non-negotiable.
“If I can drop in an API key, click a few buttons, and start accepting payments, why would I go with a more complex solution?” Darren asks. Nev agrees. For most businesses, the decision isn’t about features, it’s about friction. The lower the barrier to entry, the more attractive the product.
That simplicity, however, doesn’t mean the back end is simple. The real magic lies in how well the system supports edge cases, regulatory compliance, and growth. That’s where advisory firms like BDO continue to play a vital role, helping FinTechs build scalable, defensible businesses.
Customer Experience Is the New Differentiator
Nev and Darren both agree: great tech is only half the battle. Customer experience is where FinTechs can really stand out. Darren recounts his recent experience opening an account with Discovery Bank, an app that impressed him with its clean interface, fast setup, and helpful customer support.
He describes calling their support line with what he called a “stupid question,” and being pleasantly surprised when a friendly rep guided him through the issue with a live screen share on his phone. “I was left going, wow,” he says. “You’re not getting that kind of service from a legacy bank. No chance.”
That seamless, human-centered experience reflects what consumers now expect. As Nevellan points out, FinTechs have raised the bar not just in how financial services are delivered, but through partnerships and how customers are made to feel to empowered, informed, and in control. That expectation is now bleeding into traditional banking, forcing even the incumbents to adapt or fall behind.
Stablecoins, Disruption, and the Next Frontier
The conversation soon shifts to the looming disruption of stablecoins and peer-to-peer finance. If a merchant and customer both hold funds in a stablecoin wallet, why do we still need intermediaries like card schemes? Why the transaction fees?
It’s a provocative point. The rise of digital currencies, especially those pegged to fiat, could reshape the payment rails we take for granted. And while stablecoins have yet to see mainstream adoption at scale, the implications are clear: traditional financial institutions and PSPs may need to rethink their value propositions in a world where direct, low-cost transactions are possible without them.
Nev doesn’t shy away from the tension. He agrees there’s disruption coming but points out that trust, compliance, and regulation still matter. “The rails may change, but the need for governance doesn’t go away,” he says. “Even in a stablecoin world, businesses will still need to be compliant, secure, and audit-ready. That’s where the real value lies.”
The Evolution of the PSP: From Utility to Ecosystem Builder
Another major shift in the ecosystem is how payment companies are reinventing themselves. Margins are tight, competition is fierce, and the base offering of “processing a payment” is no longer enough.
As Nev explains, PSPs are now evolving into platform businesses, offering credit based on transaction data, building loyalty tools, creating dashboards for merchants, and even bundling insurance products. It’s no longer about what they process; it’s about what they enable.
This evolution opens new revenue streams and creates deeper relationships with clients. But it also raises the bar for compliance, operations, and customer support, areas where having the right advisory partner becomes crucial.
Advisory as a Strategic Weapon
Throughout the episode, a clear theme emerges: advisory isn’t a luxury for FinTechs, it’s a strategic weapon. Whether it’s structuring a cross-border business, setting up a governance framework, or navigating tax and IP implications, the right guidance can mean the difference between rapid scale or regulatory setbacks.
BDO, through Nev’s leadership in the financial services practice, has carved out a strong niche in helping FinTechs get this right. They understand the pace, the pressure, and the uncertainty that come with building something new. More importantly, they provide the kind of grounded advice that founders can act on.
And it’s not just the big players who benefit. As Nev stresses, early-stage FinTechs often need support the most, before they’ve raised large rounds or hired big teams. “You don’t have to walk the journey alone,” she says. “We’re in your corner, and we want to see you win.”
Building the FinTech Future Together
The conversation with Nev Moodley offers a window into what it really takes to build a successful fintech company today. It’s not just about flashy apps or slick marketing, it’s about making smart decisions early, staying adaptable, and having the right partnerships in your corner.
From payments and credit to stablecoins and compliance, the fintech space is evolving fast. But as this episode of Talking Success reminds us, some things remain constant: the importance of trust, the value of partnership, and the power of experience.
If you’re a founder navigating this world, or even just fintech-curious, this is one episode (and one blog post) worth revisiting.
Interested in connecting with BDO’s fintech team or learning more about how advisory support can fuel your growth? Visit BDO South Africa or reach out directly to Nevellan Moodley on LinkedIn.
FAQ's
No. While BDO is globally known for audit and tax services, the firm also offers a broad range of advisory solutions. These include financial services consulting, regulatory compliance, risk management, fintech advisory, business process outsourcing, and more. Their multi-disciplinary model allows clients to access specialists across sectors under one roof.
Yes. BDO has a strong focus on supporting fintechs at all stages, from early-stage startups to scale-ups and enterprise firms. They often assist founders with structuring advice, cross-border expansion, tax planning, IP migration, and regulatory navigation. Importantly, they understand the resource constraints early-stage companies face and work to deliver value without creating financial strain.
BDO helps fintechs navigate cross-border challenges such as regulatory compliance, tax implications, entity structuring, data privacy laws, and operational risk. With a presence in over 160 countries, BDO provides local insights while maintaining a global view, crucial for fintechs entering new markets.
Not necessarily. BDO often works with clients on a flexible or project-based model, especially for startups. Many fintechs assume professional advisory comes with a high cost, but BDO’s fintech team is focused on building long-term relationships, not sending big bills after every phone call.