What’s a Rolodex?
Technology has disrupted nearly every sector of the economy, and there appears to be no slowing down or looking back from this trend. Due to the uniqueness of each deal, the numerous and varied complexities, and the amount of “hands-on” hours required to complete a transaction, the investment banking industry has proven to be a difficult sector to disrupt with technology. For these reasons, it will likely remain unchanged in these capacities, but the investment banking industry has not escaped the grasp of innovation completely.
For investment bankers, especially those selling a business, it’s no longer a question of “who you know” or the size and quality of your Rolodex, but about Big Data, access, and creativity. With access to extensive databases of qualified prospective buyers and a creative approach, boutique investment banks are now competing with regional and national players on some of the best deals.
People and relationships will always be the driving force of business, but technological advances in the investment banking industry have leveled the playing field and have forever changed the art of the deal.