THE FINTECH INTERVIEW
trust , equity and money movement from the bank with the reach of a fintech . That ’ s where synergy starts to happen , and you ’ re impacting people ’ s lives by bringing them into a larger ecosystem .
Q . HAS THE RECENT ECONOMIC VOLATILITY AFFECTED THE COLLABORATION ECOSYSTEM ? DO YOU THINK IT ’ S MORE IMPERATIVE THAN EVER TO BE COLLABORATIVE , OR PERHAPS YOU ’ VE WITNESSED A COOLING OF SENTIMENT ?
» Collaboration is not cooling off ; it ’ s moving to a fever pitch . The macroenvironment impacts collaboration – higher interest rates , thinner margins , inflation – and this is being passed to consumers , who are also facing higher costs and economic pressure on things like food and gas . The result is product abandonment . As a result , we ’ re seeing partners who want to co-create and build a value proposition that ’ s sustainable , that captures margins for everyone equitably , and that fits our mission .
Q . WHEN IT COMES TO ROBUST COMPLIANCE , PEOPLE TEND TO THINK OF IT AS A BOX-TICKING EXERCISE . IS THERE MORE TO COMPLIANCE THAN THAT ?
» In some respects , it can be viewed as box-checking , but this is a dated and possibly dangerous perspective – risk and risk posture changes . There isn ’ t a firm box or one-size-fits-all approach . You need to build mechanisms throughout your first and second-line controls . Take it out of compliance and put it in more of a change management , dynamic space that ’ s fluid and makes it more of a conversation driver .
“ Fintechs are exciting because they ’ re innovative and iterative . They ’ re looking at how to do things differently ”
Q . DO YOU EXPECT WE ’ LL SEE MORE BANKING REGULATION POST- SILICON VALLEY BANK ( SVB )?
» No – but we ’ ll start to see more active regulators who are more interested in the financial condition of banks .
Q . WHAT MAKES YOU GET UP AND GO TO WORK EACH DAY ?
» Building products and new things . Looking at the marketplace and doing something different . Creating solutions to problems that create value for people .
Q . DESCRIBE YOURSELF IN THREE WORDS .
» Competitive , self-reflective , swears a lot !
Q . WHAT WAS THE LAST GOOD BOOK YOU READ , AND WHEN ?
» Radical Candor by Kim Scott is about creating a mechanism for having tough conversations but not losing your humanity . Secondly , I just started Hesiod . I love old poets .
20 December 2023