Disrupt the status quo and give power to the people! Felipe Hillard from the Bank of London, jumps in the hot seat to tackle the notion of control (and why sharing is a good thing), how inclusivity helps align payment solutions with customer needs, why choosing value over profit puts you squarely in the eye of the finance revolution, and why honing your purpose and focus in the fintech space can save you from going extinct.
Key Takeaways.
- [0:0] Denise Johansson puts Felipe Hillard, Chief Client Officer at the Bank of London, in the hot seat.
- [2:01] The historical context and current geopolitical aspects of the UK's powerhouse status in fintech and banking.
- [4:53] Felipe shares how the Bank of London, and Enfuce are focusing on giving power to the people.
- [6:06] Felipe shares what difficult (and scary) thing financial organisations need to give up to be part of the citizen-focused financial revolution.
- [7:39] Being purpose-built isn't baked-in only at inception, Felipe explains how your purpose can be nourished by enabling your customer's purposes and disrupting the status quo.
- [10:37] Innovation can be painful! Making it part of your culture from the get-go can make it less so.
- [13:36] Culture is a tricky thing, about rhythms and rituals, how teams function together and come together.
- [17:21] Felipe talks about how to manage sharing control to extend agency to the margins and reframes the discussion away from philanthropy.
- [18:56] Denise signs out until the next time she puts an industry leader in the hot seat.
People.
- Guest Felipe Hillard, Chief Client Officer at the Bank of London, disrupting the fundamentals of banking while prioritising depositor money preservation and market stability.
- Host Denise Johansson, co-CEO and co-Founder of Enfuce, a female-founded fintech helping drive business growth, solve customer challenges, and extend financial inclusion.
Links.
Guest Quotes (edited).
- With the Brexit vote, the UK just can't take access to outside markets for granted anymore, there's a need to innovate. — Felipe Hillard, Bank of London, InTheHotSeat
- Citizen-focused finance means being willing to give up a degree of control, which means a very awkward moment for organisations that are used to having control, giving a piece of it up. — Felipe Hillard, Bank of London, InTheHotSeat
- Culture comes down to how decisions are made and how decisions are communicated. — Felipe Hillard, Bank of London, InTheHotSeat
- If innovation is baked in from the start, it won't be as painful, but it will always be painful. — Felipe Hillard, Bank of London, InTheHotSeat
Denise Quotes (edited).
- We live in an almost cashless society, except for marginalised communities that can't access digital payments. We decided there must be a better way and today, more funds are being delivered through cards, through Enfuce. — Denise Johansson, InTheHotSeat
- In the UK, a place built on tradition and legacy institutions, the banking revolution is driven by purpose-built, citizen-focused fintechs and banks. — Denise Johansson, InTheHotSeat
- Being purpose-driven is finding a niche where you can make a change, and where you can tackle real challenges. Don't invent challenges, there are enough real ones out there! Find out what they are and how you can add value. Find your purpose, and then weigh all your decisions against that purpose. — Denise Johansson, InTheHotSeat
- We need to rebuild how banks make decisions and how the operations work so that we can serve the clients that we want to serve. — Denise Johansson, InTheHotSeat
