Innovation trends in Commercial Banking
Over the past years most efforts to make the banking user experience better have been focused on retail customers. However, this is moving upstream to business clients and has become one of the main areas for innovation. Companies are looking how to become more efficient and are expecting banks to help them by using technology in a smart way. In this session, we will hear the views from both a big corporation and fresh start up to understand how the different entities are applying innovation.
Richard Davies is the Global Head of Propositions at HSBC Commercial Banking, responsible for driving strategic change for both SME and Corporate customers, with a design led focus on digital, innovation, and client experience. Prior to that role, Richard was the Chief Operating Officer for UK Commercial Banking, having joined HSBC in August 2014. Prior to joining HSBC, Richard was CEO of a new entrant challenger bank (OakNorth), and successfully led the business model development, regulatory licence submission, and operations and technology design to enter the UK SME banking market. Previously, Richard was a Managing Director at Barclays Corporate, worked at Lloyds TSB in Retail Banking Strategy, and at L.E.K. Consulting covering a range of financial services sector projects. Richard has a MA Economics and M.Phil Development Economics from Trinity Hall Cambridge.
Conrad Ford, founder and chief executive of Funding Options, an award winning online finance intermediary. Funding Options helps UK businesses access the funding they need by using unique technology to individually analyse the funding needs of each small business and connect them with their finance options. With a background as a chartered management accountant at latterly in the group strategy team of Barclays, Conrad created this fast-growing technology funding business. He wanted to create the go-to service that any business could use when they need to access finance, removing one of the major barriers in the UK economy. Funding Options is a previous global finalist in SWIFT's Innotribe Challenge for promising FinTech companies, and in the Spring 2016 Budget was recommended by HM Treasury to receive mandatory SME finance referrals from major UK banks.