Name: Personalizing the banking experience: Insights from Silicon Valley Bank’s Christopher Hollins
Uploaded: 2024-06-13T15:27:37.271Z
Duration: 340.17
Description: Christopher Hollins, Head of Global Solution Sales & Delivery at Silicon Valley Bank, discusses SVB's commitment to client satisfaction through personalized services and the launch of their new digital platform, SVB Go.

FSPR.SP.06_Christopher Hollins_converted.mp4

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English

{{00:00:05}}
Hi, I'm David Penn, Research
Analyst with Finovate.

{{00:00:07}}
We're here at FinovateSpring
in San Francisco, and joining

{{00:00:09}}
me is Christopher Hollins.

{{00:00:10}}
He is the Head of Global Solutions, Sales,
and Delivery with Silicon Valley Bank.

{{00:00:14}}
Great to have you with us.

{{00:00:16}}
Thank you very much.

{{00:00:16}}
Fantastic.

{{00:00:17}}
I thought maybe to start off, you could
tell us just a little bit about yourself

{{00:00:19}}
and the work that you do for SVB.

{{00:00:21}}
Okay, excellent.

{{00:00:22}}
in, in my role, we are responsible
for ensuring that clients, beyond

{{00:00:28}}
lending opportunities, are actually
becoming clients of the bank.

{{00:00:32}}
So we, it's super important
from a core free income.

{{00:00:36}}
It's like what banks do very well.

{{00:00:38}}
And I have experts on my team who
know details around treasury cash

{{00:00:43}}
management, merchant services, embedded
payments, commercial car products.

{{00:00:48}}
And then we're also a referral
for our other colleagues in

{{00:00:51}}
areas like trade finance.

{{00:00:54}}
FX and liquidity.

{{00:00:55}}
Interesting.

{{00:00:56}}


{{00:00:56}}
With Silicon Valley Bank involved
in so many different things, so

{{00:00:59}}
many topics that are coming up here.

{{00:01:00}}
One of the big ones I'm sure I
don't need to remind you of is

{{00:01:02}}
the idea of personalization and
its role in banking and finance.

{{00:01:05}}
Can you show us some of the
opportunities and personalization

{{00:01:08}}
that excites you the most?

{{00:01:09}}
I tell you what for us, our most exciting,
innovationally, I'd say it's more of our

{{00:01:14}}
implementation right now, and that's of
SVB Go, so a fully digitized platform

{{00:01:19}}
that's replacing E Connect, which was
our former platform to actually make it

{{00:01:23}}
significantly easier for our clients to
actually interact with the bank and to do

{{00:01:29}}
so much of that stuff at the times where
they're probably not going to talk to an

{{00:01:32}}
individual, that kind of you wake up at 4.

{{00:01:35}}
18 in the morning.

{{00:01:36}}
I have this thing to do
before my day starts.

{{00:01:38}}
That's what that is much more
of what we're facilitating.

{{00:01:41}}
Okay.

{{00:01:41}}
Through this capability, and we actually
won an award in April from sell it around

{{00:01:46}}
the best digital cash management platform.

{{00:01:49}}
So we do feel like we've hit
the appropriate portions of

{{00:01:55}}
what our customer base has been
telling us for a number of years.

{{00:01:59}}
And we're trying to make
certain that happens in a way

{{00:02:02}}
that allows for every client.

{{00:02:03}}
to basically customize
their own experience.

{{00:02:06}}
Very interesting.

{{00:02:06}}
I wonder you talked a little bit about
the demand for this is one of the things

{{00:02:09}}
that helps spurred this on just how
important do you think this sort of

{{00:02:12}}
extra step or extra level is in terms
of really making customers feel that the

{{00:02:16}}
bank appreciates the work that they're
doing is really out there to help.

{{00:02:19}}
I think you know, we've for 40 plus
years, we've been serving the innovation

{{00:02:23}}
economy, and we've been serving them by
making certain that we not only understand

{{00:02:28}}
their needs, that we're detailed and
thoughtful around our understanding

{{00:02:32}}
of their industry so that we can put
ourselves in their shoes so that we can

{{00:02:36}}
help them to drive customer success.

{{00:02:38}}
The digital aspect of us is
just like the next level of what

{{00:02:42}}
I consider to be serving the
customer in the appropriate way.

{{00:02:46}}
And then just honestly, if I think about
just demographic changes, me as an...

{{00:02:50}}
Actually, everyone who is younger
than me has an expectation of

{{00:02:54}}
personalization because they've basically
had it since they were a teenager.

{{00:02:59}}
And so not being able to step into that
experience for banking would probably

{{00:03:05}}
not be a great thing for us to do.

{{00:03:07}}
Yeah, that makes a lot of sense.

{{00:03:08}}
One of the things that banks are always
interested in is growth prospects.

{{00:03:10}}
What can we do that's going to help
us grow revenues, grow customers or

{{00:03:13}}
members if you're a credit union?

{{00:03:14}}
What are some of the ways you
think personalization really helps

{{00:03:16}}
fuel that capacity for growth?

{{00:03:18}}
I think it fuels it because it
allows for people to understand if

{{00:03:22}}
your brand matches up to the way
you're showing yourself digitally.

{{00:03:26}}
And when you get that alignment.

{{00:03:28}}
You get clients to be more loyal because
it's what you're selling me on is the

{{00:03:32}}
same thing that shows up in the way that
I interface with you and quite interesting

{{00:03:37}}
to this is that not only is it the digital
part, but we are also looking to ensure

{{00:03:42}}
that all of our human colleagues are
also upping their game because there is

{{00:03:47}}
a little bit of a paradoxical reality
that the better digital gets, right?

{{00:03:51}}
The more important it is your humans are
capable of being able to help you take

{{00:03:55}}
that next step because when they step
out of the digital lane and want to talk

{{00:03:59}}
to an individual, they don't want to say
rehash of what digital already told them.

{{00:04:03}}
They expect to get something more.

{{00:04:05}}
That's a really interesting point.

{{00:04:06}}
I think so often we think of the of
this idea of the technology creating

{{00:04:08}}
this gap between what we get from the
technology we get from people and what

{{00:04:12}}
I'm hearing for you is that no, people
need to make sure that gap doesn't open,

{{00:04:15}}
that's correct, right there with the
technology so that you don't have these

{{00:04:17}}
sort of circumstances that you mentioned.

{{00:04:19}}
very, interesting.

{{00:04:21}}
maybe I thought by finishing up, since we
just finished talking about customers and

{{00:04:23}}
the user experience, what are some of the
things that you would hope to see that,

{{00:04:27}}
Silicon Valley Bank is able to achieve
in the ways of customer experience, user

{{00:04:30}}
experience, say by the end of the year?

{{00:04:31}}
What are some of the
goals that you've got?

{{00:04:33}}
So a couple of things.

{{00:04:34}}
So we want to make certain that SVB
Go is with all of our clients by

{{00:04:37}}
no later than the end of this year.

{{00:04:40}}
We want to be able to take some
of the products and capabilities,

{{00:04:42}}
whether it be our commercial card
or merchant services platform, and

{{00:04:46}}
be able to embed that into SVB Go

{{00:04:49}}
for our smallest clients who are being
onboarded digitally have the experience

{{00:04:54}}
of being able to know how to interact
with the bank and for those who are

{{00:04:58}}
largest being able to actually look
to one place to be able to actually

{{00:05:02}}
facilitate their transactions.

{{00:05:04}}
We need to be beyond just a digital,
tool for transaction processing because

{{00:05:10}}
many of our competitors do that.

{{00:05:11}}
That's like basically the baseline.

{{00:05:13}}
How do we take our personality, our
culture, and show that in a digital

{{00:05:18}}
form combined with having even better
associates who can advise clients?

{{00:05:23}}
I feel like that is a
winning strategy for us.

{{00:05:26}}
Yeah, it sounds like a winning strategy
for me and one we're going to be looking

{{00:05:28}}
forward to seeing Silicon Valley Bank
roll out over the next couple of months.

{{00:05:31}}
Alright, thank you.

{{00:05:31}}
Fantastic.

{{00:05:32}}
Thank you very much and thank
you for joining us as well.

Hi, I'm David Penn, Research
Analyst with Finovate.

We're here at FinovateSpring
in San Francisco, and joining

He is the Head of Global Solutions, Sales,
and Delivery with Silicon Valley Bank.

I thought maybe to start off, you could
tell us just a little bit about yourself

in, in my role, we are responsible
for ensuring that clients, beyond

lending opportunities, are actually
becoming clients of the bank.

So we, it's super important
from a core free income.

And I have experts on my team who
know details around treasury cash

management, merchant services, embedded
payments, commercial car products.

And then we're also a referral
for our other colleagues in

With Silicon Valley Bank involved
in so many different things, so

One of the big ones I'm sure I
don't need to remind you of is

the idea of personalization and
its role in banking and finance.

Can you show us some of the
opportunities and personalization

I tell you what for us, our most exciting,
innovationally, I'd say it's more of our

implementation right now, and that's of
SVB Go, so a fully digitized platform

that's replacing E Connect, which was
our former platform to actually make it

significantly easier for our clients to
actually interact with the bank and to do

so much of that stuff at the times where
they're probably not going to talk to an

individual, that kind of you wake up at 4.

I have this thing to do
before my day starts.

That's what that is much more
of what we're facilitating.

Through this capability, and we actually
won an award in April from sell it around

the best digital cash management platform.

So we do feel like we've hit
the appropriate portions of

what our customer base has been
telling us for a number of years.

And we're trying to make
certain that happens in a way

to basically customize
their own experience.

I wonder you talked a little bit about
the demand for this is one of the things

that helps spurred this on just how
important do you think this sort of

extra step or extra level is in terms
of really making customers feel that the

bank appreciates the work that they're
doing is really out there to help.

I think you know, we've for 40 plus
years, we've been serving the innovation

economy, and we've been serving them by
making certain that we not only understand

their needs, that we're detailed and
thoughtful around our understanding

of their industry so that we can put
ourselves in their shoes so that we can

The digital aspect of us is
just like the next level of what

I consider to be serving the
customer in the appropriate way.

And then just honestly, if I think about
just demographic changes, me as an...

Actually, everyone who is younger
than me has an expectation of

personalization because they've basically
had it since they were a teenager.

And so not being able to step into that
experience for banking would probably

One of the things that banks are always
interested in is growth prospects.

What can we do that's going to help
us grow revenues, grow customers or

What are some of the ways you
think personalization really helps

I think it fuels it because it
allows for people to understand if

your brand matches up to the way
you're showing yourself digitally.

You get clients to be more loyal because
it's what you're selling me on is the

same thing that shows up in the way that
I interface with you and quite interesting

to this is that not only is it the digital
part, but we are also looking to ensure

that all of our human colleagues are
also upping their game because there is

a little bit of a paradoxical reality
that the better digital gets, right?

The more important it is your humans are
capable of being able to help you take

that next step because when they step
out of the digital lane and want to talk

to an individual, they don't want to say
rehash of what digital already told them.

I think so often we think of the of
this idea of the technology creating

this gap between what we get from the
technology we get from people and what

I'm hearing for you is that no, people
need to make sure that gap doesn't open,

that's correct, right there with the
technology so that you don't have these

sort of circumstances that you mentioned.

maybe I thought by finishing up, since we
just finished talking about customers and

the user experience, what are some of the
things that you would hope to see that,

Silicon Valley Bank is able to achieve
in the ways of customer experience, user

What are some of the
goals that you've got?

So we want to make certain that SVB
Go is with all of our clients by

We want to be able to take some
of the products and capabilities,

whether it be our commercial card
or merchant services platform, and

for our smallest clients who are being
onboarded digitally have the experience

of being able to know how to interact
with the bank and for those who are

largest being able to actually look
to one place to be able to actually

FinovateSpring

Case Study

Christopher Hollins, Head of Global Solution Sales & Delivery at Silicon Valley Bank, discusses SVB's commitment to client satisfaction through personalized services and the launch of their new digital platform, SVB Go.