Friday April 22, 2016 – Silicon Valley Innovation Center (SVIC) hosted Jon Earle Sutton, Chief Executive Officer, and Peter Deans, Chief Risk Officer, of Bank of Queensland in Silicon Valley. During their visit, Jon and Peter were introduced to innovation experts at SOFI, BNY Mellon Innovation Center, Plug and Play Tech Center, and Citi Ventures.
Our guests spent the day immersing themselves in the Silicon Valley innovation culture, while also brainstorming how to leverage the advantages of disruptive technologies within the banking industry:
- SOFI shared best practices on how to pick borrowers for their social lending platform, and discussed how the company will be changing in next 5 years and what future developments customers can expect.
- BNY Mellon Innovation Center gave us a look into their best in-house innovation practices and educated us on their best practices to overcome legacy system problems, a common challenge within the banking industry.
- Plug and Play showed us how banks can be more innovative by collaborating with accelerators and startups.
- Citi Ventures shared their experience of investing in banking ventures that eventually lead to strategic partnerships between the two organizations. Our group was hosted by one of the managing directors, who shared his personal and career experiences working at a venture firm, challenges he’s faced throughout his career, and key opportunities that propelled him forward within the industry.
The Australian guests were accompanied on their visits by SVIC’s Chief Strategy Officer, Valeriy Galitskiy, Director of Global Business Development, Marén Thomisch, and President, Andrey Kunov.