Day Two Highlights from SBS Summit 2025: Focus on Customer Experience and Data Utilization
The second day of the SBS Summit 2025 continued to emphasize enhancing customer experience, this time with an emphasis on effectively leveraging data and fostering inclusivity for the unbanked population.
The day commenced with an insightful presentation from Valmina Prezani, Head of Product for Digital Core at SBS, and Dana Lunberry, Head of Data, Analytics, and AI at SBS. Lunberry likened the evolution of data to the story of Cinderella, stating, "Cinderella is hidden away in the attic doing all the work, yet suddenly she becomes the belle of the ball. Today, data is recognized for its immense value, serving as the backbone for AI and unlocking vital business objectives."
They concurred on the necessity of reimagining banking models to accommodate more flexible frameworks and the ethical application of AI. SBS highlighted that the effective use of quality data is crucial for areas like fraud prevention, enhancing customer service, personalized offerings, and improving product profitability.
Integrating Data for Enhanced Customer Experiences
The morning sessions delved into how data integration within the Know Your Customer (KYC) processes can drive significant savings in both time and costs while mitigating customer attrition. Nicholas de Genot de Nieukerken, Product Management Lead for Open Banking, illustrated how open banking data enhances user experiences by integrating into various applications, akin to Klarna’s partnership with Airbnb and Revolut’s investment features.
Following this, speakers Yann Metz-Pasquier, Chief Strategy Officer and General Manager of Digital Banking at SBS, and Shalien Kishore, Head of Product Design, explored the advantages of strategic data usage. Metz-Pasquier shared that in Sweden, the local commerce landscape has long provided swift experiences and personalization akin to those of digital giants like Amazon. He emphasized the role of embedded finance in achieving these goals.
Kishore outlined four levels of personalization:
- Usability (responsive interfaces and adaptive designs)
- Segmented personalization (based on demographics and location)
- Behavioral personalization (recommendations tied to past actions)
- Contextual personalization (content tailored to specific contexts such as time or location)
Addressing Misconceptions Around Regulation and Financial Inclusion
The afternoon session shifted focus to critical industry concerns regarding regulation and financial inclusion. Sebastian Polese, General Manager of Reporting and Risk at SBS, and Camil Bennani Smires, General Manager of Amplitude Core at SBS, presented concerning statistics: projected compliance costs of $200 million annually for large banks by 2025 and a fivefold increase in regulatory reports from 2015 to 2025.
While these complexities present challenges, the speakers urged a more optimistic view, suggesting these expenses could instead be seen as essential investments in the banking sector’s evolution. They cautioned that every bank must adapt its regulatory reporting processes to thrive, concluding that "reporting is merely the starting point for smarter decision-making."
In a series of informative discussions, Neetu Wadia, CMO and Global Head of Alliances and Partnerships at SBS, took the stage with Louise Barton, Head of Landlord, Mortgage, and Financial Wellbeing Operations at Nationwide Building Society; Caroline Edwards, Financial Wellbeing Lead at NatWest Group; and Axelle Lemaire, Head of Corporate Responsibility and Sustainability at Sopra Steria.
They collectively highlighted the pressing need to increase investments aimed at serving the unbanked and those struggling with financial literacy. Wadia noted that approximately 1.4 billion adults globally lack access to banking services, including various marginalized groups. Barton added that only 34% of adults worldwide meet the minimum standard for financial literacy.
Edwards pointed out that even in the UK—the world’s sixth-largest economy—nearly half of the population lacks confidence in managing their finances. Lemaire shared her experience as a lawmaker advocating for digital accessibility, emphasizing that a significant proportion of the unbanked demographic consists of women.
Each speaker shared their organizations’ initiatives to address these challenges, ranging from free educational workshops to enhanced accessibility tools, such as British Sign Language (BSL) translations. They emphasized that addressing these issues is not only a moral imperative but also a crucial business strategy, citing that ignoring the unbanked can result in a loss of £2 billion monthly.
Prioritizing Customer Solutions Over Products
To close the event, Andrew Steadman, Chief Product Officer at SBS; Xavier Rebeuf, Chief Product and Technology Officer at SBS; and Raouf Mhenni, Chief Commercial Officer at SBS discussed the future trajectory of banking. They underscored the importance of harnessing data and AI to gain deeper insights into customer needs. The overarching theme was that true innovation must focus first on customer solutions and then on developing products, ensuring sustainable progression.
Mhenni invited accountability, stating, "Hold us accountable" as a commitment to transparency, innovation, and long-term partnerships.