Executive Vice President of Financial Services, Publicis Sapient
David Donovan, Executive Vice President, oversees Publicis Sapient’s entire financial services portfolio for the Americas. He is responsible for setting operational and marketing strategies for the firm and managing relationships with top global investment banks. Since joining Publicis Sapient in 2005, his deep understanding of business, regulatory, operations and technology challenges facing C-suite executives, has enabled Donovan to help develop top strategic initiatives to evolve our business and improve the company’s ability to deliver transformative work. Donovan brings 25 years of expertise working on Wall Street as an institutional equity trader, including 14 years as the sector leader of technology trading for Fidelity Management and Research, when working with investment banks and asset managers. As a trusted adviser to C-suite executives, David is involved in many key strategic initiatives helping with digital transformation of banks, building better operating platform and leveraging globalization to reduce cost and grow revenues. David’s area of expertise includes building and executing strategies to lead digital transformation for banks, helping enterprises best understand data through proprietary data science solutions, providing globalization expertise to create efficient operating platform for banks, leveraging service level design concepts along with dev-ops & cloud integration, creating and implementing strategies to manage middle office operations and technology among other custom technology needs for clients. As head of Publicis Sapient’s largest business division, Donovan personally leads the Financial Services’ largest clients in their digital business transformations. His focus on relationships has also reinforced his investment in our culture and our people. Donovan says he has also worked hard to foster credibility and trust with his leadership team and he’s proud of the role he’s been able to play in their personal growth. “Together we’ve found ways to positively stretch and in doing so we’ve improved how we lead our people and ensured clients continue to see us as partners rather than simple service providers. I truly believe these individuals will be the dynamic future leaders of this company and I am proud to get to work alongside of them.” Awards & Accomplishments: 2017 Consultant of the Year, Excellence in Financial Services by Consulting Magazine 2010 and 2007 Chairman’s Award
- Posted on: 09/26/2020Goldman Sachs partners with Walmart to offer SMB loans to online sellers
Another great example of Goldman continuing to execute on their strategy to build out an eco-system of connected brands. Goldman is going to continue to look to partner with iconic brands that have large user bases who will need Goldman’s “embedded financial solutions” in order to better serve their customers.
- Posted on: 09/16/2020Inside Shopify’s financial services strategy
Shopify is a great example of the disruptive open platform concept that is changing both e-commerce and finance. Already number two in e-commerce sales behind only Amazon, Shopify’s ecosystem system allows any e-commerce merchants to start, manage, and grow a business by leveraging technology and data. Shopify is advancing its “embedded finance” offerings as a way to create a more seamless experience for its customers to buy and sell products and services without the need for a traditional bank. Their point of sale solutions will keep their clients capital within the Shopify ecosystem for future use. By providing additional options for money management, Shopify clients will continue to move away from using traditional FI’s. Most importantly, Shopify is leading in supporting small business owners as it relates to the innovation and growth of their businesses. Small businesses are the lifeblood of the U.S. economy, by giving small businesses financial choice through multiple partnerships, Shopify is redefining e-commerce.
- Posted on: 08/15/2020‘Banks are a flight to safety’: Challenger banks are struggling to gain trust during COVID-19
Rather than look at fintech as adversaries, banks should embrace and partner with them. Many banks are lacking top-notch customer service and innovation, which is the fintech sweet spot. On the other hand, fintech need what banks have, which is distribution and regulatory. Big tech is the real competitor to banks since they have both distribution and consumer experience coupled with an infrastructure that’s able to produce product enhancements at lightning speed. Banks have the pipes, but they need to offer something more to consumers in order to keep them satisfied. Right now they are encumbered by legacy technology, products, and innovation culture. For banks to survive they need to bring propositions around not just lending, but all aspects of homeownership, getting an education, starting a business, and improving consumers' lives. By partnering with fintech, it allows banks accessibility to a greater pool of insight and thought around these propositions.
- Posted on: 08/08/2020Google to start offering bank accounts in 2021
Google has figured out it’s smarter to partner with a multitude of banks as opposed to just a standalone bank – this affords them the ability to make more money. Google can provide banks with intuitive interfaces and the ability to make better use of customer data and client onboarding that will in turn enhance the consumer experience. In return, Google gets from banks security, reputation, and legal compliance experience that banks and financial institutions already are known for.
- Posted on: 07/26/2020For Visa, digital currency means new opportunity to add value to the ecosystem
For me, the term “network of networks” really resonates with the change we are currently seeing throughout the world. We are seeing limitations not only around payments but how we communicate and transact, all of which will all be governed by secure API’s and data. Since data aggregation is a critical component to the open banking eco-system, Visa has strategically placed itself as one of the major players in the market, with their acquisition of Plaid, which really shook up the fintech world and put Visa in a domination position.
- Posted on: 06/22/2020WhatsApp launches payments in Brazil
WhatsApp’s launch of payments in Brazil is a prime example of innovative initiatives by Facebook and one of the reasons I love the company so much. With over 3 billion users, across their applications, Facebook’s platforms provides an unparalleled user base and technology that allows them the ability to create eco-systems with massive scale. I believe when Facebook announced Libra last year, it shook governments around the world. Post that announcement those governments realized, for the first time, that Facebook has the capability to actually take over the monetary system with its proposed digital currency idea. The Libra concept is what propelled the Federal Reserve into high gear around working on its own digital currency backed by the fiat currency. In my opinion, the WeChat model is the best business out there - you can hail a cab, book a doctor’s appointment, make a dinner reservation and buy a car, all on your phone. I think Facebook is looking at a comparable opportunity with this announcement around WhatApp payments in Brazil, and I believe this is only the beginning.