Podcasts

BBVA’s Scarlett Sieber on embracing innovative directions in banking

  • There's no right way of creating an innovative bank.
  • As a case study, BBVA is leading the way by innovating in multiple ways.
close

Email a Friend

BBVA’s Scarlett Sieber on embracing innovative directions in banking

While some banks and fintech professionals are still just talking about embracing new directions with their businesses, Scarlett Sieber and BBVA are doing just that today. Scarlett is the senior vice president of global business development and she’s created a live case study of reengineering an incumbent bank to become the center of a technology ecosystem. In Scarlett’s case, she’s helping BBVA to harness the innovation of external partners as well as bring in-house the core technology and design skills to take the bank into the future.

Scarlett presented at the Tradestreaming Money conference in NYC in November of 2016. The audio you’re about to hear was part of her talk about building financial ecosystems with leading banks at the center.

Subscribe: iTunes I SoundCloud

Below are highlights, edited for clarity, from the episode.

Creating BBVA’s digital team

Our team has really diverse backgrounds. We definitely have technologists. We have a lot of people like me who have an entrepreneurial background both within financial services and from outside the industry. We have our experts in banking (you can’t be successful without having those people). We also have people from the PayPals of the industry. So, we have a very diverse global team.

 

BBVA's Scarlett Sieber on financial innovation

 

Building the bank of the future through internal incubation

We’re attacking the fintech ecosystem in a variety of ways. First, we do internal incubation, which is launching our own startups. We’re doing that simultaneously in Spain and in the U.S. We have about seven companies going to market in the next six months. These companies start as projects focused on problems BBVA is trying to solve and we kept them very much separate from the rest of the bank so they can go test things, learn quickly, and fail. We take those learnings back to BBVA if they don’t make it.

Using strategic partnership to drive innovation

We were the first bank to partner with Dwolla. For all the JP Morgans in the industry partnering with OnDeck, we were the first. We built a reputation in the industry of  looking for ways to attract new customers as well as ways to diversify our product offerings to our existing customer base.

0 comments on “BBVA’s Scarlett Sieber on embracing innovative directions in banking”

Podcasts

‘It’s all about embedding financial solutions at a customer’s point of need’: Plaid and Accenture on the future of embedded finance

  • Embedded finance is enabling new players from outside of finance to offer financing products.
  • Plaid and Accenture have released research on embedded finance, its roots and history, and where it's headed.
Zachary Miller | July 23, 2021
Podcasts

‘My mandate is to find great partners that can reach millions of consumers’: Green Dot’s Amit Parikh

  • Hailing from Apple and Discover, Amit Parikh recently joined Green Dot to run its banking as a service platform.
  • The executive joins the Tearsheet Podcast to discuss opportunities in platform banking and how to service top brands' financial offerings.
Zachary Miller | July 14, 2021
Podcasts

‘A real underdog mentality permeates this place’: Chase’s chief product officer, Allison Beer

  • With 56 million users, Chase is an at-scale digital bank.
  • Chief Product Officer Allison Beer joins us on the podcast to discuss UX design, payments trends, and the bank's product pipeline.
Zachary Miller | July 12, 2021
Podcasts

‘Solving corporate payments is about context, not about who pays’: Mesh Payments’ Oded Zehavi

  • Mesh Payments uses a foothold in SaaS payments to help corporates with their spend.
  • CEO Oded Zehavi joins the Tearsheet Podcast to discuss the genesis of the firm and why the market for corporate payments is so interesting.
Zachary Miller | July 08, 2021
Podcasts

‘Sitting in the back of an Uber, we understood drivers have a pain point’: Payfare’s Marco Margiotta

  • Gig workers increasingly want access to the wages as they earn them.
  • Payfare works with firms like Uber and DoorDash to help their workers get paid more frequently.
Zachary Miller | June 28, 2021
More Articles