HSBC banker makes move into fintech industry

  • By Kate Weber

ThoughtWorks has appointed Vic Wolff as its new director of financial services to expand its presence in the financial services sector aimed at helping banks, fintechs and insurance companies become industry disruptors in delivering on customer needs.

Wolff joins the global software consultancy after working as head of customer value management and marketing at HSBC, with responsibilities across retail product management, customer experience, analytics and marketing. 

Prior to HSBC, Wolff was ING’s executive director of products, marketing and communications, responsible for helping make ING Direct a driving force in the Australian market. 

Wolff will now join ThoughtWorks, which builds digital management for more than 15 financial services and fintech organisations, including NAB, ANZ, IAG and IOOF, and through a focus on enabling the consumer has supported regulators and industry bodies in evolving Australia's financial services industry.

“Financial services as we know it will undergo an enormous amount of change over the next decade,” said Wolff. 

“That’s going to be largely due to the continuous stream of innovation, the nature of the regulatory environment and a demand for greater personalisation of services - all of which is enabled by the technology that financial services organisations need to have at the core of their strategies. 

“We have already observed some of the consequences of these irreversible trends – like the rise of fintechs, new entrants shifting market shares in payments, open banking, consequences of stricter rules around data privacy and more bespoke financial products and services based on customer preferences. 

“The winners in this scenario are those with the foresight to evolve into modern digital businesses that allow for continuous delivery, better experience design, smart use of data and acceleration at the speed of change. Consumers vote with their feet, so the financial industry has to keep up with what customers want – frictionless, bespoke and equitable financial services offerings.”