Launching a tech banking brand in 100 days – Simon Bumfrey, head of technology and life sciences, HSBC Innovation Banking

UKTN | The Podcast

UKTN

Technology, Entrepreneur, Tech, Business, Hr, Sales, Uktech, Investing, Funding, Entrepreneurship, Marketing

5 • 6 Ratings

🗓️ 21 December 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Simon Bumfrey, head of technology and life sciences at HSBC Innovation Banking, shares how the lender rebranded from Silicon Valley Bank UK, what happened immediately after that "seismic” rescue weekend in March, and a look ahead to the big themes defining the tech ecosystem in 2024.

HSBC Innovation Banking offers flexible banking solutions for startups, scaleups, growth businesses, investors and those working towards IPO. It officially launched at London Tech Week in June, coming just months after HSBC stepped in at the eleventh hour to rescue Silicon Valley Bank UK. Bumfrey goes behind the scenes of the 100-day rebrand and migration, which would typically take more than 15 months. He delves into the "herculean effort" required to achieve this and the challenges that arose during the transition. Elsewhere, Bumfrey – whose career in banking spans three decades – shares his predictions for the innovation economy in 2024, HSBC Innovation Banking’s growth plans and explains why he’s optimistic about a turnaround in the funding environment.

Transcript

Click on a timestamp to play from that location

0:00.0	So we went from the Friday night lows to the Monday morning high and then our priority
0:11.5	had to be focusing on our clients.
0:18.1	Something like this would normally take, I would imagine, you know, between 15 to 18 months to plan to get onto a new bank platform.
0:25.6	We actually achieved this in round about three months.
0:29.6	And let's not forget there's a waterfall of cash waiting to be deployed in the market.
0:40.8	And that will happen, I think, sooner rather than later.
0:52.2	From the first time founders to the funds that back them, innovation needs different.
0:57.5	Our episode partner, HSBC Innovation Banking, is proud to accelerate growth for tech and life science businesses, creating meaningful connections and opening up a world
1:03.1	of opportunity for entrepreneurs and investors alike. Discover more at www.h.hsbcInnov Innovationbanking.com slash EN-GB.
1:18.2	Hello and welcome to the UKTN podcast, a weekly chat with the movers and shakers of the UK
1:25.9	tech industry and the destination for all things UK tech related.
1:30.8	And this week I'm joined by Simon Bumfrey, head of technology and life sciences at HSBC Innovation Banking UK.
1:38.4	Welcome, Simon.
1:39.4	Hi, Jane, and thank you for having me.
1:41.5	Now, for those who follow what goes on in the UK tech industry, events in March this year
1:46.4	saw the collapse and rescue of Silicon Valley Bank UK by HSBC.
1:51.5	Since then, the bank has rebranded and gone through a full migration to HSBC, and we have
1:56.7	Simon here to shed some light on what the team has been doing since those days.
2:01.6	So first of all, Simon, talk to me a little bit about what happened directly after that dramatic weekend.
2:06.6	Yeah, as you kind of alluded to, Jane, it was a pretty traumatic period for clearly clients and investors
2:13.6	and also our people from that Friday afternoon over a very busy weekend where we went through
2:19.4	the sound of the business to HSBC. So we went from the Friday night lows to the Monday morning
	...

Please login to see the full transcript.

Previous episode

Disclaimer: The podcast and artwork embedded on this page are from UKTN, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of UKTN and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.