Fintech must focus on finance as well as tech – Dame Jayne-Anne Gadhia, former CEO, Virgin Money

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

5 • 6 Ratings

🗓️ 3 December 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dame Jayne-Anne Gadhia, former CEO of Virgin Money, discusses transitioning from running a major financial institution to founding a startup, working with Sir Richard Branson and why in fintech, there's too much emphasis on tech over finance.

Gadhia has held numerous prominent roles throughout her career, including CEO of Salesforce, retail managing director at the Royal Bank of Scotland and founder of Snoop. She discusses overseeing the acquisition of Northern Rock during the financial crisis of 2008 and why women in high-powered roles still earn less than their male counterparts.

Transcript

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0:00.0	It's worried me that tech entrepreneurs might come into the world of banking with
0:10.1	tech solutions that don't actually understand, that it is quite easy to break a bank.
0:18.5	Sent an email around about 50 people one weekend and 49 of them came back and said,
0:23.6	don't be so stupid, of course we can't do that.
0:25.6	And one came back and said, that sounds the right thing to do, let's do it.
0:28.6	And because that one person was Richard Branson, immediately the other 49 fell into life.
0:33.6	In my head, Virgin Money should probably be competing with the likes of Revolut and Monzo
0:42.4	rather than perhaps the more traditional brands of Clydesdale and Nationwhite.
0:50.7	From the first time founders to the funds that back them, innovation needs different.
0:56.0	Our episode partner, HSBC Innovation Banking, is proud to accelerate growth for tech and life science businesses,
1:03.0	creating meaningful connections and opening up a world of opportunity for entrepreneurs and investors alike.
1:10.0	Discover more at www.h.bc Innovationbanking.com
1:15.1	slash EN-GB.
1:21.4	Hello and welcome to the UKTM podcast, a weekly chat with the movers and shakers of the UK tech industry and the destination for all things UK tech related.
1:33.2	And today I am joined by Dane Jane Anne Gardia, former CEO of Virgin Money and founder of Money Management App Snoop and now the non-executive director at HM Revenue and Customs, amongst other roles.
1:47.0	Welcome, Jane.
1:48.1	Hello, Jane. Nice to be here. Thank you.
1:50.3	There was a lot of things there, a lot of job roles in there. Let's sort of start by working
1:54.3	backwards. And talk to me a little bit about Snoop. It's kind of interesting for me that you
1:59.4	were a CEO and then became an entrepreneur
2:01.7	later in life. So what was it that suddenly made you want to move out of the CEO role and
2:07.7	into being a founder yourself? Well, it's not as different as you may think because, of course,
	...

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