Oliver Prill

Job Title:
Chief Executive Officer
Website:
tide.co
Meet Oliver Prill

Oliver has joined Tide after more than 20 years in leadership positions in financial services, including Kreditech, C&A Bank, RBS, Direct Line and McKinsey.

As chief executive of Tide Business Banking since 2018, Oliver has been on the front lines of opening up the market for business lending, successfully submitted an application for funding to the Banking Resolution Board.

“As a trained economist, I appreciate the monumental contribution that small businesses make to the global economy,” he says. “From meetings with them (including the ones I’ve already had with Tide members), I’m all too aware that smaller firms simply do not have the time to focus on banking and admin. The big banks have never really focused on small business. To them, small business is just side business, which leads to poor service, products and processes. Anyone who’s applied for a business account or loan knows what a disappointing experience this can be. My observation is that many other banking challengers are falling into a similar trap of trying to serve small businesses on the side of their core consumer businesses”

Oliver will speak about customer focus and member communication, and why he believes that good small business banking can be transformative for the UK. Buy your tickets to the International SME Business Banking-Fintech Forum 2019  here

 

We ask Oliver Prill the following questions

Why should banks focus on SME Banking?

Up until now, the SME market has been woefully underserved by traditional banks, which have focused on consumers and big businesses, meaning that small and medium sized businesses suffer long on-boarding times and services that are not tailored to them.

Should banks reconcile themselves to being players in the new ecosystem rather than drivers of SME lending?

Banks will need to decide on their role in the ecosystem: For most, focusing on business lending will be the easier transformation.

As a bank, what potential do you see for Open Banking and PSD2 (and its equivalents in other regions) to drive new possibilities for SME banking?

Open Banking / PSD2 have the potential to be truly disruptive to the universal banking approach underpinning most traditional SME banking offers.