Give your customers a voice
Sometimes people ask me why i decided to become an investment banker. It is not easy to explain exactly the reason why i started to build structured products for banks. At the beginning it was more likely having fun and a way to express my own creativity in pricing complex derivatives. I always thought you can’t work without happiness and you need to wake up every morning with the idea that something wonderful can happen.
At this time trading was like a happy battleground !
We were always trying to gain more traction in terms of structuring by mixing models in order to convince our managers to push our ideas internally.
Today the business of banking has deeply changed as you have to struggle with your credit officer, deal with a complex regulation and face suspicion from your client if you try to push something slightly structured !
As a matter of fact investment bankers have lost their independence because they pushed exotic products too much in the past. So they have to embrace their job a different way now.
Innovation is always about making your customers life easier and even if you have the best product you have to consider trust counts first.
At Devance, we decided to reconsider the relationship between the bank and its clients. We fully understood that customers were not expected miracles but more likely a way to build back trust. So If you think you have a good product to sell, let your customers showing it because your clients are always your best ambassadors !
This is the way investment banks should consider digital transformation.
Olivier Missé, CEO & Founder
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