The Australian neobank scene was supercharged following the 2017 open banking legislation. But, three years later, the gold rush was stopped in its tracks as the COVID-19 pandemic took hold.
Volt is one of the few independently owned survivors, with Xinja leaving banking and 86 400 being acquired by NAB.
Volt co-founder Steve Weston was a chief executive at global banks, including Barclays, before launching the neobank in 2019. In this interview, he shares his leadership strategies, drawing parallels between managing 3,000 people, and creating a brand new bank.
Weston explains how to keep people motivated in difficult times, and your management team connected to frontline customer concerns.
This interview offers lessons in:
- Why even in tech companies, your people are your greatest asset;
- Why being radically transparent with your staff in tough times keeps them motivated; and
- The reality of building entirely new things: there is no one with past experience you can rely on.