Virgin Money to launch digital bank, looks for customer experience leadership
Virgin Money plans to launch a digital bank – VMDB – and is now recruiting for a head of customer experience.
As Banking Technology reported in November, 10x Future Technologies, the start-up founded by former Barclays CEO Antony Jenkins, is building a digital core banking platform for Virgin Money. The latter also signed a long-term deal with TSYS for debit card processing in the UK. The bank is already using the payments vendor’s TS2 solution for its credit card operations.
In a spectacular display of jargon, Virgin Money says the new head of customer experience must “question the status quo and act to deliver a paradigm breaking banking experience”; put the “customer at the heart of everything that we do”; and “create a loyal customer base of enthused and engaged evangelists, working with the director of customer and proposition to shape the acquisition and retention elements of the customer strategy”.
Whatever. The salary is from £60,000-£90,000 and the role can be in London, Norwich or Chester.
As reported exclusively by Banking Technology last year, Virgin Money was in system selection mode for the new core and digital channels software. It is understood Virgin Money evaluated traditional software vendors such as Temenos and Fiserv (the incumbent tech provider).
Virgin Money CEO Jayne-Anne Gadhia says 10x is the “perfect partner for us”, and provides an “even better banking experience”.
“We have a significant brand and scale advantage over digital-only banks [Virgin Money has a network of 75 physical branches] and the partnership with 10x Future Technologies will make Virgin Money more nimble than the large incumbent banks,” Gadhia states.