How to stay relevant in a rapidly changing industry: Luke Wilson

As Head of Account Management at Indue, Luke Wilson leads a team of business development and product managers to customise solutions to our clients’ very specific requirements. Having joined Indue in 2015, Luke Wilson reveals what drew him to the company and how he collaborates with clients to unlock opportunities and deliver strategic business growth.

What are the biggest changes facing the banking and finance industry?

We’ve obviously seen some significant changes on the back of the Global Financial Crisis, but one of the key challenges for the banking and finance industry today is staying relevant. The huge growth in the use of mobile devices has influenced consumer behaviour, forcing most players in the banking and finance sector to evolve in order to remain relevant to their customers. While core financial services have not changed, continuous innovation is needed to stay relevant. This means being top of mind with customers and keeping pace with new providers on the periphery of the financial services spectrum.

What is your secret to fostering collaborative relationships with clients?

I like to keep my approach pretty simple. I try to get a good understanding of our clients’ business goals and objectives, then I try to imagine how I would respond or feel if I was in their shoes. So I ask myself a couple of basic questions:

  1. Would I be happy in the relationship or with the result?
  2. Why does the client want or need something? Understanding the end result where you or your organisation plays only a part is really important in driving customer-focused behaviors and actions.

If you take the time to consider things from a client’s perspective, you generally get a positive result.

What are the Indue products you are most excited about?

NextGen Prepaid is definitely up there. Having worked with our gift card and prepaid clients over the last six months, I think this new platform will provide great opportunities for our clients. Indue’s involvement in the development of the infrastructure for the New Payments Platform (NPP) and our work to enable mobile wallet technology in Australia are both very exciting developments. NPP will also allow Indue to offer value-added overlay services for its clients including electronic invoicing, credit card payment services, payment request services, customised peer-to-peer payments and smartphone applications.

I’m very interested to see the impact of these solutions over the next three to five years.

What attracted you to work at Indue, and how does it differ from other companies?

There is a great deal of change and opportunity in the payments space right now and part of Indue’s competitive edge is how nimble the company is. Indue has been able to quickly respond to some key opportunities in recent years. Indue’s recent diversification strategy has made way for a number of unique products which really appealed to me. It’s really great to work for an organisation that values long-term partnerships and embraces change.

What does innovation mean to you?

For me, the impressive examples of innovation are those that become ingrained in our way of life. So I would say that innovation means change; to the way we think and behave, or do business.

What are the most common challenges facing Indue’s customers?

This comes back to the concept of relevance, because it’s so closely related to growth. If you are relevant you are front of mind. So for me, this is probably the most common challenge for our customers. However, the challenges vary depending on the customer. For instance, the challenges facing an ATM deployer are different to those facing a mutual bank, government department or a retailer.

What does the future of the financial payment industry look like to you?

It would be nice to be able to predict the future of the payment industry but with the speed of change, it would be an absolute guess. The relationship between the customer and financial services provider will continue to change. Consumers of the future will have different demands that will only strengthen the need for organisations to be flexible and relationship-driven. As disruption of the banking and finance industry continues, companies will need to provide more than just good service. Companies with strong core values centred around relationships will succeed, but only if they embrace the most modern and relevant use of technology.

What inspires you outside of the office?

I’m lucky to have a great family who provide a lot of support and inspiration. Outside of my family I’m inspired by many different individuals and feats. One example I came across recently is the story of Derek Rabelo. Being a very average but enthusiastic surfer I found Derek’s story pretty inspirational. Derek is blind but surfs and makes most of us look very ordinary. It’s amazing what some people can achieve.

Luke Wilson Head of Account Management at Indue

Share this article:
Share on LinkedInTweet about this on Twitter