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5 Minutes with Gustav Wagner
We sat down with Gustav Wagner, Our new Head of Savings, to understand the differences between the Austrian and UK savings market.

 

What were the key challenges you faced when launching in Austria and how did you overcome these?

 

We had to launch a fully-fledged savings bank within 8 months and had nothing in place – no systems, no in-house experience and a project team which already had a heavy work-load in place. I honestly did not believe we would be able to do it but every member of staff went above and beyond what was asked of them and as a result, we were able to launch on time with no hiccups at all.

 

What key parallels can you draw from the Austrian launch and put into practise in the UK?

 

There are lots of parallels that can be made between the two. However, the most important one is that throughout the Austrian launch and now across all parts of my day-to-day work with RCI Bank in the UK, the customer always comes first.

 

Whatever we do, be it small or large changes to the bank, these are always made with the customer at the heart of all our decisions and we hope this comes through in what we do.

 

Have you noticed any key differentiators between the Austrian and UK savings market since starting your role?

 

The savings market in the UK is much more competitive than in Austria which we see as a big positive for savers. We have seen a lot of new entrants in the market since we entered the market in June 2015, whereas in Austria RCI Bank has been almost the only savings “challenger bank” launching over the last years. So in the UK we are placing a much higher emphasis on both traditional and social media in order to tell our unique story and differentiate us from the competition

 

What do you hope to achieve as Head of Savings and what do you most enjoy about your role?

 

I hope to continue the great work my team has created and to further strengthen it where possible. As always, this will always be rooted in making sure RCI Bank is giving its customers the best experience and confidence when saving with us.

 

In terms of what I enjoy the most about working here is the great people it brings together, as well as the responsibility and the versatile nature of the role stretching from finance, to operations, marketing and communications. Every day is different and brings a fresh challenge which I take pleasure in overcoming in any way possible.

 

What would a normal working day involve for you?


My main responsibility is the day to day running of RCI bank, making sure it’s a well-oiled machine. This means I am there to support my team and our customers in case there are any hiccups. On top of this, I am also responsible for how we position RCI bank in terms of our strong customer experience and product offerings, as well as looking after the regulatory side, including how we report into the various banking groups.

 

What’s your view on the future of the UK savings market?

 

There is a strong level of competition across the UK saving market at the moment and it’s likely this is only going to grow in strength moving forward. With this in mind, it is important for all providers, and not just RCI Bank, to continuously keep up with the ever changing demands and expectations of UK savers and this is hopefully what sets us apart from our closest competition.

 

Do you have any keen hobbies outside of the office?

 

I am always keen to keep active outside. I like most sports but especially enjoy running outside when it rains (yes really) which it does quite a bit in the UK. I also enjoy good food and literature.

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