Caroline Plumb

Fluidly

CEO

Caroline is Founder and CEO of Fluidly a venture-backed startup using data and machine learning to deliver intelligent cashflow for SMEs.   Caroline previously co-founded and led FreshMinds, an innovation consultancy, and FreshMinds Talent, a recruiting business. The businesses have won a number of Best Agency awards and have regularly been listed in the Sunday Times' 100 Best Small Companies to Work For. Caroline is one of the Prime Minister's Business Ambassadors, representing the Professional & Business Services sector. She is on the industrial advisory board of the Engineering department and was awarded an OBE in the Queen’s 90th Birthday Honours List in 2016. She has three very noisy small children. @cplumb www.fluidly.com

Event Sessions Featuring Caroline Plumb


Roundtable (Breakout)

Making the Marketplace ‐ Round Table Discussion

London Summit 2018 - 26th March 2018

  • All in attendance were in agreement: marketplaces are something we can expect to see coming out of every digital bank, sooner or later. But will the model become a money maker? Clark doesn't think so, suggesting that Tandem prefers to see its marketplace as simply a "benefit to the customer" over a tool for profitability. Myatt also pointed out that we have yet to determine an exact and widespread definition of what we mean by 'marketplace': does it refer to only third-party products being sold by a bank, or will banks eventually sell their own services and products within their apps too? 
  • In essence, the marketplace model should be about "putting the customer's data back in their hands" and allowing them to get the most out of it, said Barbosa. Indeed, both Chisell and Magliulo added that a marketplace should be about "giving way" to those who are specialised, in order to create the most value for their customers. Campbell mentioned that Bud has found higher traction from users sits on non-core products and services: things like energy-switching, travel perks and insurance. 
  • However Plumb warned that at times the marketplace has become a "sexy term" for a bank's partnership strategy, when what they're really offering is not a true marketplace at all. Often we speak about marketplaces as if they are just one generic product, but as in the case of robo advisors, not all marketplaces will be a good fit. Bibas suggested that each bank should develop a specific strategy for different partners, allowing them to create true customer value.
  • For the future, Moreni highlighted the need for banks to be focusing on what value in a marketplace really means to their customers. Whether you give a customer 10 or 3 choices for a service, "it doesn't matter unless you know what it is your customer needs from you," said Dallas. Muis agreed, sayng that if you want people to give up their data, banks will have to show them the value they're going to gain as a result. While a partnership strategy is a no-brainer for most, it'll be the new categories that come out of the marketplace model that will be the most exciting to watch.



Articles Featuring Caroline Plumb

Cashflow-focused fintech closes £5m fundraise

13th November 2018 | Ryan Weeks

AllBright equity crowdfunding platform now live

13th January 2017 | Lisa Walls-Hester