In a rapidly evolving world, digital transformations are reshaping industries at an unprecedented pace. One of the key figures driving these innovations is Varvara Soloveva, an internationally acclaimed expert known for her groundbreaking work in large-scale digital transformations in the banking industry. Varvara has the unique ability to seamlessly integrate customer-centric approach and advanced analytics across digital product development and sales acceleration, proactively anticipating market shifts. She has led transformative projects that redefined industry standards for digital customer experience across Europe, Asia, and, recently, North America. This article showcases two distinct examples of Varvara’s work with leading banks in Russia and Singapore, demonstrating how her efforts have transformed the way millions of customers interact with their banks.
Revolutionizing Credit Card Services at one of the largest banks in Russia
One of Varvara’s notable contributions was leading a project at one of the largest banks in Russia to digitize credit card sales, onboarding and servicing processes, including card selection, product application, onboarding, card activation, product customization, digital use, and debt repayment during COVID-19. Varvara’s efforts included conducting customer research for NTB (new-to-bank) and NTP (new-to-product) clients, redesigning the card offering to include features like free maintenance and commission-free cash withdrawals, and introducing tailored loyalty programs with travel rewards and up to 1.5% cashback. Additionally, she redesigned customer onboarding journeys to ensure a seamless digital adoption experience.
The new streamlined process offered customers an end-to-end digital experience. For instance, customers could select a credit card type, complete an application form online, and receive an instant decision—all through the bank’s digital platform. Once the credit card parameters (such as credit limit and payment system) were finalized, the issuance was immediate, allowing customers to activate the card via Apple Pay without delay. Additional product features, such as cash-back programs, insurance options, and easy access to reward programs, were all made configurable through the bank’s app, giving customers control over their financial products.
This reimagined journey brought financial services to millions of customers in a manner that was convenient, secure, and aligned with their evolving needs. The results of this transformation were impressive and reset the industry benchmarks in the country, with significantly increased conversion rates, a remarkable 12% improvement in customer acquisition ROI, and fast adoption during a period of significant disruption during pandemic. The digital application process was optimized to be twice as fast, enabling customers to complete applications quickly and receive an immediate decision directly on the website, contributing to a 7% increase in sales of a new digital card.
Digital Transformation at one of the largest banks in Singapore and Asia
Varvara’s work continued to make an impact—this time at one of the largest banks in Singapore, where she drove a comprehensive digital transformation of the bank’s Retail and SME services across multiple Asian markets, including Singapore, Hong Kong, and China. She led initiatives that enhanced customer experience and reimagined how traditional banking could transition into a digital-first model.
Varvara’s key contributions focused on shifting banking operations to self-service digital channels, emphasizing efficiency and improved customer convenience. This included launching customer awareness campaigns to alleviate concerns around cybersecurity, educating customers on the advantages of interacting digitally, and enhancing incentives to encourage digital transactions. Varvara also proposed expanding the bank’s portfolio of digital services (e.g., launching chatbots, modifying payees for transfers on the App), ensuring most requested services were available.
Through her leadership, the bank became an industry benchmark for digital transformation, improving its market positioning and becoming a pioneer in utilizing advanced technologies. Key results included achieving 80-90% of deposit and credit card and personal loan sales via digital channels for the mass segment, reducing in-branch financial transactions by 70-85%, and successfully onboarding over 30% of affluent clients through digital means. This holistic approach led to both mass and affluent customers increasingly embracing digital solutions, setting a new benchmark for service excellence. As a result of those efforts, the bank has earned the prestigious title of the Best Digital Bank of the Year in several consecutive years.
A Digital Visionary Redefining Financial Services
Varvara Soloveva’s contributions to the leading global banks exemplify her remarkable ability to transform financial institutions into digital leaders. Her pioneering approach—combining in-depth customer research, advanced analytics, and a digital-first mindset—has allowed her to drive meaningful change that extends far beyond product launches. Varvara’s work has not only improved accessibility to financial services for millions but also redefined what it means for a bank to be truly customer-centric in a digital age.
Looking ahead, Varvara is continuing to be at the forefront of innovation, leveraging GenAI technologies to transform banks and tech companies by enhancing personalized customer experiences, streamlining internal processes, and creating more intuitive, AI-driven financial products that meet evolving consumer needs.
As the world increasingly shifts towards digital solutions, leaders like Varvara Soloveva are instrumental in ensuring that financial institutions keep pace with the changing times, ultimately benefiting consumers and setting new industry standards.
