With a career in Australia, Europe, and the UK, Will Banks is a business leader who knows how to handle crucial aspects of a business’s structure to drive growth and profitability. As a result of his international recognition, the Australian Federal Government granted him permanent residency through the exclusive Distinguished Talent Visa Program in just 2 1/2 weeks. Thus, he became the first immigrant from Europe and the global fintech sector to receive this rare visa. Will Banks is a fascinating individual with a lot to share. Let’s delve into his thoughts and experiences through his CEOWORLD magazine interview.
Q: From your experience in different countries, which is the friendliest to start a new business, judging by financial and social criteria?
Will Banks: Starting a business is a challenging but rewarding endeavor. The question of where to start a company is not always straightforward, as there are various factors to consider, such as raising funding in one country while establishing the business in another. Additionally, there are many cities and designated regional economic development sites that may be appealing options.
However, if pressed to answer, I would recommend Australia as a potential location for starting a business. Once you have established your network, there are abundant opportunities available in the country. It is important to note that finding the right circle of business associates is crucial in this process, as it can greatly impact the success of your venture.
Q: What is your biggest achievement so far that you are proud of?
Will Banks: One particular achievement that stands out is my involvement in mentoring underprivileged students who have grown up in challenging and unstable environments. As a board member of a London Business School, I had the opportunity to mentor students and provide them with the guidance and support they needed to succeed.
Through my mentorship, I was able to help these students develop the skills and confidence they needed to build successful businesses and secure positions in highly competitive sectors such as financial services. Many of these individuals had never imagined that they would be able to achieve such success. We worked together and as a result, they were able to overcome the challenges they faced and achieve their goals.
I am proud of the impact that I have had on students’ lives and the role that I have played in helping them achieve their goals. I am still in contact with several of them, over a decade after graduating from business school.
Q: How did you decide to move to Australia? How would you describe the business environment in Australia?
Will Banks: In 2019, my family and I made the decision to relocate to Australia, attracted by the wonderful lifestyle, along with the added benefit of having my sister, nephews, and cousin already residing there. This coincided with the Australian Federal Government approaching me, with an expressed interest in my fintech experience and international reputation. Their recognition of my professional achievements led to the granting of permanent residency for myself and my family, within a remarkably short 2 1/2 week timeframe, through the exclusive Distinguished Talent Visa Program. I am honored to be the first migrant from Europe and the global fintech sector to receive this rare visa, which has provided me with a unique opportunity to contribute my skills and expertise to the Australian economy.
In addition to its business opportunities, Australia is known for its open-mindedness towards innovation and new ideas. The country has a friendly and welcoming culture, creating a conducive environment for entrepreneurs to thrive and flourish.
Q: If one has the necessary capital to start a business. Which field would you suggest he get involved in, and why?
Will Banks: As an entrepreneur with a vision for innovation and customer-centricity, I would develop an AI-based business that caters specifically to financial well-being across the financial services industry. The driving force behind the venture would be to enhance the overall customer experience through the creation of bespoke financial products that evolve in tandem with the ever-changing financial landscape and each individual’s financial situation. The ultimate objective of the company would be to ensure the financial well-being of our clients is always safeguarded.
The AI technology that we would employ in our offerings would be capable of generating personalized financial products that are tailored to the unique needs and specific objectives of our customers. This technology would enable us to provide real-time support to our customers around the clock, thereby improving their experience and service satisfaction. Our AI system would interact with our clients on a more personalized level, offering them better support than they could ever receive from human representatives or automated systems.
With a focus on financial services, our AI-based business would be well-positioned to meet the growing needs of customers seeking personalized and cutting-edge solutions. Our innovation-driven approach, combined with our commitment to delivering exceptional customer experiences, would make us a formidable player in the financial services industry. Overall, our vision would be to become the go-to provider of AI-based financial solutions that cater to the unique needs of our customers, ensuring that their financial well-being is always a top priority.
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