We’re delighted that Nicki Davies, Head of Third-Party Oversight & Operations – Contract Hire, Santander Consumer UK, has been shortlisted for the Women in Credit Awards as Innovator of the Year.
We caught up with Nicki ahead of the awards night to find out more about her passion for innovation, and what inspires her to foster a culture of innovation within her team.
Congratulations on being shortlisted for Innovator Leader of the Year! How does it feel to be recognised for your work at the Women in Credit Awards?
I feel incredibly honoured and proud. Being shortlisted is a moment of immense pride for me, but more so for the entire team. This recognition feels like the culmination of years of hard work and dedication. It validates the efforts we’ve put into pushing boundaries and achieving significant milestones, not just in the last 12 months but across several years. I’m deeply humbled to be recognised for something that wouldn’t have been possible without the collective contributions of my team.
Could you share a bit about your career journey? How did you get started in the motor finance industry, and what has your path looked like so far?
I started as an adviser in the call centre back in 2000. Over the years, I’ve taken on a variety of roles across the business, including operations, training, people management, projects, and third-party oversight. I firmly believe in creating your own path in life, and throughout my journey, I’ve consistently stepped out of my comfort zone to take on challenging roles. Progression didn’t happen overnight. I focused on gaining as much knowledge and insight into the business as possible before advancing up the ladder. That experience has been invaluable to my personal development, helping me become more confident in my decisions and approach to work. My current role is undoubtedly the most challenging but also the most rewarding.
Innovation is a key focus of Santander Consumer’s strategic goals. What does innovation mean to you, especially within the context of motor finance?
For me, innovation goes beyond adapting to industry changes—it’s about anticipating them and leading the way. The motor finance sector is surrounded by layers of regulation and red tape, but innovation is about making things as simple and seamless as possible for our customers, despite these complexities. In this context, innovation means finding smarter ways to enhance our services, whether it’s by introducing new technologies or rethinking traditional processes. It’s about ensuring compliance and efficiency without sacrificing the customer experience. Ultimately, innovation is the key to creating a smooth, personalised journey for our customers—one that feels effortless, even in a highly regulated environment. This, in turn, drives long-term loyalty and success.
What inspires you to innovate? Are there specific trends, books, technologies, or personal experiences that drive your creative thinking?
My greatest inspiration is the customer experience. I always ask myself, “What would I expect as a customer?” By putting myself in the customer’s shoes, I can better understand their needs and frustrations. This mindset has been the driving force behind many of the changes we’ve implemented, focusing on simplifying and streamlining processes to create a more seamless, enjoyable experience. Additionally, having worked in a lean team for the past eight years, I’ve had to stay fully up to date with evolving regulations and industry trends. This has been critical not only in ensuring compliance but also in protecting the department against any challenges posed by customers or regulatory shifts. The experience of navigating these complexities has sharpened my problem-solving skills and reinforced the importance of innovation in maintaining efficiency and resilience. Ultimately, I’m driven by the desire to continuously improve our offerings and to ensure that the department remains adaptable, compliant, and customer-focused in an ever-changing landscape.
Many people struggle to bring new ideas to life in traditional industries such as finance. How do you foster a culture of innovation in your team or projects?
To foster a culture of innovation, I believe it’s essential to create an environment where everyone feels empowered to share their ideas—no matter how big or small. Encouraging open dialogue and collaboration is crucial.
Innovation often involves experimentation, and it’s important to allow room for trial and error. By cultivating a culture that values continuous learning and development it can bring fresh perspectives to the table.
What advice would you give to other professionals, especially women, looking to innovate and make a mark in the motor finance sector?
My advice is to trust in your ideas and never underestimate your potential. The motor finance industry is ripe for innovation, but meaningful change often comes from those willing to step outside the norm. Don’t shy away from roles or projects that challenge you. For women, especially, it’s vital to build a strong network of mentors and peers. Surround yourself with people who can offer guidance, support, and honest feedback. A solid network not only helps you navigate challenges but also gives you the confidence to seize opportunities and make your mark.
Can you tell us about a project or initiative you worked on that you believe showcases your innovative approach, or that you’re particularly proud of? What challenges did you face, and how did you overcome them?
One of my proudest achievements has been designing and implementing the entire third-party oversight framework for the third-party I manage. Before this, there was no formal structure in place, and the lack of oversight presented significant risks. I led the effort to create comprehensive management information, data reporting processes, and governance structures, along with improving existing policies and procedures. The biggest challenge was driving organisational change in an area that had been underdeveloped and overlooked. There was resistance to such a significant overhaul, but through persistent collaboration and transparent communication, I was able to showcase the importance and long-term benefits. The result was not only the creation of a robust oversight system but also the substantial growth of the department, which now employs significantly more people. This initiative has laid the foundation for sustainable, long-term success and growth.
Lastly, outside of your professional achievements, what are some things that people might not know about you? Any hobbies, passions, or fun facts you’d like to share?
Outside of work, I’m a strong advocate of St John Ambulance, where I volunteered for a few years. I love the dedication and contribution in helping the community and those in need. I also enjoy exercising, which helps me maintain balance and manage the demands of work and life. Most importantly, I’m a full-time mum to two girls—a role that challenges me in the best way and brings me immense joy.