TIDMBANK
RNS Number : 6067A
Fiinu PLC
26 September 2022
RNS
26 September 2022
Fiinu Plc
("Fiinu" or the "Group" or the "Company")
Fiinu Bank announces key additions to its Executive Team
Fiinu Plc (AIM: BANK), a UK fintech group including Fiinu Bank,
is pleased to announce that its subsidiary Fiinu Bank Limited has
made key additions to its Executive Team as the business pushes
ahead with its mobilisation and prepares to bring to market its
Plugin Overdraft Ò .
The Group's vision is to attract talent from various industries,
and with the business making appointments in several senior
positions at Fiinu Bank Limited, it has made a very positive
start.
Charles Resnick will join Fiinu Bank on 1 November 2022 as Chief
Financial Officer, subject to regulatory approval. Charles was
previously Head of Financial Control at ClearBank Ltd, a specialist
technology enabled clearing bank. Prior to Clear Bank, Charles was
Finance Director at FTSE-250 merchant bank Close Brothers Plc.
John Willcock has joined the Bank as Chief Product Officer. John
has deep industry understanding after a career spanning positions
at Northern Rock, Tesco Bank, Post Office Money, Argos Financial
Services, N Brown Group Plc, and most recently William Hill
International.
Jason Moore has joined as Programme Director for the
mobilisation of Fiinu Bank. Jason comes with a considerable track
record of change delivery with 30 years of experience across
financial services including roles at Legal & General, Aegon,
SS&C Technologies and most recently Brewin Dolphin plc.
Darrin Scott Brent has joined as Head of Technology having
previously been at Aspinall Financial Services Ltd. Darrin has deep
sector and technology experience having worked at Wyelands Bank,
Macquarie Bank and Barclays Wealth Management.
The growing technology platform delivery team which Fiinu is
continuing to build is working on the Open Banking enabled Plugin
Overdraft Ò , which will provide customers with access to an
overdraft with Fiinu without needing to change their existing bank
or current account. With this product, Fiinu aims to introduce
flexibility and competition to the tightly regulated overdraft
market.
Fiinu expects to add to the team over the coming months and will
make further announcements as appropriate.
David Hopton, Chairman at Fiinu, commented: " To be quoted on
AIM and obtain a banking licence is a huge achievement for an early
stage start up in the fintech sector. Having achieved these
milestones, the team at Fiinu are now fully engaged in the process
of building the people and technological capabilities that underpin
our plugin overdraft(R).
"The team we have assembled is making solid progress as we work
towards our target of obtaining regulatory approval to go live in
mid-2023, after we have undertaken a rigorous phase of testing our
product delivery. Open Banking has undoubtedly underpinned the
creation and the design and delivery of our ground-breaking and
competitive entry into the overdraft market, and in my long
experience in banking, I believe our entry to this market will be
welcomed by a varied customer base. This is especially relevant as
our potential customers will have greater need for temporary
short-term funding as they continue to face a difficult
macroeconomic backdrop."
Chris Sweeney, CEO, Fiinu, added: "We are building something
that we believe should change banking for the better, by improving
financial inclusion for millions of people. The new appointments at
Fiinu Bank are testament to the hard work and dedication that our
team and our partners have put in, to get us to where we are today
in delivering our plans for mobilisation and growth.
"We are incredibly proud of the team we are building. We
continue to attract great colleagues who are motivated by working
with like-minded, skilled people who want to work in a respectful
and inclusive environment to build a truly remarkable business.
Building a new bank is not for the faint-hearted, and so we are
massively encouraged by our ability to attract the calibre of
colleagues who share the same vision for improving financial
inclusion across the country."
For further information please contact:
Fiinu Plc via Brazil London
Philip Tansey, Chief Financial Officer
Chris Sweeney, Chief Executive Officer
SPARK Advisory Partners Limited (Nomad) Tel: +44 (0) 203 368 3550
Mark Brady
Adam Dawes
SP Angel Corporate Finance LLP (Broker) Tel: +44 (0) 207 470 0470
Abigail Wayne
Matthew Johnson
Buchanan Communications (Financial Tel: +44 (0) 207 466 5000
PR aviser) Email: Fiinu@buchanan.uk.com
Chris Lane / Jack Devoy
Brazil London (Press office for Fiinu) Tel: +44 (0) 207 785 7383
Joshua Van Raalte / Christine Webb Email: fiinu@agencybrazil.com
/ Jamie Lester
About Fiinu
Fiinu, founded in 2017, is a fintech group, including Fiinu
Bank, authorised by the Bank of England. Fiinu's Plugin
Overdraft(R) is an unbundled overdraft solution which allows
customers to have an overdraft with Fiinu Bank without changing
their existing bank. The underlying Bank Independent Plugin
Overdraft(R) technology platform is bank agnostic, allowing Fiinu
to serve all other banks' customers.
Open Banking allows Fiinu's Plugin Overdraft(R) to attach
("plugin") to the customer's primary bank account, no matter which
bank they may use. Fiinu's vision is built around Open Banking, and
it believes that it increases competition and innovation in UK
banking.
Fiinu obtained its UK deposit-taking banking licence from the
Prudential Regulation Authority (PRA) and the Financial Conduct
Authority (FCA) and was admitted to trading on AIM in July
2022.
For more information, please visit https://www.fiinu.com/
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END
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