Fiinu announces four senior hires to support growth plans in anticipation of Bank of England licence authorisation
Fiinu announces the appointment of four additional members to its Senior Leadership Team. Chris Sweeney, Philip Tansey, Huw Evans and Wan Chuen Lau all join the company in anticipation of Bank of England authorisation of its bank licence application.
Fiinu submitted its application to the Bank of England for a licence in December 2021. The firm is currently preparing its unique banking offering to help retail customers build their credit profiles through the provision of a credit limit by a bank lender rather than less mainstream providers. Fiinu’s offering will help improve financial inclusion, instead of eroding customers’ credit scores.
Joining the executive management team as CEO is Chris Sweeney, who provides a wealth of experience in both retail banking and consumer finance, alongside a proven track record of driving businesses through strategic transformational development. With over 20 years’ experience in the industry, Chris joins after a period as CEO of 118 Money, and previously as CEO of Vanquis Bank, where he drove the bank’s key digitalisation agenda.
The company’s new Group CFO, Philip Tansey, joins Fiinu from AIM quoted financial services group, WH Ireland Group Plc, where he acted as CFO and COO. Alongside this expertise, Philip has extensive experience leading global operations in dynamic enterprises, positioning Fiinu well for potential future international expansion. Philip has also previously worked at Panmure Gordon, BGC Partners, Deutsche Bank and Credit Suisse in a career spanning over 20 years.
Huw Evans joins the Board as an Independent Non-Executive Director (iNED) after nearly 40 years’ experience in financial services, including 30 years at Barclays Bank. With expertise in wholesale, small business and consumer credit, as well as enterprise-wide banking risk, Huw brings with him vast knowledge as a seasoned risk professional. Prior to joining Fiinu, Huw was Chief Credit Officer at the Commercial Bank of Qatar where he was responsible, amongst other things, for all aspects of enterprise-wide consumer credit origination, processing, scoring and recovery.
Wan Chuen Lau has joined as Chief Conduct and Culture Officer. Prior to Fiinu, she led the legal, operational and portfolio management functions at Wadhawan Global, a family office with a specific mandate to invest in UK financial services firms, start-ups and technology enablers. Previously she worked at PwC, where she assisted the senior partner to grow a new banking licencing business unit and became the leader in assisting technology-led start-ups to gain authorisation in the UK. She has also led teams at the FSA/FCA focusing on M&A and new authorisations involving niche business models, including fintechs.
David Hopton, Chairman at Fiinu, commented:
“The market we are looking to address demands the highest standards of oversight and care and we believe that our senior hires have the expertise to guide us to our next phase. The overwhelming majority of us are feeling the emerging cost of living crisis. This has created an exciting area of potential growth for a new niche banking model, with an unbundling strategy and borrowing long, lending short business principles. I am proud to chair a new bank-in-waiting which has the right expertise and ambition to provide a real helping hand to customers, while innovating traditional banking.”
Dr Marko Sjoblom, Fiinu’s Founder, added:
“These senior appointments mark our confidence in our anticipation of Fiinu’s regulatory approval. The combined experience of the new senior management team is impressive and showcases a varied and highly relevant skillset, allowing us to see our vision through as an authorised bank in the future. Fiinu has a unique offering for customers, and we look forward to talking more about this in the coming months. I firmly believe that our fintech platform will revolutionise financial fairness and provide much needed freedom for consumers.”
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