REG - Fiinu PLC - Fiinu Bank key additions to its Executive Team

FiinuAnnouncement

26/09/2022 09:15

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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 OverdraftÒ.

 

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 OverdraftÒ, 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®.

 

"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 PR aviser)       Tel: +44 (0) 207 466 5000

 Chris Lane / Jack Devoy                             Email: Fiinu@buchanan.uk.com (mailto:Fiinu@buchanan.uk.com)
 Brazil London (Press office for Fiinu)              Tel: +44 (0) 207 785 7383

 Joshua Van Raalte / Christine Webb / Jamie Lester   Email: fiinu@agencybrazil.com (mailto:fiinu@agencybrazil.com)

 

About Fiinu

 

Fiinu, founded in 2017, is a fintech group, including Fiinu Bank, authorised
by the Bank of England. Fiinu's Plugin Overdraft® 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® technology platform is bank agnostic, allowing Fiinu to serve all
other banks' customers.

 

Open Banking allows Fiinu's Plugin Overdraft® 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/
(https://www.fiinu.com/)

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