Australia-based Trade Ledger is opening is European headquarters in London, bringing its open banking and lending platform for corporates to the continent.
To head the UK operations the firm has appointed Roger Vincent to the newly-created chief innovation officer role. Vincent previously served as Head of Innovation at Equifax U.K. where he spearheaded the firm’s open banking strategy. Lisa Callaghan will move from the role of accountant to Chief Financial Officer at Trade Ledger’s Sydney office according to an announcement by Trade Ledger.
Trade Ledger operates an open banking platform for banks to assess lending risk to their corporate customers in real time. It claims to enable banks to address the £1.2trn of undersupply in trade finance lending globally, while providing high-growth companies with the working capital needed to sustain growth.
Launching in Europe will enable Trade Ledger to take advantage of the market’s open banking regulatory initiatives according to the firm.
Martin McCann, CEO and co-founder of Trade Ledger, said these appointments will support the its entry into ‘the exciting and fast-moving’ European market.
“They will also help us take advantage of huge opportunities created by impending regulatory changes that are driving the pace of bank transformation into tech-driven business models, such as General Data Protection Regulation, Open Banking, and the Revised Payment Service Directive (PSD2),” he added.
“It’s a perfect storm of opportunities for a corporate banking credit platform like us,” concluded McCann.
Earlier this year, Trade Ledger said it would be collaborating in Australia with Switzerland-based alternative lending platform Tradeplus24. Trade Ledger links its infrastructure into Tradeplus24 to support underwriting of small business receivables finance, with Trade Ledger assessing supply chain and invoice data to mitigate risk.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
