City of London Group (COLG) has appointed Monica Velasquez-Torres (pictured above) as chief technology officer to support its banking licence application.
Monica took up the role on 1st October and joins the business from PwC where she was a technology consultant supporting more than half a dozen new entrant banks to secure their banking or payments provider licences.
The appointment comes after COLG acquired Echo Financial Services Ltd – currently rebranding to Recognise – which is applying for a banking licence.
If successful, Recognise – which is being led by Jason Oakley, who previously worked at Metro Bank – will be a UK-based SME bank and will become a key element of COLG’s future strategy.
Michael Goldstein, CEO at COLG, said it was delighted to have Monica on board to support the Recognise team.
“Not only does she have a quite incredible academic and technical background, Monica has unique experience of taking new entrants through the licence application process.”
Monica added: “Having worked with the COLG and Recognise management as part of the wider PwC banking consultancy, this was an exciting opportunity to join a talented, very experienced team on their licence journey and to deliver the technology vision.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OakNorth adds former PRA director to advisory board
OakNorth has appointed Martin Stewart as an independent adviser on its advisory board...
HM Treasury to discuss diversity at FP Show
Representatives from HM Treasury’s Women in Finance Charter team will take part in a panel discussion on the role of diversity targets at the Finance Professional Show...
Aldermore agrees over £200m of new invoice finance facilities
Aldermore has announced that it has delivered over £200m of new invoice finance facilities to UK SMEs in the last 12 months...
CYBG completes acquisition of Virgin Money
CYBG has completed its acquisition of Virgin Money...
Penta raises €7m in latest investment round
Business bank account Penta has announced that it has raised €7m for its Series A investment round...
STB Commercial Finance opens Leeds office
Secure Trust Bank (STB) Commercial Finance has opened a new office in Leeds as it continues its national expansion...
Starling expands payment services and banking-as-a-service offer
Starling Bank is expanding its banking-as-a-service and payment services offer to enable other companies to offer retail banking and make payments...
Tandem launches Journey Card
Digital bank Tandem has launched a new credit card to help users who don’t have a credit history to build a strong profile...
Starling set to launch business accounts for multi-director limited companies
Starling Bank has announced that the bank would soon open its business accounts for limited companies with multiple directors...
Aldermore increases rates on business savings products
Aldermore has increased rates across its fixed rate and customised fixed rate (CFRA) business savings accounts...
Teachers Building Society amends lending criteria
Teachers Building Society has updated and amended its lending criteria to provide intermediaries with a detailed overview of its requirements for both teacher and non-teacher applicants...