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
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...