Richard Bastin joins the digital challenger to banks as chief technology officer and brings extensive experience as a CTO in numerous regulated fintech firms, including RateSetter.

The company has also hired Donna Cunliffe to the newly established role of operations risk director and Jackie Gray as head of audit.

The appointments follow the announcement that former Hampshire Trust Bank CEO Mark Sismey-Durrant would be joining the board of Cashplus as an independent non-executive director and chair of the audit committee, subject to regulatory approval.

Donna brings over 30 years of experience to the team, including knowledge of SME and corporate customer service across large UK retail banks.

In her new role, she will play a key part in keeping Cashplus at the forefront of financial crime prevention.

Meanwhile, Jackie brings with her experience in leading internal audit functions and conducting governance, risk management and assurance projects in the financial services sector, both within the UK and internationally.

Cashplus hopes the new hires will add momentum as it drives forward its strategy to become the UK’s leading digital bank for SMEs.

"While Cashplus works towards obtaining its banking licence, I want to ensure that we have an effective corporate governance structure and proven industry talent to provide the best possible outcomes for our customers,” said Rich Wagner, founder and CEO at Cashplus (pictured above).

“I look forward to working with Richard, Donna and Jackie as Cashplus continues the next exciting stage of its journey to become a bank."

Earlier this year, Cashplus announced plans to hire 400 additional staff over the next five years.