Former Westpac CTO heads to payments fintech
Former Westpac CTO Robert Wilson has joined the board of Australian payments fintech Verrency.
Wilson recently retired from the big four bank. His career includes 30 years with international experience in several global institutions, both in financial services and technology.
“Verrency has been on my radar since its inception because it addresses a significant underlying banking industry problem – namely, that it is challenging to connect, build and launch differentiated consumer and small business value-added services quickly and securely without migrating away from decades of legacy payment systems,” Wilson said.
This issue is faced by almost every bank in the world and until Verrency, has been extremely difficult to address,” he added.
Wilson said he was “impressed by the elegance of the Verrency platform” and noted that the business already has “several high-calibre clients already”.
The company has recently announced agreements with a number of major financial institutions around the world, including UAE-based Emirates NBD, Colombia’s Banco Davivienda and Australia's Volt Bank, among others.
“I am thrilled to join the company as it gains scale and helps traditional banks tackle the most critical of customer touchpoint, payments,” he said.
“Having recently been part of the senior executive team at Westpac, Robert is acutely aware of the challenges that banks large and small face in innovating at scale while still leveraging their legacy payment systems, and will be an important conduit to Verrency’s prospective customers,” Verrency founder and CEO David Link said.
Verrency’s API platform sits on top of a bank’s, processor’s or superapp’s existing infrastructure, opening the door for these institutions to deliver better services without changing their existing technology or migrating portfolios.