Xinja Bank hires CTO
The neobank has hired a former digital solutions architect of Moven bank to help build Xinja Bank”.
John Pountain who will take on the job as chief technology officer has also worked at BT Financial and Macquarie Group.
In a statement, the bank said Pountain will help “build Xinja Bank, with technology that will change banking for Australians who never want to walk into bank branch or join a bank queue.”
Pountain said that banking is a very profitable industry with very low levels of consumer satisfaction.
But that technology, data and the right framework, including ethical behaviour, offer an alternative”.
“People want to be able to move their money around quickly and easily. They want to be able to track their spend, earn more interest and pay less, and they want to see quickly and easily the best options for them, all digitally, through their mobile,” Pountain said.
“Our technology will allow us to scale into these solutions, and most importantly into building out our data and AI capabilities to deliver hyper-personalised services for customers.
“It’s time customers’ data was used to benefit them rather than the institutions they bank with; we are very excited about the CDR and open banking and what it can deliver for people.”
Xinja which was granted a restricted bank licence in 2018 has applied to APRA for the full licence.
It has appointed futurist Brett King as an advisor to the board. King was an advisor to the Obama White House on banking. Thomas Vikstrom, formerly a senior Tesla engineer, is on the Xinja Board.