Corporate open banking lending platform Trade Ledger has announced it will be opening its EU headquarters in London in a show of confidence in the UK’s continued access to European markets.
The Australian startup, founded in 2016 in Sydney, uses its digital business lending operation to support cash flow lending products.
The news comes after Trade Ledger won the Open Innovation Challenge from Barclays Bank last month, whilst recently participating in the Australia-UK Chamber of Commerce-sponsored fintech trade mission.
Martin McCann, CEO and Co-Founder of Trade Ledger highlighted two new appointments as part of the startup’s “Born Global” strategy to enter the European market. He said Equifax veteran Roger Vincent will step into the newly-created Chief Innovation Officer role to head up UK operations, while Lisa Callaghan will move from the role of accountant to Chief Financial Officer at Trade Ledger’s Sydney office.
McCann said: “These appointments will strongly support the next part of our “Born Global” strategy – entry into the exciting and fast-moving European market.
“They will also help us take advantage of huge opportunities created by impending regulatory changes that are driving the pace of bank transformation into tech-driven business models, such as General Data Protection Regulation, Open Banking, and the Revised Payment Service Directive (PSD2).
“It’s a perfect storm of opportunities for a corporate banking credit platform like us.”
Vincent mentioned the retail banking sector’s significant disruption through technological and regulatory advancements.
He added: “We’ve seen significant disruption in the retail banking sector through a number of significant regulatory and technological advancements, but have only yet scratched the surface of what’s possible.
“SME’s are the lifeblood of domestic and international GDP, so applying my skills to help these businesses survive and grow is going to be incredibly rewarding. Doing it with a team as talented as Trade Ledger is going to be very special indeed.”
Computer Business Review has contacted Trade Ledger for further comment on their apparent confidence in the UK as a springboard to European growth.
