Financial app operator Mode Global Holdings PLC (LON:MODE) has appointed one of the architects of open banking as its new chief technology officer (CTO).
The London-listed fintech group has hired Jonathan Conway with immediate effect, as it moves towards an update to its app whereby customers will soon be able to “seamlessly manage their traditional money and digital assets such as Bitcoin, make instant payments, earn rewards in Bitcoin and receive personalised offers from merchants, all from one app”.
READ: Mode Global unveils ambitious expansion plans alongside £6mln share placing
Conway co-authored the payments and security sections of the UK Open Banking Specification, which lays out an open standard that enables account-to-account payments, and a safe and secure way for third parties to interact with customers' bank accounts, was an API and payments architect at Mastercard and was CTO at Banked, an open banking payments startup.
Jonathan Rowland, Mode's executive chairman, said: "Jonathan brings a wealth of experience in payments and open banking, a key pillar of growth and innovation for Mode as we build out our new suite of products and services.
“The skillset he brings coupled with our expanding team of talent will be crucial to our ambition to build, launch and grow our innovative payment solutions, the next step in our mission to create an all-encompassing super app with payments, loyalty and digital assets combined into one."
Conway added: “Given my track record in this area and knowing Mode's ambitions, I'm delighted to be a part of this team and really look forward to helping the company to realise its goals.”
Last month, Mode announced plans to launch its novel payments and loyalty solution in the second quarter of the calendar year, which it says will provide merchants with an alternative that does not involve interchange fees and will boost loyalty amongst consumers.
The company, which floated in October, has also reported record trading volumes and customer growth for its Bitcoin app, which was made available for Android-based smartphones last month, to add to its existing customers on Apple’s iPhones.
Mode also became the first UK plc to diversify its treasury holdings into Bitcoin as part of a long-term strategy to protect investors' assets from currency debasement.