TrueLayer Expands Leadership with Basil Bailey from JP Morgan as New CEO for Irish and European Operations

TrueLayer, the UK-based open banking network, has appointed Basil Bailey as the CEO of its Irish division and general manager of its European operations. In addition to his new roles, Bailey will also serve as an executive director on TrueLayer Ireland’s board.

Bailey brings extensive experience in the payments and financial services sector, having previously held leadership roles at major institutions. He served as EMEA director of product management at Fiserv, led JP Morgan’s European acquiring and issuing entities as CEO and director, and held key positions at Mastercard, PayPal, and Xpert Technology.

In his dual role, Bailey will be responsible for overseeing TrueLayer’s European operations, managing the company’s commercial strategy, and ensuring regulatory compliance within its Irish business.

Since its launch in 2016, TrueLayer has reportedly processed more than $64 billion in payments and recently surpassed 10 million users. The company has also stated that it facilitates nearly half of all open banking transactions in the UK and powers Pay by Bank services for major Irish businesses, including AIB, Bank of Ireland, and Ryanair.

In its pursuit of profitability, TrueLayer reduced its workforce by approximately 25% last year. The firm also strengthened its financial position by securing an additional $50 million in an extension of its $130 million Series E funding round from 2021.

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