Jaja Finance announces new CEO
Following the acquisition and migration of the Bank of Ireland’s UK credit card portfolio to Jaja’s own systems, Jaja has announced that its CEO, Neil Radley, has decided to step down from his full-time executive role at Jaja. Jaja has announced that its new CEO will, pending regulatory approval, be David Chan.
Commenting on the change, Neil Radley said, “It’s been a real honour to lead Jaja over the last two and half years. In that time we’ve not only brought Jaja’s exciting, disruptive, digital credit card offering to the UK market but also given the business the sort of scale other fintechs can only dream of by combining it with former Bank of Ireland UK credit card customers.”
“However, now that the migration has been completed and a new chapter opens up for Jaja, I feel the time is right to hand over the reins to a new CEO: this will enable me to revert to my pluralist role, supporting a range of businesses in the UK and overseas.”
Commenting on the change, David Chan said, “I’m very excited to be joining Jaja as it enters this new phase in its development. The combination of Jaja’s market-leading technology with the scale of the former Bank of Ireland UK credit card portfolio gives Jaja the potential to be a major player in the consumer cards and payments space. I’m looking forward to building on the great work done by Neil and the team to help Jaja deliver on this potential.”
Notes to editors:
• Jaja provides digitally-led credit card products with a focus on simplicity, functionality, service and security. It was founded by three London-based Norwegian entrepreneurs, is headquartered in London and regulated by the FCA, it combines the technical and digital capabilities of a modern technology business with deep retail financial services and credit card sector experience.
• In June 2019, Jaja signed a long-term partnership with the Bank of Ireland and acquired the Bank of Ireland UK, Post Office and AA credit card accounts. This acquisition forms part of Jaja’s strategy to scale its UK credit card business by working in partnership with other financial institutions and consumer brands. As part of the partnership, Jaja has become the consumer credit card issuer for Bank of Ireland UK and its strategic long-term partner, the AA.
• David Chan served as Chief Executive Officer of Monedo, which uses machine-learning technologies to provide access to better credit for underbanked customers between May 2018 and September 2020. He has over two decades’ experience working in the financial services industry in the UK, USA and Germany, having spent 10 years at Barclays in a series of management roles including as CEO of Barclaycard Europe. He has also worked at Citigroup in a range of roles including Chief Risk Officer.
• Neil Radley will continue in his role whilst regulatory approval is sought for David Chan.
• Neil Radley joined Jaja in February 2018 as Chairman and CEO.
• Jaja is backed by a consortium of funds affiliated with Centerbridge Partners LP and KKR.