Cashplus appoints Francesca Shaw as non-executive director

 

21st April 2021: Leading digital challenger Cashplus Bank today announces the appointment of Francesca Shaw to its board as an independent non-executive director and chair of the audit committee, subject to regulatory approval.

The appointment follows Cashplus Bank being granted a UK bank licence by the Prudential Regulation Authority (PRA) in February this year.

Shaw has nearly 40 years of experience across a wide range of senior governance and commercial roles within UK and international banks. She most recently served as Chief Financial Officer at C Hoare & Co. in London, before retiring in 2020, and previously worked at TD in the US and Canada, and CIBC in Canada and the Caribbean.

Shaw’s arrival follows the recent appointment of Mark Sismey-Durrant, a former CEO of Hampshire Bank Trust, as Chair. In the run up to bank authorisation, Cashplus also made several key executive appointments, including Donna Cunliffe as Operations Risk Director, Jackie Gray as Audit Director and Helen Cowper as Chief Human Resources Officer.

Cashplus Bank Chair, Mark Sismey-Durrant said: “I am delighted to welcome Francesca to the board. She brings extensive experience in board and governance roles and across a range of commercial and strategic areas. She joins the board at an important moment in Cashplus Bank’s history and her expertise will no doubt be invaluable in supporting the company through its next phase of growth.”

Francesca Shaw, said: “I am very pleased to be joining the Cashplus Bank board at what is both a very exciting time for the business and a uniquely challenging period for the wider economy. As a recently-authorised bank Cashplus will play an important role in supporting the UK’s small businesses as the economy begins to recover from the Covid-19 pandemic and I look forward to working with the board and with Rich Wagner and the executive team as we move forward with these plans.”   

As one the of the UK’s leading fintech challengers, Cashplus Bank has served over 1.6m customers since it launched in 2005, providing smart, simple digital banking and lending products for SMEs and consumers. Following its bank licence, Cashplus can use part of its £500m of customer deposits for lending and aims to provide £1bn of credit to UK small businesses throughout the recovery from the Covid-19 crisis.

Cashplus currently serves 7% of all new UK businesses and, with company formations hitting record monthly highs during the pandemic, Cashplus expects to grow its share of this market to at least 10% within the next three years. To achieve this, the company will focus its product and customer service development around the needs of the 600k new companies registered in the UK each year and the 5.7m businesses with fewer than 10 employees.

-ends-

About Cashplus

Cashplus is a leading UK challenger bank with a 15-year track record of digital innovation, dedicated customer service and strong financial performance. A true fintech pioneer, we offer faster, smarter, simpler banking services for the entrepreneurs, independent businesses and consumers that power the UK economy, yet are too often overlooked by high street banks. Since 2005, we’ve created easier ways for more than 1.6m customers to pay, bank and borrow through our user-friendly digital platform, delivered a string of fintech firsts and built a sustainable, growing business providing more than 250 jobs in the UK with locations in London, Liverpool and Birmingham.

  • 1.6m customers served
  • 7% share of all new UK businesses
  • 20bn in payments processed
  • 10 years + of strong revenue growth
  • £640m total lending
  • 9 straight years of operating profit

 

Cashplus is a trading name of Advanced Payment Solutions Ltd. 

Media Contacts

Alex Moorhouse
Corporate Affairs Director, Cashplus
[email protected]

+44(0)7834 780 299

Adam Taylor
Cicero/AMO
[email protected] / +44(0)7745390903

Terms and Conditions apply, including applicants being resident in the UK & aged 18+ and, if relevant, businesses being based in the UK.

For full website terms including information on Cashplus Bank, Mastercard and use of Trademarks, please see our full legal disclosures at https://www.cashplus.com/legal/.

Advanced Payment Solutions Limited (APS) provides credit facilities subject to approval and affordability, and where accounts continue to meet APS credit criteria. APS is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Our Firm Reference Number (FRN) is 671140.

♦Calls to 03 numbers cost no more than a national rate call to a 01 or 02 number and will count towards inclusive minutes in the same way as 01 and 02 calls. Calls may be recorded.

Mastercard logo