Payments Expert Basil Bailey Joins TrueLayer to Spearhead European Expansion
TrueLayer, recognized as the UK’s leading Pay by Bank network, has officially appointed Basil Bailey as the new CEO of TrueLayer Ireland and General Manager for its European operations. This strategic move is set to enhance TrueLayer’s commitment to revolutionizing the payments landscape across Europe.
Leadership Role of Basil Bailey
In his dual capacity, Basil Bailey will manage both the commercial and regulatory aspects of TrueLayer Ireland, which possesses a European Payments Institution (PI) license and is under the regulation of the Central Bank of Ireland. Additionally, he will oversee the broader European operations of TrueLayer while serving as an executive director on the TrueLayer Ireland board.
About TrueLayer
TrueLayer stands out as a premier open banking platform that empowers businesses to securely access financial data and initiate payments. The company’s innovative Pay by Bank solution is transforming how payments are processed, providing users with:
- Faster transaction speeds
- Enhanced security measures
- Cost-efficient payment options
Basil Bailey’s Extensive Experience
Basil Bailey arrives at TrueLayer with an impressive background in the payments industry, having accumulated decades of leadership experience. His previous roles include:
- Managing Director at JPMorgan’s Acquiring business in EMEA
- CEO and Director of European Acquiring and Issuing entities at JPMorgan
- Senior positions at Fiserv and PayPal, including Global Director of Financial Services
- Director of Global Consumer and Commercial Payments at Borderfree
Earlier in his career, Bailey served as the Chief Commercial Officer at Orbiscom, which was later acquired by MasterCard, where he held various senior roles including Vice President of Global Strategic Alliances. His diverse experience also encompasses roles in IT and telecommunications with companies such as Horizon Technology Group and Esat Telecom.
TrueLayer’s Growth Trajectory
Bailey’s appointment comes at a crucial time for TrueLayer, as the company experiences significant growth. Key highlights include:
- Over 10 million users served
- Processed payments exceeding $64 billion
- Capturing nearly 50% of all open banking payments in the UK
- A revenue increase of over 50% in the past year
Notable clients such as Ryanair, Just Eat, Revolut, and Lastminute.com are part of TrueLayer’s expanding portfolio.
Statements from Leadership
Francesco Simoneschi, co-founder and CEO of TrueLayer, expressed enthusiasm about Bailey’s addition to the team, stating, “Ireland and Europe are major growth markets for TrueLayer, and Basil’s strong leadership and deep payment experience will be crucial as we enter our next phase of growth.”
In his own words, Basil Bailey remarked, “I’m very excited to join TrueLayer at such a pivotal point in its journey. With more major merchants adopting TrueLayer’s Pay by Bank option, we are changing how the world pays.”
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