Former JP Morgan exec Basil Bailey appointed new TrueLayer Ireland CEO
TrueLayer, a UK-based open banking network, has appointed Basil Bailey as CEO of its Irish arm and general manager of its European business. Bailey will also join TrueLayer Ireland’s board as an executive director.
Basil Bailey joins TrueLayer Ireland (Image: TrueLayer)
Bailey previously served as EMEA director of product management at Fiserv, CEO and director of JP Morgan’s two European acquiring and issuing entities, as well as a variety of leadership positions at Mastercard, PayPal, and Xpert Technology.
In his new dual capacity, Bailey will manage TrueLayer’s European operations and oversee the commercial and regulatory functions of the company’s Irish operations.
Since its founding in 2016, TrueLayer is said to have processed over $64 billion in payments, and recently surpassed 10 million users.
The company claims to handle “almost half of all open banking payments” in the UK, while powering Pay by Bank services for Irish businesses such as AIB, Bank of Ireland and Ryanair.
Last year, TrueLayer reportedly reduced its headcount by around 25% in its pursuit of profitability. The firm also secured an additional $50 million in an extension of its $130 million Series E funding round from 2021.
