Former Westpac CEO Brian Hartzer appointed as chairman of Beforepay

By Leandra Monteiro

Former Westpac CEO, Brian Hartzer, who resigned from the Australian bank in 2019 amid a wave of massive controversy, has been named the new chairman of emerging FinTech Beforepay.

The Sydney-based Beforepay is a ‘pay on demand’ service, giving customers instant access to their earnings by applying a buy-now pay-later (BNPL) type model to salaries. The FinTech currently has more than 100,000 active customers in Australia and also recently raised a $45 million debt facility with Longreach Credit Investors.

Hartzer joins another Westpac alumni at BeforePay in the shape of CEO James Twiss, who was formerly the chief strategy officer at Westpac until April this year. Hartzer said he is honoured to be joining Beforepay at this key moment in the company’s growth.

“Beforepay meets a genuine need in the market for short-term consumer finance that has largely been overlooked by banks. I was impressed by their model and how their success is tied to a customer’s good repayment habits, in stark contrast to predatory models in the market. It’s terrific to see Beforepay using technology to innovate and lift the sector,” shared Hartzer.

According to media reports, Speaking of the appointment Hartzer, Twiss said, “His strategic capabilities are what we need in a chairman and will add tremendous depth of experience to our board and support the leadership team as Beforepay continues to grow and evolve.

This week we’ve completed $100 million in pay advances and continue to grow rapidly. We’re heartened to see that the market continues to be very receptive to our product, and we’re only just scratching the surface.”