TrueLayer continues European expansion with new Headquarters in Dublin
By Joy Dumasia
TrueLayer, Europe’s open banking platform, has announced it has been authorised by the Central Bank of Ireland (CBI) as a Payments Institution and established its new European headquarters in Dublin to support its rapidly growing client base across the continent.
TrueLayer’s choice of Ireland for its European HQ has been in part motivated by Dublin establishing itself as a European financial services centre and strategic hub for innovation, home to around 450 financial services companies, creating a sophisticated fintech and payments ecosystem. The CBI has a strong track record as a regulator committed to delivering quality financial authorisation and supervision.
The European HQ is led by Joe Morley as General Manager for Europe, having joined the firm earlier this year to manage the authorisation process. The former WhatsApp and Facebook executive brings extensive payments and technical and commercial knowledge, having launched and managed the business APIs to monetise both platforms in EMEA. Joe is leading the European management team from Dublin for all supporting functions and the in-market country managers that the company is actively hiring for.
Francesco Simoneachi, CEO and Co-founder of TrueLayer, said: “When we began our search for a European HQ, we wanted a location that mirrored much of what made the UK such an exceptional base for us – a strong regulator, in an established global financial services centre that embraces fintech and digital innovation. Ireland was ideal, with the CBI’s regulatory regime broadly similar to the UK and Dublin being a thriving centre for payments and e-commerce. The city has built an incredible reputation for financial services and offers the talent across engineering, product and payments that we will need to support our ambitious growth plans. We’re only the second firm to be authorised by CBI in 2021, so I’m incredibly proud of the team that worked on the application to make our European HQ a reality.”
Recently, IBS Intelligence reported that TrueLayer, Europe’s open banking platform, has announced that Clement Boulais has joined the firm as General Manager for France.