W1tty appoints Lord Jonathan Hill as a member of their Advisory Board

By Joy Dumasia

Lord Hill of Oareford, the former EU Commissioner for Financial Services, is joining the Advisory Board for UK based financial services start-up W1tty, whose innovative finance app is launching in Lithuania and Poland this Autumn.

Jonathan Hill, a former leader of the House of Lords and Chancellor of the Dutchy of Lancaster who recently led the UK Government’s Listings Review, brings the experience of financial services regulation in both the UK and the EU.

W1tty’s Advisory Board is chaired by Lord Chadlington, a serial entrepreneur with extensive experience in advising financial services companies and governments. The Advisory Board also includes Gene Lockhart, the former CEO of Mastercard International, who has a strong track record in leading financial services firms.

W1tty has been granted an Electronic Money Institution (EMI) licence in Lithuania and recently secured passport rights across the European Economic Area (EEA). It has also applied for an EMI licence in the UK and an EU consumer credit licence.

W1tty, the brainchild of international businessman Ammar Kutait, has been created to offer an entirely new financial services experience – giving customers what they want and rarely get – to be treated as individuals who have a genuine choice over who is their banking partners. W1tty initially targets Generation Z – students and other young people starting their first jobs and building their careers.

Lord Hill added: “Having watched fintech develop since my time as European Commissioner, I am excited by what W1TTY can bring to the market. W1tty has something different to offer, and I look forward to working with Ammar and his team as they work to turn their vision of a financial services business built around the customer into reality.”