Back in September, the Swedish Financial Supervisory Authority (SFSA) granted the license to Northmill AB to conduct banking operations. In the latest development, the Swedish fintech company has appointed Georges Mansourati as the new Chief Analytics and Credit Officer.
For the uninitiated, Northmill is a Sweden-based fintech company, which offers cloud-based financial services. Founded in Stockholm, Northmill has 200 000 customers and 125 employees, with over 50 percent working with IT, in three countries.
Hikmet Ego, CEO at Northmill, commented:
Georges is another proof that we are attracting the very best, and we are very happy to have him on board. He has extensive Swedish and international experience in establishing and accelerating analytics and credit operations on a very high level. Georges’ deep knowledge in data- and credit analysis will enable us to continue to be proactive and position ourselves even closer to the customers’ needs. This becomes increasingly important as we are planning to broaden our product portfolio substantially in the near future, and at the same time, we put in an extra gear in work to establish ourselves as an international tech bank.
To date, Georges has held several leading roles during his eleven years at Swedbank, such as risk analyst, trader, business owner for advanced analytics, and as head of the XVA and Capital Management desk.
Developing next-gen models!
With this designation, George will lead the analytics and credit team in developing the next-generation models, aiming to transform data into products. Notably, George will be part of Northmill’s Management Team.
Georges Mansourati commented:
I am really excited to become a part of one of Europe’s most promising and profitable companies in the fintech-sector. It is clear to me that Northmill is a tech company conducting banking services where innovation and product development are at the core. The ability to move fast, the scalability, and effectiveness in the processes appeal to me, and I really believe in the company’s capacity to deliver on the vision to improve the everyday financial lives of our customers. There is a genuine commitment to becoming a challenger to a traditional industry, and in that journey, I look forward to playing an important role.
Hired new Chief Risk Officer
Post the acquisition of banking license, Northmill has been investing in analytics, risk, IT, and compliance. It’s worth mentioning that Northmill recently hired Daniel Roxö as a new Chief Risk Officer (CRO) and doubled the number of employees in the tech department in the third quarter of 2019 as well.
If you are unaware, Daniel has broad experience from working with both business and risk in Sweden as well as the Nordic and Baltic regions, and he has held several leading roles within the banking and finance sector.
Rebilla!
Northmill’s new brand Rebilla as of today, consists of three products and features – Reduce, Reward, and Reassure with the sole purpose of simplifying and optimizing everyone’s financial life.
Rebilla Reduce: This service makes it possible for everyone to lower their interest rate on existing credits, partial payments, and credit card bills.
Rebilla Reward: A loyalty program that lowers the interest rate every time a customer pays their invoice on time, down to 4.69 percent.
Rebilla Reassure: It is a payment protection insurance (PPI), also called loan insurance. The PPI is developed to fit each customer’s unique situation and help the customers.
Hikmet Ego commented:
Imagine that you have a personal banker that works for you twenty-four-seven all year round, with the sole purpose of improving your personal finances, by, for example, offer you lower interest rate or tailor your insurances so that you only pay when you use them. All this in order to save you money. That is what we create with Rebilla, but we replace the banker with technology.
Image credit: Northmill
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