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XYB announces Derek Joyce as new CEO ahead of Monese split

  • New CEO Announcement:
    • XYB appoints Derek Joyce as CEO.
    • Joyce has over 20 years of fintech leadership experience, including roles at Bread Financial, Klarna, and American Express.
  • Company Background:
    • XYB is a Coreless Banking Platform-as-a-Service (PaaS) provider.
    • Announced its split from parent company Monese less than a month ago.
    • Joyce previously advised XYB’s fundraising and separation from Monese.
    • Joyce will co-found the standalone business with Monese CTO Jonas Kiiver.
  • Company Mission and Operations:
    • XYB aims to accelerate the transition to accessible and innovative banking.
    • Operates cloud-based microservices infrastructure with dependency-free engines.
    • Provides 172 retail and business-specific services through its partner network.
  • Client and Partner Network:
    • Powers services for multiple Tier 1 banks, including HSBC’s Zing.
    • Maintains partnerships with several global cloud providers.
  • Technology and AI Integration:
    • Plans to enhance its platform with deeper AI investment.
    • Uses AI in its transaction monitoring solution and aims to integrate it responsibly across its product suite.

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