Open Banking payments platform Trustly has moved to strengthen its senior leadership with the addition of a new Chief Product Officer.
Adam D’arcy joined the company this week, filling the c-level position. He will be tasked with driving the firm’s product strategy forward amid widespread global adoption of Open Banking.
Trustly states that D’arcy will be tasked with leading several ‘upcoming product expansions’ for Open Banking payments. The firm is particularly interested in Open Banking’s growing role in US payments.
“We are thrilled to welcome Adam to the Trustly team,” said Alexandre Gonthier, Founder and CEO of Trustly, Inc.
“His extensive experience, winner instincts, and proven expertise in product-led innovation make him an ideal fit for the organisation. Adam’s vision and leadership will be instrumental as we continue to enhance our offerings to meet the demands of a growing Open Banking Payments market.”
D’arcy’s experience in payments and technology has included tenures at software developer GoTo Group as Chief Product Office and VP of Product; retail and multinational banking giant HSBC as Chief Product Officer of its PayMe segment; and most recently financial services firm Prodigy Finance, as Chief Product Officer.
His tenure at PayMe is of particular interest to his new employers at Trustly. PayMe’s emergence as Hong Kong’s largest and most successful payments app, used by over 60% of the city’s population and over 60,000 merchants, is seen as a strong success story by Trustly.
The Sweden-based international payments company will likely hope that D’arcy can replicate this success with its Open Banking products. The company has already built some strong foundations for its new CPO to work off, having secured contracts to provide its Open Banking payments tech to a range of different companies.
Perhaps the biggest indicator of Open Banking’s growth is the partnership between Trustly’s Ecospend platform and the UK’s HMRC tax office, which has seen Open Banking rise in use for tax payments among UK consumers.
More generally, the volume handled by Trustly via Open Banking payments has surged in recent years, with 79% growth in total payments volume (TPV) recorded in 2023.
“I am excited to join Trustly at such a pivotal time,” D’arcy remarked.
“Trustly’s commitment to establishing Open Banking Payments as a mainstream, high-conversion, low-cost alternative to cards aligns with my passion for creative and consumer-focused product innovation.
