XYB announces Derek Joyce as new CEO ahead of Monese split
Coreless banking Platform-as-a-Service (PaaS) provider XYB has named former Alloy COO Derek Joyce as its new CEO, just less than a month after first revealing its intended split from parent company Monese.
Derek Joyce joins XYB as new CEO (Image: LinkedIn)
Leveraging over 20 years of fintech leadership experience for the likes of Bread Financial, Klarna and American Express, Joyce will now “spearhead XYB’s growth ambitions as it embarks on its mission to accelerate the world’s transition to accessible and innovative banking”, according to a company statement.
The company says he previously filled the “pivotal role” of advising XYB’s fundraising efforts and its separation from Monese, announced earlier this month. Now, he is set to become a co-founder of the standalone business alongside Monese CTO, Jonas Kiiver.
“Now, as an independent PaaS company, we are ready to charge forward with enormous potential,” says Joyce.
First established by the banking services provider in May 2023, XYB operates “dependency-free” engines and a cloud-based microservices infrastructure that enables banks and non-banks to provide 172 possible retail and business-specific services through its partner network.
Aside from facilitating solutions for its soon-to-be-ex parent company, the business claims to also power the services of “multiple Tier 1 banks”, including HSBC’s Zing, while maintaining partnerships with “several global cloud providers”, through which it plans to “enhance its platform with deeper investment into AI”.
“Previously using AI models in its transaction monitoring solution, XYB is now threading it responsibly through its product suite, aiming to help banks recognise the benefit in a controlled and risk-free way,” its latest statement reads.
