UK-based ThinCats, the alternative finance provider to SMEs, has reportedly appointed Billy Ferguson to serve as the firm’s CTO.
Ferguson brings considerable professional experience within the IT industry, having previously served in key roles at Aldermore Bank, Allianz Insurance as well as Prudential.
Ferguson will reportedly be joining ThinCats from Aldermore Bank where he had been working for more than 5 years in various roles such as the Head of architecture, strategic tech transformation, and also as the Head of the IT department.
As the new CTO at ThinCats, Ferguson is expected to serve an important role in spearheading the tech division where he will be responsible for implementing innovative IT strategies.
Ferguson remarked:
“I’m delighted to be joining the ThinCats team at this exciting stage of its development. Providing the necessary technology infrastructure is a key element of our strategy to deliver increased volumes of funding to mid-sized SMEs over the next few years. Our continuing investment in technology will ensure we deliver market leading levels of service to our clients.”
Amany Attia, CEO at ThinCats, stated:
“ThinCats is growing quickly, which means we are investing in all areas of the business to match this growth. Investment in technology is critical to enabling us to scale as more businesses use our funding services. Billy and his team have a pivotal role to play in the future growth of ThinCats and how we service our clients, so I am delighted to welcome him on board.”
As covered, Thincats, a lending platform, explained that their expertise in SME lending is the product of “a detailed manual underwriting process combined with market-leading data.”
Because of their sharp focus on mid-sized SMEs, ThinCats claims that they have “continually invested in making sure [they] have the best data available to inform [their] decision making.”
The firm also mentioned that their credit risk model, called PRISM, uses several different data sources including accounts filed at Companies House. PRISM models over 2 billion data points “covering every mid-sized SME that has traded since 2007 – around 200 metrics on over 750,000 businesses across 14 years.”