The Bank of London announced the appointment of Frankie Woodhead as Chief Product Officer, effective immediately.
In his role, Frankie will “oversee product vision, development and delivery across the UK Bank and Group.”
Frankie joins the bank “with 15 years of senior leadership experience across business, corporate and retail banking in global tier one financial services at Barclays and cloud-native digital banking technology provider 10x Banking.”
His roles at Barclays included product director positions “spanning SME lending, growth, authentication, payments and customer servicing.” He joins The Bank of London from 10x, where he “was a Vice President and General Manager.”
Anthony Watson CBE, Group Chief Executive and Founder of The Bank of London, said:
“The Bank of London’s vision is to change the face of banking by making it safer for its clients.”
Frankie commented:
“I’m honored to take on this role at such a key time for the industry and the growing bank. Having seen the direct client and customer impact of financial crises, it’s clear the world of banking needs to be fundamentally changed to be safer and more transparent.”
He added:
“Not lending, investing or leveraging any deposits makes The Bank of London a safer home by design for client and customer money. The bank has a bold vision and a product roadmap to completely change the banking landscape. I look forward to working with the team in delivering it.”
As covered, The Bank of London is “a principal clearing bank of the United Kingdom and the only mass-commercial sovereign-system reserve bank in the world.”
The bank says that it “prioritizes the preservation of depositor’s money and market stability over credit risk or chasing high returns.”
As a mass-commercial sovereign-system reserve bank, The Bank of London does “not generate credit, liquidity, or investment risk.”
No depositors’ money is “ever loaned, leveraged, or invested.”
All depositor’s money is held “in full and unencumbered at the Central Bank (Bank of England). 100% of depositor’s money is liquid and available upon demand, in-full, en masse.”
The bank provides business banking solutions for all company and organisation types across most industries, offering:
- Agency, clearing, payment and settlement solutions for regulated and non-regulated domestic and international companies;
- Commercial Banking, serving small and medium businesses as well as corporate, government and institutional clients with an array of account, custody, foreign exchange, transaction, and treasury solutions;
- Embedded Banking (As-A-Service), enabling companies to fully embed regulated banking products into their own customer offerings, under their own brand and powered by the bank’s licence and platform.