TrueLayer hires Basil Bailey as CEO of Ireland, head of EU operations

UK-based Pay by Bank network TrueLayer has appointed Basil Bailey in the dual role of chief executive officer of TrueLayer Ireland and general manager of its European business, as it eyes further growth in those markets.

In his new dual role, Bailey will oversee the commercial and regulatory functions of TrueLayer Ireland, which holds a European Payment Institution license and is regulated by the Central Bank of Ireland, as well as managing TrueLayer’s European operations.

He has also been named as an executive director of the board of TrueLayer Ireland.

Basil Bailey, chief executive officer, TrueLayer Ireland

Bailey previously served as managing director of JPMorgan’s acquiring business in EMEA and was chief executive officer of the company’s two European acquiring and issuing entities.

He held senior roles at Fiserv and PayPal, where he was global director of financial services at the latter, and at Borderfree as director of global consumer and commercial payments.

Prior to this, Bailey was the chief commercial officer at Orbiscom, which was subsequently acquired by MasterCard, where he worked for several years.

Francesco Simoneschi, co-founder and chief executive officer of TrueLayer, said: “I’m thrilled to have Basil joining the TrueLayer team to lead our EU-regulated entity from Dublin.

“Ireland and Europe are major growth markets for TrueLayer, and Basil’s strong leadership and deep payment experience will be crucial as we enter our next phase of growth and continue to revolutionise the payments industry.”

TrueLayer is one of Europe’s largest Pay by Bank providers, with more than 10 million users and having processed more than $64 billion in payments, to date.

In the UK, TrueLayer processes nearly half of all Open Banking payments.

Bailey added: “I’m very excited to join TrueLayer at such a pivotal point in its journey. With more and more major merchants starting to offer TrueLayer’s Pay by Bank option to their customers, TrueLayer is truly changing how the world pays.

“I look forward to bringing my payment experience to the table and being a part of the TrueLayer team for this revolutionary journey.”

Earlier this year, payments orchestration platform BR-DGE partnered with TrueLayer to add Pay by Bank to its suite of payment options for enterprise businesses.