Mortgage robo-adviser MortgageGym.com has appointed a former COO of Deutsche Bank as an adviser after he invested in the company.

Henry Ritchotte, who was also a member of the management board of Deutsche Bank AG, has joined with immediate effect after putting in £500,000.

He has over 24 years’ experience in the investment banking and financial services industries and since leaving Deutsche earlier this year, has invested in early stage financial services firms with a focus on disruptive regulatory- and technology-driven business models.

“I am very excited to be joining MortgageGym ahead of its official launch this summer when it will, no doubt, revolutionise the mortgage market with the introduction of the first, digital mortgage marketplace for UK consumers,” Ritchotte said.

“I am keen to support ambitious young firms focused on transforming the delivery of financial products in a disruptive regulatory and technology environment.

“MortgageGym has been carefully designed in consultation with regulators, consumers, lenders and intermediaries to ensure that it provides mortgage applicants with peace of mind by advising them on mortgages that they can realistically afford.

“Not only will it make the application process easier for users, but it will also help those who couldn’t get a deal previously to secure a mortgage perfectly suited to their income level.”

Ritchotte previously held the role of ‘head of digital bank’ at Deutsche, which aims to deliver extraordinary customer experiences through the intelligent use of technology, data and mobile devices. He previously worked as Deutsche’s Chief Digital Officer on projects to digitalise banking services.

His other roles at Deutsche included COO, head of global markets and serving as a member of the management board and group executive committee.

John Ingram, founder and CEO of MortgageGym, said: “We are delighted to have someone of Henry’s experience on board in an advisory capacity.

“He brings a wealth of digital expertise and experience from his work at Deutsche Bank. He is hugely respected and will be a valuable addition to the company.

“MortgageGym is intent on revolutionising the mortgage market through a completely digital, whole-of-market, free and accurate application process, which is a first of its kind.

“Henry’s investment into the business confirms his confidence in MortgageGym’s ability to achieve this goal.”