Current CEO of Tesco Bank and group strategy director of Tesco Benny Higgins will join Kyckr’s board of directors as non-executive chair effective 1 March 2018.

Higgins brings over 30 years of experience in financial services and global banking to the board and deep expertise growing businesses to significant scale.

He will be instrumental in driving the regulatory tech company’s expansion plans in Europe and the USA.

As of 1 March 2018 John Van Der Wielen will step down as chair and remain on the board as non-executive director.

Under Higgins’ leadership Tesco Bank has grown from humble beginnings to become a major competitor in the banking space in the UK.

Higgins said: “I was attracted to the strong commercial potential of Kyckr’s offering and its relevance to the financial services industry.

“I believe as chair, my experience will help guide the company in a successful European and US expansion to support the growing needs of customers, and I’m excited to be a part of the ongoing success of the company.”

After Higgins steps into the role as chair on 1 March 2018 Kyckr’s current Chair, John Van Der Wielen, who personally recruited him into the role, will remain on the Board as an independent non-executive director.

Van Der Wielen said: “This is a global coup for Kyckr, with the appointment of a deeply experienced global banker and entrepreneur, who has an outstanding reputation within the global banking sector.

“Benny will provide invaluable guidance to our board and management team, as we pursue our strategic expansion plans in Europe and the US.

“His significant experience in growing businesses to scale, focus on customer engagement, and deep knowledge of the global banking sector will be a significant advantage to Kyckr and make a real difference to our team.

“I am more than happy to pass the torch to such a well-respected individual and remain on the board and committed to the long-term success of Kyckr.”

Higgins will be offered options subject to shareholder approval and, following a review, the board will be streamlined effective 1 January 2018 with Patrick Curry, John Walsh and David Cassidy to step down as directors of the company.

The refreshed board will comprise two key Australia-based non-executive directors, John Van Der Wielen and Albert Wong, founding directors Benjamin Cronin and Robert Leslie in Ireland and Higgins who will be based in London. David Cassidy will remain CEO of Kyckr.

John Van Der Wielen said: “On behalf of the board, I would like to thank Patrick Curry and John Walsh for their tremendous contribution to Kyckr’s board and wish them every success in their future endeavours.

“David Cassidy will remain CEO of Kyckr and we are grateful to him for the contribution he has made as our managing director.”