Kreditech, a Germany-based lender focused on the unbanked, has brought in Michal Panowicz, a digital banking veteran with spells at Nordea and Poland's mBank under his belt, as chief product and information officer.
In the newly created role, Panowicz will oversee the Kreditech product and technology departments from the firm's Hamburg headquarters.
Founded in 2012, Kreditech practices what it calls 'algorithmic banking', using big data to make credit decisions on loans for people who might be shut out by high street providers. The frim has proved popular with investors, attracting around $150 million from the likes of JC Flowers, Peter Thiel, and the Worldbank’s IFC.
Panowicz has 20-year history in financial services and technology, most recently as deputy head of digital banking at Nordea. Previously he led a massive digital transformation project at Poland's third biggest lender, mBank, which garnered numerous awards.
Says Panowicz: "I am excited to join Kreditech and am fully committed to its vision of improving financial freedom for the underbanked. Together we will build world-class engineering and a cutting-edge digital finance product for the many people that have been deprived of the benefits from the traditional financial system."