deVere Vault, a global e-money app set to change forever how people access, manage and use their money, and to disturb the traditional banking sector, was launched on 10 April.

Mr Kontrimas joins deVere Vault from Barclays with immediate effect and reports directly to Nigel Green, the deVere Group CEO.

Of his new position he says: “I’m thrilled to join at the very beginning. A key influence in my decision to join deVere is that this company, under the leadership and direction of Nigel Green, is committed to using its considerable resources to revolutionise and enhance the way we all access, manage and use money. I was also attracted to the role by the opportunity to lead a fintech company that can move faster and be more agile than the more established players.

“deVere’s determination to bring the banking sector into the 21st century and to respond to the ongoing and increasing demand of consumers is a breath of fresh air. There’s a defined and tangible desire to be market-leading entity, focused solely on providing the highest quality, low-cost service to clients.

“This is such an exciting time to be in the fintech business and with deVere at the very forefront of the revolution, there’s surely no going back. Indeed, the days of traditional banking are, I believe, now numbered.”

He continues: “While there are similar - from a technical point of view - offerings, the product and market fit for deVere Vault is unique. We are targeting the expat community and internationally mobile people and organisations.

“As well as my managerial functions, due to my software engineering background I also expect to play a role with technical aspects of our current and future products as well.

“We will be offering more currencies and are likely to introduce a premium service for deVere Vault in the near future.”

For his part, Nigel Green, deVere Group founder and CEO, observes: “The appointment of Donatas Kontrimas underscores the strength of our proposition. You do not attract leaders of the quality of Donatas, nor someone of his knowledge and expertise, unless you are demonstrating strength right from proposition through to service delivery.

“He values the trailblazing nature of our current offering, our client-first culture, and is excited about the enormous potential. We delighted to welcome him to the company.”

In a statement on the official launch day of deVere Vault, Mr Green said: “Initially, deVere Vault will provide global services in electronic money and a single card, multi currency service. Focusing on those with an international lifestyle, we will also ensure that the best currency exchange ratios are given.

“You will be able to open a deVere Vault account in around five minutes, withdraw money from any cash machine worldwide, get real-time notifications with all your transactions, spend money on the card wherever Mastercard is accepted, and send and receive money in most major currencies instantly with other deVere Vault account holders.

“And this is just the beginning. We’re confident that deVere Vault is set to revolutionise how people access, manage and use money across the world and positively disturb the wider banking sector. Banking as we have known it until now is finished.

“This is a low-cost, e-money app designed for today’s globalised world.”