Synch Payments, the Irish instant mobile account to account payments service, has appointed Tim Fitzpatrick as Chair of the Synch Payments Board.
The Synch platform is a joint venture by AIB, Bank of Ireland, Permanent TSB and KBC Bank Ireland and will allow instant person-to-person payments.
It will also facilitate instant person-to-business payments for online shopping through websites, or in store through the use of QR codes.
In June, it was given the green light by the Competition and Consumer Protection Commission (CCPC) subject to certain binding commitments being met.
Tim Fitzpatrick's previous experience includes senior roles in HSBC Bank as well as CEO of CHAPS, one of the largest high-value payment systems in the world and non-executive director and Chair of the Audit Committee at Pay.Uk, which runs the UK's retail payments operations.
Mr Fitzpatrick has also been a senior advisor to the Bank of England.
He is currently a senior non-executive director, Chair of Audit and Remuneration Committees and one of the founding directors at Oxbury Bank, a new fintech bank serving the British agricultural industry.
He has recently been appointed to the Board and Chair of the Audit and Risk Committee at Elexon Limited, which supports critical national infrastructure and payment settlement in the UK electricity industry.
"This is a very interesting time for Synch as it looks to launch an industry wide mobile instant payment service, revolutionising the mobile payments sector in Ireland and delivering greater efficiencies for consumers and businesses," Mr Fitzpatrick said.
"By leveraging my many years of experience within the payments industry, I look forward to bringing my insights and experience to the table and working with my fellow board members and the senior management team as we steer Synch through this next exciting phase for the company," he added.
Inez Cooper, Managing Director of Synch Payments, said that as a highly regarded figure within the fintech and payments landscape, Tim's appointment comes at an exciting and critical juncture for Synch as it continues to focus its attention in the weeks and months ahead on preparing to launch.
