Retail finance technology provider Deko has appointed a new CTO to accelerate the development of its platform, deliver continual product innovation and harness the imminent launch of major new partnerships.
Mufti Monim joins from Lebara Money, where as head of technology he set up an international money transfer platform in the UK, achieving £100 million worth of transfers within the first 12 months. Mufti was brought into Lebara Money to build and run the platform, having worked in various roles at Lebara Mobile for five years, including head of digital technology.
Working alongside Deko’s CEO, Peter Mansfield, CFO, Richard Harrison, and sales director, Kaye Rickards, Mufti will use his expertise in modern product development, agile methodology and DevOps processes to steer the business towards further growth. He will be integral to the business’ continued success, which will be propelled by a number of strategic partnerships to be announced before the end of the year.
Mufti said: “Deko’s position in the market means it has the agility to adapt its product according to – and ahead of – industry advances, while having the scale to see these developments through quickly, which is the ideal scenario for me.
“In my previous role at Lebara Money, I was able to build up a successful product, platform and team from scratch, and I look forward to applying the skills gained there to the retail finance space and ensuring Deko remains at the cutting edge of technology.”
Deko’s innovative technology and multi-lender platform helps customers easily and effectively spread the cost of purchases, allowing merchants to improve sales conversion and increase average order values. The company is working with merchants from a wide range of sectors to challenge traditional consumer credit models and disrupt the finance marketplace.
Mufti joins Deko as the business celebrates the processing of two million applications, with a gross loan volume approaching £2 billion.
Peter Mansfield, CEO at Deko, said: “Mufti is joining at a really exciting time for the business as we enter new markets and take the technology into previously unexplored territory.
“Mufti has proven himself as an accomplished and forward-thinking technologist and, along with his strong experience of working in FCA-regulated environments, I’m confident that he can propel our technological offering even further. Such investment in maximising the value for our merchants, lenders and end customers will ensure we retain our position as the best retail finance provider on the market.”