Tide, the leading digital business banking platform*, has today announced the appointment of Guy Duncan as Chief Technology Officer.
Guy joins the Tide Executive Team from BMW Group, where he was Chief Technology Officer for the Group’s Connected Company. Prior to this, Guy was Chief Technology Officer at PayU / Naspers and at BWIN.
Guy’s appointment bolsters the already strong and experienced Executive Team at Tide of Oliver Prill, Chief Executive, Laurence Krieger, Chief Operations and Product Officer and Ian Sutherland, Chief Financial Officer.
Guy will help Tide to continue to build products that help small business owners save time and money. Technology is critical to Tide’s plans to grow its market share. In August 2019, Tide surpassed 100,000 members and increased its market share to 1.75%, with a plan to reach at least 8% in 2023.
Guy brings experience of building secure platforms that are reliable, scalable and able to handle high volumes. Having worked internationally, where platforms serve multiple markets under one code base, Guy’s appointment will help support Tide’s plans for international expansion.
Guy Duncan, CTO, Tide said: “Tide is an exciting company and I am very proud to be joining the team. I see the digitisation of banking as still in its infancy. There is a huge opportunity to further unpack banking services, making them available in a truly digitally native context. Many small businesses still only have access to basic banking services which Tide can change.
“Our key focus for Tide will be applying clever technology, such as machine learning, to the platform. This can help remove the pain points for customers of banking and admin for small businesses in a scalable manner. My vision is for Tide to be a global fintech leader with a developer-centric environment.”
Oliver Prill, CEO, Tide said: “Guy will bring a huge amount of passion, energy and experience to Tide. He knows the fintech sector, having spent a number of years as CTO of PayU, being closely involved in the credit and remittances aspect of the business, as well as managing international operations. His experience at BMW’s Connected Company means he has worked with top-tier technology, specifically cloud-based infrastructure and Machine Learning, and has successfully managed large teams in an Agile manner. We’re very much looking forward to what he will bring to Tide.”
This appointment follows a series of exciting announcements from Tide, including raising £44.1m in the first closing of Series B fundraising, launching Tide Plus, an upgraded account giving members additional support for running their businesses, and the creation of Tide Capital, a subsidiary company allowing Tide to offer its own credit products to members for the first time.