By John Reynolds on Wednesday 8 April 2020
Philip Wright will work closely with Financial Controller Wendy Yang.
It marks the first time that Chip has appointed a dedicated CFO and Wright will work with Chip's Financial Controller Wendy Yang.
Wright was previously interim Financial Operations Director at Funding Circle for a short period in 2016.
He has also served as CFO at the startup Auto Service Finance and interim CFO at Babylon Health, the digital healthcare service ,as well as holding various roles at Wonga, the payday loan provider.
The appointment follows Chip, which automatically puts money aside for the customer into a Chip savings account, being granted Financial Conduct Authority (FCA) approval as an Authorised Payment Institution.
Wright said: “I’m very excited to join the team at Chip. They are doing some amazing things, and it’s brilliant to see how resilient the company is.”
“It’s an absolute pleasure to play a key role in shaping the future of Chip and helping build an app that can enable people to save for the rainy days, as well as the sunny ones.”
Rabin added: “It has been a turbulent time for everyone, but our savers’ response, and the influx of new savers, are strong indications that not only can Chip weather this storm, but it can also be a very helpful tool in other unexpected financial shocks in the future."
“As we continue to navigate these uncharted waters, I’m very happy to have Phil on board, and have his wealth of experience and expertise to help us steer this ship.”