ThinCats appoints Aldermore Bank IT head as new CTO

ThinCats has appointed Aldermore Bank’s head of IT Billy Ferguson as its new chief technology officer.

Ferguson, who has already started at ThinCats, previously worked at Aldermore Bank for six years, where he held several roles including head of architecture, and latterly head of IT.

He has also worked at Allianz Insurance, where his last role was head of architecture and emerging technologies, and Prudential, where he held the title of programme manager.

In his role at ThinCats, Ferguson will head up its technology department.

According to LinkedIn, Steve O’Neil held the role of CTO at ThinCats until August last year.

Ferguson said: “Providing the necessary technology infrastructure is a key element of our strategy to deliver increased volumes of funding to mid-sized SMEs over the next few years. 

“Our continuing investment in technology will ensure we deliver market leading levels of service to our clients.”

Amany Attia, CEO, ThinCats, said: “Investment in technology is critical to enabling us to scale as more businesses use our funding services. 

“Billy and his team have a pivotal role to play in the future growth of ThinCats and how we service our clients.”

Earlier this year, ThinCats announced it had appointed former founding CEO of the British Business Bank Keith Morgan as its new chair.

Last month, ThinCats announced an extension of its existing funding partnership with Insight Investment, worth an extra £100m.

It builds upon the funding relationship between Insight and ThinCats that began back in 2018, when the asset manager signed a £300m funding deal with ThinCats.

The alternative lender says it lent a record £318m to SMEs last year, a nine per cent uplift on the previous year.

ThinCats, which provides leading of between £1m and £15m to SMEs, said the record lending was provided to existing and new borrowers.