Pockit is enhancing its leadership team with the appointment of ex-Mastercard CEO Gene Lockhart as it focuses on growth.
- Lockhart brings extensive expertise from his leadership roles at major financial institutions to Pockit’s board.
- Pockit’s strategy centres on serving ‘unbanked’ individuals, aiming to become their primary financial services provider.
- Alongside Lockhart, Malcolm Le May also joins, reinforcing Pockit’s governance and strategic direction.
- The acquisition of Monese marks a significant expansion, adding three million users to Pockit’s platform.
Pockit has announced a strategic move by appointing Gene Lockhart, the former president and CEO of Mastercard International, to its board of directors. This decision aligns with Pockit’s ambition to expand its services and solidify its position as a key player in providing financial services to the ‘unbanked’—individuals who lack access to traditional banking services.
Lockhart’s impressive career includes leadership roles at Bank of America and Midland Bank, providing him with a wealth of experience and insight into the financial sector. His involvement with prominent global fintech companies further underscores his capability to drive Pockit’s growth strategy. Lockhart expressed his enthusiasm for joining the company, recognising its potential for further expansion.
In parallel with Lockhart’s appointment, Pockit has welcomed Malcolm Le May to its board. Le May, previously CEO and executive chairman of Vanquis Banking Group, brings additional leadership and expertise to Pockit’s governance framework. He highlighted the importance of Pockit’s mission to offer essential financial products to those at risk of financial exclusion.
A pivotal development for Pockit is its recent acquisition of Monese. This acquisition, following a debt arrangement established in September, provides Pockit with access to Monese’s substantial user base of approximately three million people. This strategic takeover is seen as transformative for Pockit, significantly enhancing its scale and opening up new avenues for growth.
Virraj Jatania, Pockit’s founder and CEO, described the Monese acquisition as a ‘game-changer’, indicative of a timely opportunity to enhance corporate governance. The addition of Gene Lockhart and Malcolm Le May to the board is positioned as a crucial step in strengthening Pockit’s strategic direction and leadership capabilities.
These developments signify a progressive phase for Pockit, underlined by strategic acquisitions and leadership enhancements.
