Synch Payments appoints Tim Fitzpatrick as Chairperson

Fitzpatrick’s previous experience includes senior executive roles in HSBC Bank as well as CEO of CHAPS
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(L-R) Inez Cooper and Tim Fitzpatrick, Synch Payments. Picture Maxwells Dublin

10 August 2022

Synch Payments, the Irish instant mobile account to account payments service, has announced the appointment of Tim Fitzpatrick as Chair of the Synch Payments DAC Board.

A seasoned payments leader, Fitzpatrick’s previous experience includes senior executive roles in HSBC Bank as well as CEO of CHAPS, one of the largest high-value payment systems in the world and non-executive director and Chair of the Audit Committee at Pay.Uk, which runs the UK’s retail payments operations. In a payments capacity he has also been a senior advisor to the Bank of England.

Fitzpatrick is currently a senior non-executive director, Chair of Audit and Remuneration Committees and one of the founding directors at Oxbury Bank Plc a new fintech bank serving the British agricultural industry. He has recently been appointed to the Board and Chair of the Audit and Risk Committee at Elexon Limited, which supports critical national infrastructure and payment settlement in the UK electricity industry.

During his 25-year career at HSBC Bank, Fitzpatrick held leadership roles including global transaction banking COO providing oversight across global payments operations, risk and IT as well as regional head of payments and global head and cash management for Europe, covering 21 countries.

As CEO at CHAPS Clearing Company Limited, Fitzpatrick was responsible for the systemic oversight of the UK high value payments system processing c.£375 billion per day where he led the development of a refocused strategic vision and business transformation, including the re-engineering of risk management and systemic assurance. His role included significant engagement with Regulators and major Financial Institutions at senior level.

Fitzpatrick’s appointment is the latest in a series of positive announcements for Synch Payments which recently entered into an agreement with European PayTech leader Nexi as its mobile payments platform and service provider to enable the company to bring the Synch proposition to Irish customers and merchants. This agreement follows the company securing clearance to trade from the Competition and Consumer Protection Commission (CCPC) in June of this year.

“I am very pleased to welcome Tim as Chair of the Synch Payments DAC Board,” said Inez Cooper, managing director of Synch Payments. “A highly regarded figure within the fintech and payments landscape, Tim’s appointment comes at an exciting and critical juncture for Synch as we continue to focus our attention in the weeks and months ahead on preparing to launch.”

Commenting on his appointment, Fitzpatrick said: “This is a very interesting time for Synch as it looks to launch an industry wide mobile instant payment service, revolutionising the mobile payments sector in Ireland and delivering greater efficiencies for consumers and businesses.”

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