Stockholm, Sweden, February 15, 2022 – Trustly, the leading global payments platform for digital account-to-account (“A2A”) transactions, is announcing several changes to set the company up for its next successful growth chapter. The changes include a new growth strategy, organizational structure, and regional management teams for Europe and the Americas. The growth strategy includes significant investments into further building out the market-leading A2A product in the rapidly growing North American market, and a European strategy with a strong focus on offering the best A2A product in Trustly’s core European markets.
Trustly’s Group President and CEO Johan Tjärnberg comments: “Together with my leadership team, I have set out a new three-year growth plan for the company. The plan rests on the fact that digital A2A transactions continue to gain ground over other payment methods and Trustly is uniquely positioned to continue to be a global leader in this market. As demand from North American merchants and consumers is continuing to grow rapidly, we will accelerate investments in this region to ensure we continue to develop the market’s leading A2A proposition, while we in Europe will deploy a product-focused strategy aimed at a number of core markets. We have a clear path on how to continue to win on both sides of the Atlantic and even more effectively serve our merchants.”
John McLane, CEO Americas comments: “We are market leaders in A2A in North America, our business is growing fast and we'll be adding new payment rails and new value-added services this year while also expanding in Canada. We look forward to further accelerating these investments and staying sharply focused on our merchants and consumers.”
Trustly’s growth strategy includes a new organizational setup with separate management teams for Europe and North America, putting them both in the best possible position to drive and deliver on regional opportunities. Anywhere Trustly chooses to operate, we will aim for industry leadership and offer the best digital A2A product in the market, with superior value to customers.
Simultaneously, Trustly continues to invest in its risk and compliance infrastructure with the aim of not only being the partner of choice for banks and large enterprises but also the most trusted account-to-account payments alternative for consumers and merchants.
In North America, Trustly will continue to capture hyper growth and build on its leading position in A2A payments, in particular through accelerating investment focused on product development, recruitment and expansion, and further expansion into the Canadian market.
The updated European strategy sets out a clear ambition for Trustly to continue to be the game-changing market leader in Europe by the end of 2024. To do so, Trustly is refocusing its geographical and product offerings and reducing structural complexities to better scale, capture growth opportunities and focus purely on offering the best A2A product in our core markets.
Following the setup of a new organization in which the group functions are replaced with regional, more agile and customer-centric management teams, and a refocused European product offering, there will be redundancies in Europe, primarily in Stockholm.
Trustly’s European regional management team and areas of responsibility to come into effect from March 1st are:
CEO - Johan Tjärnberg (and President and Group CEO)
Product - Sagar Achanta
Business Development - Oscar Berglund
People & Culture - Nathalie Berthelius
Finance - Håkan Fältmars
Technology - Ludvig Kolmodin
Commercial - Johan Nord
Strategy - Jonas Palmquist
Legal - Karl Samuelsson
Risk & Compliance - Rob Thacker
The North American regional management team remains intact, with John McLane as CEO Americas.
Founded in 2008, Trustly is a global leader in Online Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2020 we processed over $21 billion in transaction volume in our global network.
We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.
Meredith Popolo, Head of PR and Communications at Trustly, firstname.lastname@example.org