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Fexco appoints Cathal Foley as CEO of Fexco Asia

August 01, 2019

Fexco, one of the world’s leading independent financial technology providers, announces the appointment of Cathal Brendan Foley as CEO of Fexco Asia. Cathal will lead Fexco’s Asian business including EasyDebit, its mobile payments business in the Philippines. Cathal’s appointment follows Ann Chan’s (co-founder of Fexco Philippines) move to Chairperson of Fexco Philippines.

The Fexco EasyDebit solution is a microATM and Payments solution that allows customers to withdraw cash and make payments using their ATM/debit card at thousands of local accredited merchants. EasyDebit has also developed an Agency Banking solution enabling the rapid, low cost deployment of traditional banking services to underserved areas. At present, the Philippines is a country significantly underserviced by an ATM and bank branch network. EasyDebit provides safe and secure instant access to cash to the 75million BancNet cardholders, and has processed over P2 billion since it was launched in 2017.

Cathal Foley has extensive strategic business development experience in financial services across South East Asia. He has held senior management positions at large financial institutions such as HSBC and BNP Paribas in Hong Kong. Cathal’s background also includes leading a technology driven and sales focused expansion for Cantor Fitzgerald in Hong Kong.

Commenting on the appointment Karl Aherne, director of strategic business development, Fexco Group said:

“We are delighted to welcome Cathal to lead the Fexco team in Asia. Cathal brings a wealth of experience in conceptualising and executing large-scale technology-based projects in industries such as financial services and specialist insurance. This appointment signals Fexco’s commitment to delivering innovative solutions developed specifically to address the market needs in Asia.”

Cathal Brendan Foley, CEO of Fexco Asia said:

“I’m excited to lead the Fexco team in Asia, and in particular drive the growth of EasyDebit. The Philippines is a unique market perfectly placed to benefit from the growth of FinTech in South East Asia and our solutions will save customers time and money providing secure and faster access to their cash along with new card payments options. EasyDebit also offers financial institutions a cost effective, easily deployed solution for expanding existing branch networks.”

ENDS
Shane Kavanagh: Phone +353 83 422 9611, [email protected]

About Fexco
Recognised as one of the world’s original and most established fintech organisations, Fexco employs over 2,400 people across its suite of companies headquartered in Killorglin, Co. Kerry located in the South West of Ireland. Founded in 1981, Fexco now has operations in 29 countries across Europe, the Middle East, Asia-Pacific, North America and Latin America. Since inception, Fexco has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. To find out more visit www.fexco.com