New Zealand Buy Now Pay Later (BNPL) provider Laybuy has today announced it has appointed leading risk management expert Jamie Byles as its new Chief Risk Officer (CRO).
In this newly created position, which is part of Laybuy’s senior leadership team andbased in London, Jamie will be responsible for driving Laybuy’s risk management strategy, ensuring Laybuy is continuing to use the most effective tools available to prevent fraud, protect customers and minimise credit risk.
His appointment is part of a strong proactive approach being undertaken by Laybuy to strengthen the security of its platform following a global rise in online fraudulent activity, which is impacting e-commerce businesses around the world. This approach is already delivering results, with a marked reduction in fraudulent activity in recent months.
Jamie brings 25-years risk management experience to the business, joining Laybuy from HSBC, where he was Group Head of Fraud – Wealth & Personal Banking. Jamie has previously held roles as Risk Director at Barclays, Head of Fraud Strategy at Visa, and Head of Card Fraud Risk at NatWest Group. He was also a director of Ethoca, a Fintech specialising in intelligence and technology solutions that was acquired by MasterCard in 2019.
Additionally, Jamie was also twice elected Chairperson of the Visa Risk Working Group, appointed as a civilian advisor to UK law enforcement agencies. He has worked with government and regulators in designing and implementing the Contingent Reimbursement Model in the UK, helping reduce incidences of scams.
Gary Rohloff, co-founder and managing director of Laybuy, said: “We are delighted to welcome someone of Jamie’s unrivalled experience to Laybuy’s leadership team. Globally, there has been an increase in fraudulent activity involving companies in e-commerce and this is impacting those providing online payment services, including the BNPL sector. At Laybuy, we are taking the growing threat of attempted fraud seriously and are committed to doing all that we can to proactively reduce the incidences of fraud, minimise its impact and continuously improve the security of our payment platform. Jamie will play a critical role in helping us achieve this.”
Jamie Byles, Chief Risk Officer, Laybuy: “This is an exciting time to be joining Laybuy as we continue to accelerate our growth in New Zealand, Australia and the UK.”
