European Open Banking platform Token has hired Dr Lea Maria Siering as managing director, to lead its operations in Germany.
In her new role, she will be responsible for driving Token GmbH’s growth strategy, leading its Berlin operations, and expanding its presence in the region.
According to Token, the German Open Banking market is expected to grow, with the total value of Open Banking payments forecast to reach $60 billion by 2027, up from $4 billion in 2022.
Dr Siering was previously chief risk officer at Open Banking platform provider finleap connect GmbH, and also worked as a partner at the international law firm Taylor Wessing in the regulatory and capital markets department.
For a time, she acted as chief executive officer of the 2° Investing Initiative (2DII), which is an independent, non-profit think tank that aims to align financial markets and regulations with the goals of the Paris Agreement.
“We are thrilled to have Lea lead our operations in Germany,” said Todd Clyde, chief executive officer of Token.
“Lea’s wealth of knowledge and experience, combined with her deep understanding of Open Banking and digital transformation, will be tremendous assets as she drives Token GmbH’s next phase of growth.”
Dr Siering said: “I look forward to once again serving in the role of managing director, and am excited to be rejoining an industry I am passionate about: Open Banking, and in particular, account-to-account payments.
“Not only are account-to-account payments cheaper, faster, more secure, and more reliable than cards, they are also the payment method with the lowest carbon footprint.”
She added: “In light of forthcoming PSD3 developments, I believe that Open Banking is still in its infancy, and I see great potential in the future.
“Through Open Banking, so much can and will be done better.”
Last month, Token continued its European expansion with the addition of Romania to its Open Banking network connectivity, which today spans 16 markets.