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docStribute appoints ex-Group CIO of Newcastle Building Society as Non-Executive Director
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Global Banking & Finance Review®
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London-based RegTech company, docStribute, today announces the appointment of Manila McLean to the board of the Company as an independent Non-Executive Director with effect from 15 April 2024.
With over 20 years’ experience in financial services, McLean was most recently Group Chief Information Officer at Newcastle Building Society. She joined the largest building society in the North East as its Digital Director before being appointed CIO in 2020. Before that she was Head of Digital at Tesco Bank.
Commenting on the announcement, docStribute Chair, Phil Shelley, said:
“I am delighted to welcome Manila to the board. She brings a wealth of experience in digitising the financial services sector. Her experience in driving excellent customer service by delivering a digital experience that customers enjoy engaging with is incredibly relevant to docStribute’s ambition to do the same.
“She joins us just as we have won our third building society customer, are deploying our technology for a Tier One bank, and as Consumer Duty increasingly requires financial services firms to proactively seek high levels of engagement with their customers on their regulated communications.
“Manila’s understanding of our clients’ priorities will help us to continue to develop our technology in a way that helps them negotiate the changes the Consumer Duty regulation requires. The Board and I are very much looking forward to working with her.”
Manila McLean commented:
“I am really pleased to be joining docStribute at this exciting time in its development. The team has done a great job in developing a customer solution that provides an answer to the combined regulatory challenges of Durable Medium and Consumer Duty.
“The ability to measure customer engagement with important regulatory documents allows financial institutions, both large and small, to ensure they are doing all they can to help their customers understand these communications. I very much look forward to working with the team as they continue to develop their technology and as they seek to help more financial services companies meet their Consumer Duty requirements.”
Earlier in the year, docStribute announced a seed funding of £820k to be used for technology development and marketing to accelerate the growth of the business.The company has now raised over £1.7m to date.
A Non-Executive Director is a member of a company's board who does not engage in the day-to-day management but provides oversight and guidance based on their expertise.
RegTech, or regulatory technology, refers to the use of technology to help companies comply with regulations efficiently and effectively, particularly in the financial sector.
Consumer Duty is a regulatory requirement that mandates financial services firms to prioritize customer engagement and ensure that their products and services meet consumer needs.
A building society is a financial institution that provides banking and related services, primarily focused on savings and mortgage lending, and is owned by its members.
Seed funding is the initial capital used to start a business, typically provided by angel investors or venture capitalists, to support early-stage development.
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