Demica appoints chief technology officer
In a strategic move to bolster its position in the trade finance sector, Demica, a leading working capital solutions provider, has appointed Daniel Kustrin as its new Chief Technology Officer (CTO). Kustrin, who previously held the role of Chief Commercial Officer (CCO), will now focus on expanding Demica's trade finance technology capabilities and market presence.
Kustrin's appointment comes at a pivotal time for Demica, as the company's proprietary platform for managing trade receivables continues to gain traction, with an increasing value and volume of trade receivables being managed. Matt Wreford, CEO of Demica, expressed his delight at Kustrin joining the team, stating that his expertise and leadership will be instrumental in accelerating Demica's growth.
Prior to joining Demica, Kustrin honed his skills in technology roles at Quant Barclays Capital and Cardano Risk Management. At Cardano, he served as the global head of technology, overseeing development and infrastructure in the UK and the Netherlands.
The appointment of Kustrin follows Demica's recent expansion into supply chain finance, a move that has been facilitated by the company's acquisition of FIS. However, no further details about this expansion or the acquisition were mentioned in the announcement.
Meanwhile, the payables finance market has seen a dip due to the impact of rising interest rates and disclosure rules on demand. While no specific details about this market shift were discussed, it is clear that Demica's robust technology and infrastructure, combined with Kustrin's leadership, will be key in providing the services that its customers need.
Kustrin's role at Demica will now focus on overseeing the growth and development of the company's proprietary platform, with the aim of developing innovative working capital solutions and broadening Demica's global footprint in the trade finance ecosystem. With Kustrin at the helm, Demica is poised to make significant strides in the trade finance sector.
Business growth is a priority for Demica, as they aim to broaden their global footprint in the trade finance ecosystem. Kustrin, in his new role as Chief Technology Officer (CTO), will use his technology expertise, previously honed at Quant Barclays Capital and Cardano Risk Management, to expand Demica's trade finance technology capabilities and market presence.
