Chetwood in the Spotlight: Andy Mielczarek on how Chetwood Financial is making banking better
In this month’s FinTech Magazine, Andy Mielczarek, CEO and Founder of Chetwood Financial, reflects on the challenger bank’s previous year.
Chetwood, which obtained its banking licence in 2018, was borne out of the desire to break the traditional financial services mould. Andy says: “I co-founded Chetwood after a career in big banks, where I identified flaws in the current retail banking model and felt frustrated by the lack of fairness and innovation. I partnered with Mark Jenkinson, who has 25 years of financial services technology experience under his belt, to address these market shortcomings.”
Andy tells FinTech Magazine about the bank’s mission to use technology to make people better off, focusing on its dynamic loan, LiveLend, which uses technology to reward customers’ responsible financial behaviour. Chetwood also recently launched a savings product, SmartSave, which is designed to offer a simple way to save through an online fixed term account that is clear about when the terms are ending.
Looking ahead, Andy predicts a bright year for Chetwood with plenty more innovation on the horizon. However, amassing big numbers of customers isn’t the company’s ambition. “For now, our only aspiration is to make the industry better serve consumers.” Andy asserts. “We’re not obsessed with building customers that we can cross-sell to – we’re operating a completely different model.”
Read the full interview.