Former CBA & Westpac CIO appointed to Chair Australian FinTech, Cloudfloat
Australian B2B fintech, Cloudfloat, has today announced that respected financial services veteran Bob McKinnon has joined the platform’s Board as its new Chairman. His extensive experience strengthens the board of directors, joining existing members, seasoned advisory board member and banking executive Alicia Aitken and insurance industry professional Daniel Johnson.
McKinnon was formerly one of Australia’s leading technology executives in the financial services industry having presided over technology overhauls at both Commonwealth Bank of Australia and Westpac.
During an executive career spanning more than 40 years, Bob has held a number of group executive, senior executive and board roles in finance, technology and general management across the financial services and property industries. These include, Group Executive, Technology and Chief Information Officer of both Westpac Group and Commonwealth Bank of Australia, Joint Managing Director and Chief Financial Officer of Multiplex Group, Chief General Manager and Chief Financial Officer of MLC Group, and Chief Financial Officer of Lendlease Corporation. Bob was also the independent non-Executive Chair of The New Payments Platform (NPP), a national payments infrastructure that provides innovative real-time payments solutions such as PayID and PayTo, retiring from that role earlier this year when NPP merged with BPay and eftpos.
Bob is currently a non-Executive Director and Chair (Audit & Risk Committee) at AMP Capital Funds Management and a non-Executive Director and Chair (Board Audit Committee) at Sydney Metro. He is the Co-founder and a Director of Mirin Digital, a boutique technology advisory firm he started almost a decade ago.
“Joining Cloudfloat was an easy decision for me”, said Bob McKinnon, Chairman of Cloudfloat.
“Small businesses are the engine room of the Australian economy and are critical to our nation’s prosperity, but for too long their working capital needs have been under serviced by the banking industry.”
“Cloudfloat understands this gap in the market and has developed an innovative business model and customer focussed servicing platform that helps small businesses easily access the working capital assistance they need to thrive.”
Cloudfloat serves an underserved part of the community, providing small to medium enterprises (SMEs) easy to access hassle-free cash flow at the time of paying for any business transaction. The Cloudfloat platform allows its customers to pay for goods and services on time, every time, instead of delaying the payment. The customer can then make fortnightly repayments with up to 90 day terms.
Suppliers can offer their business customers flexible payment terms without any risk, solving cash flow challenges and allowing businesses to grow.
Founder and CEO of Cloudfloat, Aleem Habibullah, has 20 years of experience in banking and finance, specialising in business lending and transactions, and he welcomes the wealth of knowledge and experience Bob McKnnon will bring to the team saying, “Bob’s experience in
banking technology is unrivalled. He’s one of the most respected leaders in financial services, known for being a straight-talker and executing major technology restructures. He’s a huge coup for our team and we’re excited to dig into that depth of knowledge.”
