Zolve, a neobank providing cross-border financial services, has appointed Kin Chung to its team in the US.
Chung will be the India-based neobank’s new head of credit and risk and continues the expansion of its leadership team in the jurisdiction.
At Zolve, Chung will establish a credit rating system and develop an integrated risk management policy framework for all products.
Welcoming Chung, Raghunandan G, Zolve’s founder and chief executive officer, said: “We are delighted to welcome Kin Chung as head of credit and risk. We’re excited to learn from Kin’s experience and expertise and are looking forward to collaborating on some of the most challenging problems we’ve ever faced.”
On his appointment, Chung said: “Zolve is making finances accessible to people moving borders, which no one has tried before. I have always wanted to be a part of an innovative startup that is making people’s lives easier and creating a difference.”
Chung comes with two decades of experience in the financial services industry. He has previously held multiple roles in credit and risk at companies, including MPower, FS Card and Capital One.
This is the fourth strategic appointment at Zolve within a month, following the onboarding of Steve Freiberg from Citigroup, Anandapadmanabhan Ramabhadran from the Boston Consulting Group, and Douglas T Hamilton as chief compliance officer.
Zolve says its mission is to make financial products accessible to everyone. It offers a range of products to help simplify banking in the US, including an account that can be created anywhere in the world, a high-limit credit card for improving credit worthiness, and cross-border money transfers.
In February 2021, Zolve raised $15 million in seed funding, led by Accel and Lightspeed. In October of that year, it raised another $40 million in one of India’s largest series A funding rounds.
Image source: Zolve