Peter Oakes, the former Director of Enforcement at the Central Bank, has joined TransferMate Global Payments as non-executive director.
TransferMate is a currency settlement network and a payment engine for businesses worldwide to send and receive foreign currency payments.
Oakes has held senior regulatory supervision roles in Australia, Britain, Ireland and Middle East and senior executive positions in payments and investment services.
He said: “By successfully securing regulatory approval across the globe, TransferMate has effectively achieved what no other Irish company (and fewer than four others in the world) have done.
"I am very pleased and excited to have the opportunity to join the board.”
At the Central Bank post-financial crisis, Oakes was a member of the senior leadership team.
He served on senior management, policy and supervisory risk committees.
He introduced the Central Bank’s beefed-up investigation and enforcement powers.
Sinead Fitzmaurice of TransferMate said, “I look forward to working with [Peter] and the rest of the board as we continue to establish TransferMate as the trusted choice for international businesses seeking to send and receive funds internationally via a truly sophisticated international payments system.”
TransferMate has a 35,000-strong client base and says its mission is to connect businesses worldwide by sending and receiving international payments and disconnecting the fee-levying banks in the middle.