118 118 Money appoint former Telenor CEO Chaudhry

118 118 Money appoint former Telenor CEO Chaudhry

The Cardiff-based financial services provider has announced the appointment of a new chief executive officer to spur the company forward.

Ali Riaz Chaudhry, former CEO of Pakistan-based Telenor Microfinance Bank, will join the company as its new chief executive officer, starting today (September 11, 2017).

Chaudhry will be responsible for the strategy, growth and daily operations of the business.

The appointment of Chaudhry, a leader in the industry who is known for building customer-focused propositions, embodies the direction that 118 118 Money wishes to take with regards to providing its customers with a choice of financial options.

Robert Pines, CEO of 118 118 Money’s parent company kgb, said, “Our mission has always been to provide affordable financial solutions for consumers with less than perfect credit. 

“As a brand, we pride ourselves on helping consumers better understand and embrace good financial habits, in addition to giving them products and tools to help build their credit score.

“To further this mission, I’m pleased to announce that Ali Riaz Chaudhry will join 118 118 Money as our new Chief Executive Officer, effective September 11, 2017.”

After a decade of the 118 118 directory service brand, 118 118 Money was founded in 2013 to provide unsecured personal loans of up to £5,000 repayable over one to two years.

The 118 118 Money brand was launched to fill the gap between the banks and the payday lenders and offer customers with less than perfect credit ratings a better option.

Now, four years later, it has helped over 100,000 UK customers and gained a 96% positive Feefo approval rating.

Chaudhry himself has over 20 years of experience within the Financial Services industry across Asia, Africa, Europe and the Middle East.

Prior to joining 118 118 Money, he served as President and CEO of Telenor Micro Finance Bank, the largest microfinance and mobile money business in Pakistan.

On the subject of his appointment, Chaudhry commented: "I am excited to be joining the team at 118 118 Money. 118 118 is a powerful customer centric brand in the UK which carries a unique position in the world of digital/mobile financial services.

“I am honoured and humbled to have an opportunity to join a winning team and shall endeavour to continue the journey of delivering the 118 118 Money promise.”