Date: October 28th 2019
Moroku secures Australian Big 4 Bank, technology executive, Jason Millett, to its board along with Richard Wong, to gain actionable insight into where the incumbent banks are thinking and executing amidst the disruption in economic, regulatory and technology models .
Moroku secures Big 4 Tech Exec in board restructure
FOR IMMEDIATE RELEASE October 28th 2019
In a move aimed at gaining deeper actionable knowledge of how the large and neo banks are addressing the key transformations in retail banking, Moroku has restructured its board
Following a vote from Shareholders at the company’s AGM on Friday, Jason Millett joins after holding numerous technology, leadership and consulting roles at ANZ, CBA, BoQ, Westpac where he was CIO of Westpac NZ as well as Divisional CIO for Product and Operations where he worked alongside Peter Clare to lead the merger with St George. It was during this role that Jason first met Moroku CEO, Colin Weir, who was leading Microsoft’s involvement in 3 of the bank’s 7 strategic investment programs : Internet Banking, Desktop and Back Office unification
Commenting on the appointment, Jason Millett said “Colin’s work at Westpac demonstrated a great grasp for building vision, strategy, teams and then executing. His work at Moroku continues this theme where there is a massive opportunity , through the Moroku GameSystem, to help incumbent and challenger banks identify and deliver sustainable competitive strategies. I like the cut of his jib.”
Jason joins the board alongside Colin as Chairman and CEO, and Richard Wong, whose day job is looking after partner engagements at neo Volt Bank who are due to launch their banking services in November.
Following up Richard said “It’s an exciting time in banking globally with much at stake and the outcomes uncertain, particularly how the incumbent challenger reshuffle will play out, how much diversity and innovation plays out when and ultimately how the customer will benefit. I met Colin whilst whilst working at NAB and in the mutual space where I saw Moroku’s ChoreScout mobile banking platform for families. There is a ton of potential in niche markets as banks seek to provide and extract additional sources of value. Moroku is doing this and generating revenue, something much of the FinTech ecosystem is struggling to achieve”
Moroku is disrupting banking through the power of game design to build new digital platforms for clients globally who want to acquire, engage and retain customers. It provides a gamification platform called GameSystem on which banks can create apps such as ChoreScout, an out-of-box app which allows kids to save money by doing tasks set by their parents.