Retail finance technology provider Deko has appointed a new CEO to develop and deliver the company's ambitious growth strategy and help it expand into new markets.
Peter Mansfield joins from Callcredit, where he was managing director, and has also held leadership and advisory roles at Zoek and Sagacity. He brings with him over 15 years' experience of shaping strategy, growing businesses and working with a variety of fintech organisations.
Outgoing CEO Scott Law, who founded the business – previously known as Pay4Later – had been in the role for nine years and will now become a non-executive director and remain a shareholder in the business.
The appointment comes as the company celebrates £500 million of accumulative lending so far through its platform.
Peter said: "I am delighted to be joining Deko at this exciting time. It's an incredible company which has already achieved so much and I look forward to leading the business towards achieving its ambitions. In my experience of Deko so far, I have been struck by the positive culture and commitment of the team, who are totally focused on the customer. I see incredible growth potential which, with our industry-leading technology, we're perfectly placed to capitalise on."
With Deko's unique technology, retailers are able to help customers spread the cost of their purchases in the easiest and most effective way, while improving sales conversion and increasing average order values. Clients include Samsung, Machine Mart and MYA Cosmetic Surgery.
Having already achieved a number of industry-firsts – including rent deposit financing, digital credit origination for instalment loans and credit cards, and the ability to cascade loan applications to multiple lenders in seconds – the company now plans to enhance its technological proposition, attract more lenders and expand into untouched retail sectors.
Peter added: "Deko has been at the forefront of innovation in retail finance for almost a decade. A customer-centric approach and a passion for conversion mean we really do have the edge and can deliver a tangible commercial return to retailers, while providing their end users with the best possible customer experience."