But the financial services experts have dubbed it a 'non-event for the savings industry'.
Banks, he says, "set people up as particularly special, whereas the degree to which the supply of financial services experts is fixed is highly questionable.
At launch, FinLeap boasts a team of 30 — spanning entrepreneurs and financial services experts, engineers, and product managers from companies such as HitFox Group, Goldman Sachs, McKinsey, DKB and Fab.com — all of whom are currently working on the company builder's first startups.
That's why financial services experts agree that in the near future anywhere between six to eighteen months from now consumers will be able to use an ATM card to debit a bank account and pay for an online purchase in much the same way they do now at supermarkets and drugstores.
A noteworthy detail about the raise is that all advisory fees from the deal will be donated to Ugandan and Nepalese charities through Ansarada's partnership with Adara Partners, a corporate advisory firm made up of financial services experts who donate their fees to help women and children living in poverty.
He is an international financial services and technologies expert, responsible for defining new markets and opportunities for the Yodlee Platform to power innovation and change business processes.
He says his previous career in financial services has made him an expert in handling change - "I've been through 26 mergers and acquisitions" - and dealing with complex regulatory issues.
Pro: Strong eurosceptic, former Trade secretary, expert on financial services, would not go native.
Andrew Hagger, a banking expert at the financial services website Moneynet.co.uk, said: "By the time we reach the end of 2010 there will be some new names replacing some of the established financial brands in high streets across the UK".
