Open banking fintech Trustly cuts 200 jobs globally. The company is cutting around a quarter of its global workforce after a 16.8% revenue drop widened net losses in 2025, even as it eyes further US expansion with a new CTO. Tyler Pathe, Senior Reporter, FinTech Futures September 29, 2026 Trustly, the Stockholm-headquartered Pay by Bank technology provider, is downsizing its workforce with plans to cut around 200 roles from the organisation globally amid continued bottom line losses. A company spokesperson confirmed the move to FinTech Futures: "These changes are about sharpening our focus and concentrating investment behind the priorities that will help us lead the rapidly growing open banking market." Founded in 2008, Trustly currently uses open banking to allow customers to authorise payments to online merchants directly from their bank account. Clients include BNY Mellon, Alibaba, PayPal, and Wise. According to LinkedIn, the company has a workforce of 865 people, meaning that this latest wave of job cuts will affect around a quarter of the business. Local media outlet BreakIt reports 205 jobs lost, citing internal communications from CEO Johan Tjärnberg. "We understand the impact this will have on those whose roles are affected, and we're supporting every employee throughout the process," the company statement to FinTech Futures continued. According to the group's annual report for the financial year ending 31 December 2025, Trustly's consolidated net loss widened by 33.2% to SEK 534.3 million ($54.4 million), up from a loss of SEK 401 million ($37.9 million) in 2024. Operating profit (EBIT) also swung into the red, posting a loss of SEK 102 million ($10.4 million) compared to a profit of SEK 195.6 million ($18.5 million) the previous year. The group attributed the deeper deficit to a 16.8% drop in annual revenue to SEK 2,427.7 million ($247 million). The report states that this was driven by "protracted negotiations with two large merchants at the end of 2024", though both contracts have since been recovered. In April this year, Trustly appointed group chief technology officer Randy Kern, formerly of card issuing platform Marqeta, who is now leveraging his career experience in the US to expand the company into new markets. Current Trustly backers supporting this expansion include majority shareholder Nordic Capital, alongside BlackRock and Neuberger Berman, among others. Senior Reporter, FinTech Futures Tyler Pathe is a financial reporter, moderator and investigator with a specific interest in financial technology, banking and the financial industry's latest innovations.

Marqeta appoints Eugenia Gibbons as Chief Product Officer. * August 26, 2026 Marqeta, Inc. has officially appointed fintech executive Eugenia Gibbons as the company's new Chief Product Officer, effective August 31, 2026. Gibbons will oversee the organization's entire global product division in this key executive role. She will lead design, market execution, and overall growth strategy for tools within the payment platform. The hire of a seasoned Chief Product Officer shows the company's dedication to scaling modern card issuance capabilities. Gibbons also has extensive experience in building high-growth corporate solutions in digital banking, commercial lending, and modern payments. During her career, she has led cross-functional teams in software engineering, risk assessment, digital design, and day-to-day business operations. Before accepting the position of Chief Product Officer at Marqeta, Gibbons managed the Consumer Money Business at Intuit. Earlier, she served as Senior Vice President and Consumer Banking Business Unit Leader at SoFi Technologies. Additionally, Gibbons held global executive positions at BBVA, Bank of America, Liberty Mutual Group, Hexacta, and Accenture. "Eugenia's combination of product leadership, financial services expertise, technical understanding, and operating experience make her the ideal leader to build on our momentum and propel Marqeta's solutions into their next chapter," said Mike Milotich, CEO of Marqeta. "She has a proven track record of building and scaling enterprise businesses, and we look forward to welcoming her to the team. Her leadership will be instrumental in further advancing our product strategy and delivering the capabilities that enable our customers' success." "Marqeta has built a differentiated platform at the center of modern payments innovation, and I'm thrilled to join this talented team at such an exciting time in the company's journey," said Gibbons. "I look forward to working closely with our customers, partners, and teams across the company to deepen Marqeta's impact across the industry." Advancing global card issuing platforms and digital payments. Stepping into her responsibilities as Chief Product Officer, Gibbons will refine Marqeta's card processing architecture. The enterprise platform provides businesses with complete control over credit, debit, and prepaid credential issuance. Moreover, the hiring of a dedicated Chief Product Officer aids Marqeta in further corporate partner integration. The company has specialized fintech tools that enable commercial enterprises to quickly deploy flexible payment programs. Marqeta's modern platform infrastructure makes the complicated transaction authorization processes easier. This results in real-time spending controls and dynamic web application integration for commercial customers. In addition, the new Chief Product Officer will be focused on driving software delivery faster across both the consumer and commercial markets. Gibbons will link engineering goals straight to changing merchant requirements. This leadership change further highlights Marqeta's commitment to leading the future of digital payments. Marqeta is adding a veteran chief product officer as it builds out its cloud infrastructure to grab more market share across global financial sectors. For more stories on technology leaders shaping the future of enterprise solutions, visit its CXO Insiders.