Token.io Enhances Its Leadership in Europe with Two New Senior Executives

Token.io announced that it has enhanced Its Leadership in Europe adding Charles Damen as Chief Product Officer and Artashes Torosyan to the mix.

In a press release recently shared with Finance Magnates, Charles Damen, having previously served as the SVP of Product Strategy for Worldpay, and Artashes Torosyan, who brings over twenty-five years of experience in FinTech and blockchain technology, have been appointed by Token.io, an open banking payments platform, as its new Chief Product Officer (CPO) and Chief Technology Officer (CTO), respectively.

The two new appointments are intended to strengthen Token’s position in Europe. Both Damen as CPO and Torosyan as CTO will develop the company’s Account-to-Account (A2A) payment platform, which will provide best-in-class open payment and data connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term across sixteen European countries.

Charles Damen

Damen, a current member of the European Payments Council, has recently exited from Worldpay having served as Senior Vice-President of Product Strategy for global Real-Time Payments and Open Banking products. He brings in excess of two decades of experience from senior executive positions at mobile, internet and payment firms.

Prior to his time with Worldpay, he co-founded Thunes. As Managing Director, he led the global cross border payments division, enabling real-time payments to and from emerging markets. Additionally, he held a seat on the Board of the Merchant Risk Council.

Damen stated: “Open banking is a huge opportunity for the financial services industry, enabling the development of innovative payments and data services offering customers secure, fast and frictionless payment experiences at lower transaction costs.

“Owning and operating a global open banking network, Token has a highly strategic position in the open banking ecosystem and one that is difficult to replicate

“By doing the heavy lifting for many of the leading PSPs, acquirers, banks and financial institutions, Token is driving the shift from card to bank payments in a way few other players are able to.”

Artashes Torosyan

Torosyan brings more than a quarter of a century of experience in FinTech and blockchains to the role, which is located in Berlin. His experience ranges from software development where he began progressing to senior executive roles and CTO positions for companies such as OptioPay, a German-based open banking data-driven loyalty and rewards platform, and Artory, the leading art and objects registry utilising blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.

Torosyan added: “Token’s history as a pioneer in open banking technology is what first attracted me to the role.

“The Token platform already has deep functionality to enable simple and elegant bank-direct payments for a range of use cases, from eCommerce and bill payments, to funding an account or paying off debt via loan or credit card repayments.

“I look forward to working with the team to build out these capabilities as new use cases continue to emerge.”

Continue to Push the Boundaries of Functionality beyond Regulation

Upon reflection of the announcement, Todd Clyde, the CEO of Token.io, commented: “Token’s technology underpins the open banking propositions of some of the world's most respected financial institutions and fintech disruptors.

“We are making account-to-account payments a true competitor to cards and alternative payment methods.

“With the expertise of Artashes and Charles behind us, Token will continue to push the boundaries of functionality beyond regulation through new open payments and data capabilities, premium APIs and value-added services.”