Financial services sector stalwart Mike Goodenough has been appointed as Director of Banking Services at LHV Bank following a six-month period as a business consultant. He brings more than 20 years of experience in finance and payments, developing and executing strategic and commercial initiatives within senior leadership roles across sales, product, and partnership teams within international organisations.

In his new role, Mike will drive the development of strategic initiatives to accelerate growth for the bank’s Banking Services business in the UK and Europe, enhance the product offerings, and further strengthen relationships with clients and partners.

Commenting on his appointment, Mike Goodenough said: “I am thrilled to join LHV Bank at such an exciting time of change and opportunity within the banking and payments industry. I have been impressed with the talented team and their vision and look forward to working with them to build on the considerable success already achieved. Timing is everything – great people, an unbelievable culture, an entrepreneurial spirit, huge ambitions, and tons of opportunities in the Fintech space.”

Recent roles have seen Mike Goodenough lead the Global Retail and Marketplace vertical for Worldline, responsible for all commercial activities. He was also General Manager for the EMEA region for Ingenico, responsible for strategy and commercial execution. Prior to this, he headed the Global Partnerships and Alliances team responsible for optimising global relationships with partners such as large acquiring banks, card schemes, and global alternative payment providers.

Erki Kilu, CEO, LHV Bank added: “Mike is a charismatic leader who enjoys working on complex projects and is well-known within the industry as a payments expert. Having been with the business since February 2024 as a business consultant, he already has a strong understanding of our propositions and strategic goals, and we look forward to him building on the success to date.”

Following its authorisation as a credit institution by the Prudential Regulation Authority in May 2023, LHV Bank has grown significantly. It reported a profit after tax of £6.4 million in its first year of operation as a licensed bank, providing solid foundations for ambitious development plans in 2024. In particular, the Banking Services business has built a strong customer base, which saw 2023 payment volumes increase to a record volume, processing 47.7 million payments by year-end.