Former Barclays CEO, Rich Ricci Joins freemarketFX as its Chairman

Former Barclays Chief Executive Officer (CEO) Rich Ricci has opted to join the ranks of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term startups, landing at peer-to-peer (P2P) currency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term venue freemarketFX as its newest chairman with immediate effect, according to a freemarketFX statement.

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Mr. Ricci’s last foray into the traditional financial services industry ended back in 2013 when he announced his retirement from Barclays Corporate and Investing. He served in a variety of senior level roles at Barclays for several years, and has since been a key figure and thought leader in early stage companies.

Mr. Ricci's career has spanned over three decades – including stints as an operational, technology, and front-office executive, mainly at leading investment banks, and most recently at Barclays.

freemarketFX is a peer-to-peer currency exchange that was launched back in 2011 by former Credit Suisse, First Boston and Deutsche Bank Vice President and Director Alex Hunn. The venue helps provide services for a panel of currency crosses over a proprietary marketplace platform.

Well applied technology in the financial sector is bringing significant benefits to individuals and businesses

According to Mr. Ricci in a recent statement on the appointment: “Well applied technology in the financial sector is bringing significant benefits to individuals and businesses.”

"FreemarketFX has developed a robust and secure currency exchange business, allowing its technological benefits to be applied to this sector and significantly reduce transaction costs for the benefit of its customers,” he added.