Philippine-based payments startup PayMongo has named Jojo Malolos as its new president and chief executive officer (CEO), with effect from February 1, 2023.
With the appointment of Malolos, Isabel Ridad will already be stepping down as the Interim CEO, the company announced in a recently released public statement.
Ridad is set to leave the company soon to pursue her own ventures.
But before she leaves, Ridad will be working with Malolos until the end of February in order to ensure a smooth transition. She will also serve as a member of the PayMongo Board of Directors after that.
As the company’s new CEO, Malolos will now be tasked to lead the re-shaping of PayMongo’s plans for the next phase of its growth.
Malolos is set to implement a broad range of transformation initiatives under his watch.
Just like many other companies, PayMongo is also entering a scale-up period amidst a very challenging market environment.
Members of PayMongo’s Board of Directors have expressed confidence that with Malolos’ vast experience and his ability to effect and manage change, he will be able to leave the company in achieving its goals.
Malolos also has significant experience in M&A, organizational transformation and an impressive track record in fintech, venture capital, digital banking and innovation ecosystems.
As the new CEO, Malolos is set to lead the introduction of PayMongo’s next generation of products and services with a view to better serve its existing client base.
PayMongo will also be working to drive the advancement of the internet economy in the Philippines and the rest of Southeast Asia.
With the company’s newly issued EMI license, Malolos is expected to continue to focus the organization on driving significant impact in the digital financial services sector.
Before he joined PayMongo, Malolos served as President and CEO of DAVI and JG DEV, which serve as the data analytics and venture arm of the Gokongwei Group.
Malolos was also co-founder and Chairman of GoTyme Bank, one of the country’s digital banks licensed by the BSP and was previously the former CEO of Wing Bank, a leading digital financial services provider in Cambodia and of Smart Money that is now popularly known as PayMaya/Maya.
In addition, he also had global fintech experience that included stints with Mastercard Financial Services in Latin America and Cignifi Boston, which brought alternative credit scoring innovation to African emerging markets.