Mike Pratt AM joins RDC Board of Directors
SYDNEY, Australia | 26 April 2023
Rich Data Co (RDC) announced today that Mike Pratt AM has been appointed to the company’s Board of Directors, effective immediately.
With an exemplary corporate career and depth of banking experience, Mike joins the RDC Board of Directors to strengthen the company’s corporate governance and support RDC’s leadership team to execute on its purpose to accelerate the impact of AI in the banking sector and enhance financial inclusion.
Mike will draw on over 20 years of experience in the private sector in Australia, where he held senior executive roles in the banking and finance sector, to support RDC and its ambitions to revolutionise the way banks determine lending decisions. Mike was formerly the Regional Head of Consumer and SME Banking, Northeast Asia at Standard Chartered Bank; Group Executive of Westpac Business & Consumer Banking; CEO of National Australia Bank in Australia; CEO of Bank of New Zealand; and CEO of Bank of Melbourne. He is a former President of the Australian Institute of Banking and Finance and was the inaugural Joint President of the Financial Services Professional Body of Australia. Mike’s experience in the upper echelons of corporate Australia, and the calibre of his current and former directorships, speak volumes of his expansive and highly relevant knowledge, leadership and skill.
In 2016, Mike was honoured as a Member of the Order of Australia (AM) for his contribution to Australian society, particularly to public administration through reforms in customer service and communications in his 10-year contribution to the Australian public service as Secretary of NSW Treasury and NSW Customer Service Commissioner, and to the finance and banking industry. Mike was also awarded an Honorary Doctorate of Letters in April 2018 from Western Sydney University for his services to the University and to the wider community.
RDC Chairman & Co-Founder, Michael Coomer, said: “I am delighted to welcome Mike to the RDC board. Having had the privilege of working alongside Mike in former banking sector roles over the past 20 years, I’ve seen in real-time how Mike’s early adoption and embracing of data, analytics and technology has shaped the industry and benefited customers across Australia. I know he will be a hugely influential addition to the RDC DNA, and to the evolution of the sector’s thinking on AI more broadly. Mike’s attentiveness to the opportunities AI offers in enabling more inclusive opportunities for customers seamlessly integrates with RDC’s commitment to AI for good.”
Incoming RDC Board member, Mike Pratt, said: “I am excited to be formally engaged with Rich Data Co. AI brings a whole new dimension to the way we operate in every sense and RDC is at the forefront of delivering value and more inclusive offerings for the banking sector and its customers. It is wonderful to reconnect with Michael Coomer and continue our long running professional partnership alongside CEO and Co-Founder Ada Guan and the executive team at RDC.”
“AI is fundamentally going to change the way we work, and it is a sector I want to be engaged in. With my knowledge and background of the banking industry, I can bring my experience to the table, while relying on others at Rich Data Co to bring the technical experience in AI. It’s a good coming together of different backgrounds and experiences.”
Alongside its success in the Australian and Asia-Pacific markets, RDC is currently expanding its offering to the North American market, in partnership and with guidance from worldwide leader in cloud banking, nCino.
About Rich Data Co
Rich Data Co (RDC) was founded in 2016 in Sydney Australia. RDC is driven to increase global access to inclusive, fair and sustainable credit. The RDC AI Decisioning platform provides lenders with deeper insight into borrower behaviour, enabling faster and more accurate decisions that empower confident lending to Business and SME lending segments. This next-generation platform enables lenders to more accurately access credit risk and predict future business performance to enable access to sustainable credit. www.richdataco.com