MarketInvoice has appointed Shaun Alexander as head of risk, recruiting him from Santander where he served as head of risk for asset-based lending since 2008.

Alexander has over 30 years’ experience in retail and corporate banking, and has previously worked at Barclays and Santander, leading asset-based lending and business finance teams.

He will be tasked with using technology such as artificial intelligence and machine learning to introduce automation in the risk process.

Alexander said: “For too long, as I have witnessed first-hand, the status quo in risk management has gone unchallenged.

“I will look to adopt the latest technology in evolving our risk models and credit management to achieve MarketInvoice’s ambitions.”

MarketInvoice said it wants to broaden its reach to support a wider range of businesses. In this role, Alexander will work with Ilya Kondrashov, co-founder and chief operating officer of MarketInvoice to develop risk management strategy, credit scoring systems, and risk policies.

Kondrashov said: “We have been steadily strengthening our management team over the past 12 months and Shaun’s addition enhances our team further.

“As we grow, in handling the scale and volume of interest in the business, it is imperative that we have the resources to deliver on our customer promise whilst delivering the highest quality risk tools. As such, adopting the latest technology is key to driving success.”