23rd April 2018

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Edinburgh based company Criterion, the new, not-for-profit industry body for Standards and Governance services, has appointed five non-executive directors to the board. This is to help build broad industry representation, as it looks to drive through the collaborative work necessary to meet the needs of a rapidly evolving industry.

The non-executive directors are:

  • Paul Bailey, Director of Technology, NEST
  • Billy Burnside, Head of Platform Development & E-Commerce at Aviva UK Insurance
  • Andrew Cole, Global Head of Distribution Operations at Fidelity International
  • Ross Dunlop, Head of Platform Proposition, Standard Life
  • Edward Glyn, Managing Director, Global Head of Relationship Management, Calastone

In its key role for the industry, Criterion is focussed on driving forward the development of sustainable standards and governance services that are going to be ever more vital for the movement of data and the automation of processes in the UK’s long-term savings, investment, pensions and protection markets – ensuring always that the end consumer is front of mind for the industry. 

Iain Duffin, Criterion's Chairman says: “I am delighted with the recent additions to the Criterion Board. Paul, Billy, Andrew, Ross and Edward bring a wealth of experience from all reaches of the financial services industry – their collective knowledge and expertise will greatly support Criterion’s ambition and impact.”

Caroline Mansley, Managing Director of Criterion commenting, says: “I’m delighted that the Criterion board is complete. We have not only secured broad industry representation, but also non-executive directors with a huge range of experience and expertise, which has really built our bench strength.  This will help us as we drive through the collaborative work necessary to meet the needs of a rapidly evolving industry.  With our new independent board, we will continue to provide professional Standards and Governance services, enabling the UK’s long-term savings, investment and protection markets to deliver and maintain the required ground-breaking digital services. We are in an excellent position to continue on the fundamental standards and governance work required to ensure data movement and the automation of processes develop at sufficient pace - meeting the needs of an evolving financial services industry in a safe and secure manner.”

Caroline continues: “The effect pensions freedoms had on the industry, coupled with new innovative fintech solutions poised to bring further dynamic change, demands a body like Criterion to be available to support the industry manage that process, while keeping the end consumer front of mind. Our energies and focus will be prioritised across several industry-wide activities, including pensions dashboard, distributed ledger technologies and improved pensions transfer and re-registrations. Ambitions defined by the government and the regulator can only be effectively implemented and deployed when standards are utilised. Collaborative working doesn’t happen unless all parties are ‘talking the same language’. Criterion has the track record that shows we can make this happen.”

Paul Bailey, Technology Director, NEST says: “I have seen throughout my career the ability for standards to transform the way that businesses operate regardless of whether they were developed by a standards-making body or the product of a collaboration among visionary firms.  A wave of innovation from fintech start-up firms has the potential to transform financial services for all our customers.  At the same time initiatives such as PSD2 are unlocking customer data, and customer engagement from established firms.  The definition and adoption of Standards is a key ingredient in this mix and I am thrilled to help Criterion play a vital role in the development of our industry.”

Billy Burnside, Head of Platform Development & E-Commerce at Aviva UK Insurance, says: “I am delighted to join the board of Criterion at this exciting time. Having spent 20 years working to drive the industry’s e-commerce agenda, the opportunity that Criterion offers is unique. Through collaboration across the financial services industry, we have the opportunity to establish a focal point and driving force for all participants whose ambition it is to drive straight through processing, automation and simplification through standards and governance for the benefit of consumers and advisers.”  

Andrew Cole, Global Head of Distribution Operations at Fidelity International and Non-Executive director of TeX, says: “Similar to TeX, Criterion plays a significant role in driving improvements to the standards and governance of transaction and data exchanges between industry participants, leading to a better client experience. I look forward to making a meaningful contribution to its mission and enhancing the working relationship between TeX and Criterion, something I am passionate about.”

Ross Dunlop, Head of Platform Proposition, Standard Life, says: “I have been fortunate enough to have spent many years collaborating across the industry on initiatives to enable the efficient sharing of data, de-risking processes and reducing costs for providers, advisers and our customers. In an environment where exchanging data is becoming ever more important (such as Pensions Dashboards and improving transfer and re-registration times), the creation of Criterion to take forward our industry standards and governance provides a great opportunity for our whole industry to work together to the benefit of our customers. I welcome the chance to work with the rest of the Board to ensure Criterion is well placed to support our industry.”

Edward Glyn, Managing Director, Global Head of Relationship Management, Calastone adds: “I am delighted to be joining the board of directors at Criterion, particularly at a time when the financial services industry is experiencing such high levels of change. Industry standards and governance are essential elements that will ultimately lead to increasing efficiency across the industry. We are a group of like-minded individuals who feel a deep duty of care to engage, innovate and address the increasing demand for greater transparency, and improved investment performance.”

For further information please contact: Rob Kingsbury, KGR Media Services Ltd 07900 931 305.

About Criterion
Criterion was formed for the industry in July 2017, as an independent, not-for-profit industry body for Standards and Governance. It was originally part of Origo Services Ltd and has been publishing standards for almost 25 years. 2018 will see Criterion continue to drive collaboration across the industry with the energies and focus prioritised across a number of industry-wide activities, including pensions dashboard, distributed ledger technologies and improved pensions transfer and re-registrations.