TrueLayer Enlists Sebastian Vetter to Lead German Operations

Open banking payments network, TrueLayer, has announced the appointment of Sebastian Vetter as Country Manager for Germany. This move is part of TrueLayer’s strategic expansion in the German market as open banking payments continue to mature.

Background on Vetter

Prior to TrueLayer, Sebastian Vetter was with Payoneer where he spearheaded go-to-market activities for SMEs across Germany, Austria, and Switzerland. His key focus was on import/export businesses in manufacturing and ecommerce, marketplace sellers, and professional service providers. Further back, Vetter spent over six years at Mangopay, establishing the DACH region in 2016. His leadership saw transaction volumes grow from €10 million to over €500 million within three years. He also helped launch local offices in the Netherlands, Nordics, and Poland, driving further growth and localisation.

TrueLayer’s Success and Vetter’s Arrival

TrueLayer has experienced rapid growth in Germany with total payments volumes doubling year on year since 2021. The company’s Payouts product has also reached a 99.3% success rate in the country, with a coverage of over 93% for instant payments. Vetter’s arrival coincides with major regulatory changes in PSD3 and the emergence of a commercial space via the SEPA Payment Account Access scheme. This scheme is set to bring open banking-based A2A payments to European ecommerce.

Vetter’s Vision for TrueLayer

Vetter expressed enthusiasm about joining TrueLayer during a period of significant momentum in transaction volume and conversion growth. He noted a substantial shift in the banking sector’s perception and adoption of open banking. He emphasized that consumers are becoming increasingly aware of the benefits of open banking. Vetter looks forward to working with TrueLayer’s international team to deliver value for consumers and merchants, advancing towards a more secure, standardised, and open future of payments.

Max Emilson, Chief Commercial Officer at TrueLayer, shared his excitement about Vetter joining the team. He praised Vetter’s unmatched record of scaling commercials in the region and localising payment product offerings. Emilson believes that Vetter’s experience will be invaluable as TrueLayer continues to grow adoption in the German market.