Advanzia Bank, the European digital bank specialising in credit cards and payment solutions, has appointed Nishant Fafalia, who has served as interim Chief Executive Officer since the start of 2023, as its permanent CEO. His appointment has been approved by the CSSF.

Nishant Fafalia has a deep knowledge of Advanzia, having been an Investment Director at Kistefos AS (Advanzia’s majority shareholder) since 2010, and a member of the Board of Directors of Advanzia Bank since 2016. He holds a Master of Science degree from Lund Institute of Technology and a Master of Science degree from Lund University School of Economics & Management.

Alongside the day-to-day management of Advanzia, Nishant Fafalia will continue to execute the bank’s strategic roadmap. This includes enhancing Advanzia’s service offerings, such as its tailored Cards-as-a-Service (CaaS) range, where Advanzia enjoys a leading position as the go-to bank in Europe. He will also focus on nurturing Advanzia’s sustainable and profitable growth by investing in the bank’s operational excellence, with a particular focus on AI-driven digital transformation and enhanced customer centricity.

“This is a pivotal time in Advanzia’s strategic development, and I’m thrilled to be leading the bank through this innovative journey,” said Nishant Fafalia, CEO of Advanzia Bank. “Since my appointment as interim CEO in March, I’ve been energised by our employees’ passion and collaboration, and look forward to further building on our success by maximising our talent’s expertise. Together with Advanzia’s teams, I remain committed to furthering our digitalisation and strengthening our operational foundations to realise our ambitious growth plans.”