Whitfield joins Nudge to spearhead its strategy for growth both through expansion into global markets and via a direct to consumer model through partnerships.
Nudge is used by 250,000 people at employers such as Blackrock, IBM, Samsung, Santander, and Virgin. Nudge provides sales-free and personalised financial education in the UK, Ireland and Spain. The company has seen 90 per cent year-on-year growth, with over £1m invested in annual research & development spend and securing over £4m of contracted revenue.
The company says future growth will be ‘exponential’ through three channels: workplace, partnerships and B2C, with the aim of quadrupling users by 2020.
Whitfield says: “With the last recession over ten years ago, the global economy is entering uncertain times again. There’s a perfect financial storm across every age group and demographic and Nudge is well placed to provide the right level of financial education that employees of all ages will need to weather it and emerge safely the other side.
“I’m delighted to have joined Nudge this year, not just because I’m excited about our financial future, but also because I am thrilled about the genuine contribution we can make to improving the financial decisions of millions of people in the UK and elsewhere.
“Our market intelligence tells us that two-thirds of corporates will offer their people financial education over the next three years. Nudge will lead this market through direct and partnership channels. Meanwhile, our B2C model is shaping up well. Until now, nobody has cracked the opportunity of supporting people beyond their sponsoring employer. In my 40 year career, I haven’t been this excited by the opportunity to make the world a better place through technology.”
Nudge co-founder and director Tim Perkins says: “Jeremy Beament and I worked with Michael for 12 years at Thomsons, and it is clear there is no better placed person globally to advise us through our incredible growth trajectory. Michael’s unrivalled market knowledge and experience will ensure we continue to delight our clients and expand our users beyond 1 million in 2020.”
