Wellinghoff joins Payments Association board to drive compliance

Willem Wellinghoff, Chief Compliance Officer and UK Chair of Ecommpay, has been elected to join the Advisory Board of The Payments Association. His appointment brings more than two decades of financial services and regulatory expertise to the governing body overseeing one of the UK's largest payments communities.

Industry leadership

The Payments Association Advisory Board features twenty sector leaders tasked with guiding the strategy and direction of the Association. Members of the board participate with the aim of promoting a profitable and sustainable payments industry. The Payments Association plays a significant role in developing guidance and best practice across the payments sector and works closely with industry and regulatory partners.

Compliance focus

Wellinghoff is recognised for his experience in financial crime prevention, technology, and legal affairs. Prior to his new role on the board, he contributed to the Association's Regulatory Working Party and was involved in developing the organisation's Manifesto. He now joins the board as compliance specialists become increasingly important in response to changing regulations and industry scrutiny.

"I believe a strong, dedicated focus on payment regulation remains essential to safeguarding industry growth, consumer trust, and the UK's position as a global leader in payments innovation," said Wellinghoff, Chief Compliance Officer and UK Chair, Ecommpay.

Financial inclusion

Ecommpay has championed financial inclusion within the payments landscape. The company recently launched the Ecommpay for Good initiative, part of a broader cultural shift focused on improving accessibility. Over the past year and a half, Wellinghoff played a key role in redeveloping Ecommpay's compliance, risk, and legal frameworks, and strengthened the firm's relationships with regulators.

Wellinghoff's commitment to financial inclusion is reflected in both company and industry initiatives. He intends to leverage this approach on the Advisory Board, referencing ongoing efforts to encourage collaboration and ensure the Association's objectives stay at the forefront of the sector's evolution.

"I look forward to assisting in influencing and enhancing regulatory policy decisions and ensuring stronger collaboration so that we can retain focus on the aims of the Payments Association Manifesto and the National Payments Vision."

Election process

Members of the Payments Association elect Advisory Board members who are seen as capable of driving positive change across the sector. Wellinghoff's background in compliance, risk management, and inclusivity was influential in his selection for the board.

"Advisory Board members are nominated and elected to the board by Payments Association members, based on their ability to lead and drive positive change within the payments industry. With his unique compliance, legal and risk expertise, plus clear commitment to inclusivity & driving the industry forward for the benefit of the entire payments ecosystem, Willem will be an invaluable addition to our Advisory Board," said Ben Agnew, CEO, The Payments Association.