With over 23 years of experience, Nitsopoulos comes to the position from the US financial services giant PNC, where he led the company's innovation, architecture, and strategy teams of over 1,000 technologists and oversaw its strategic tech transformation program while serving as senior vice president and engineering director of retail banking technology for more than five years.

He had worked for TD Bank and IBM Canada in key product and technology roles before joining PNC.

According to the business, Nitsopoulos will use this knowledge to spearhead Zafin's product strategy and "enhance and expand Zafin's suite of solutions" in his new role.

Speaking on his hiring, Nitsopoulos states that his focus will be on creating scalable solutions that "address the complex challenges faced by our customers" and that the banking sector "is undergoing rapid transformation."

The company claims its SaaS platform helps banks "accelerate the time to market for new products" and "enables business users to work collaboratively to design and manage pricing, products, and packages, while technologists streamline core banking systems." ING, CIBC, HSBC, Wells Fargo, and Nitsopoulos' previous employer PNC are among its clients.

The news that Nitsopoulos has been appointed comes only a few weeks after Zafin said that Al Karim Somji, the firm founder, would be leaving his position as CEO after more than 20 years in it. Charbel Safadi, a former IBM executive, will take over as CEO effective immediately.

Nordic Capital, a private equity group, purchased Zafin earlier this year for an unknown amount.