Sandstone unveils next CEO

Mr Saha first joined Sandstone Technology (Sandstone) last year, commencing his current role on 7 October. 

As the open banking fintech highlighted when it first announced Mr Saha’s appointment, the incoming CEO has more than 25 years of experience in the technology and financial services sectors. 

From October 2020 to October 2021, Mr Saha was the chief product officer of the payment platform provider Linkly. 

Prior to this, he spent almost eight years as the general manager — transactions for Premier Technologies, where he led the group’s eCommerce and Voice payments business unit, FinTech, focusing on white label software-as-a-service solutions for Tier 1 banks.

In October 2020, Linkly acquired Premier Technologies’ payment platforms, including MerchantSuite. 

Mr Saha also served with Commonwealth Bank from 2004 to late 2011, where he was both the product manager (eCommerce solutions) and the product development manager, new BPAY. 

Mr Saha is expected to commence his promotion on 8 August where he will replace current CEO Michael Phillipou. 

Mr Phillipou was named as Sandstone’s chief executive in December 2020. 

According to the fintech, Mr Phillipou has made the decision to “take up an opportunity outside of the business”. 

Mr Phillipou said on this announcement that he joined Sandstone because he believes in the “mission of helping banks to grow their businesses in the most efficient and compliant way, through the provision of market-leading technology platforms”. 

He added that he is “exceptionally proud” of the work Sandstone’s board, advisory committee, executive team and its broader team “have executed on to support our financial institution customers when they have arguably needed it most”.

“It now gives me great pleasure to hand over to the executive general manager, digital banking & elevate, Abhish Saha who will become the next CEO of Sandstone Technology,” Mr Phillipou said. 

“Abhish is exceptionally well suited and best qualified to work with the board and advisory committee to guide this wonderful 26-year-old organisation into its next phase of growth and success.” 

Mr Saha commented that he was honoured to be appointed CEO of Sandstone Technology and that he was “excited to have the opportunity to lead one of Australia’s leading fintech’s through this next period of growth”. 

"I would like to thank the owners of the business and other key stakeholders for their vote of confidence in this appointment and the unwavering support of the executive team,” he said. 

Mr Saha later added that he wanted to thank Mr Phillipou for “the strong foundation that has been laid and for leaving the organisation in a position of strength”.

[Related: Bendigo and Adelaide confirms partnership with Sandstone]