Manchester-based BankiFi, a provider of embedded banking tools, has appointed fintech veteran Tom Shen as chairman of its global board of directors.
Shen will oversee top-level decision making and developments to grow BankiFi’s global presence – the company recently expanded operations into North America – and fulfil the company’s mission to provide a cutting edge embedded banking platform for small and medium businesses (SMBs) worldwide.
Shen is well-known for scaling digital banking technology and has more than 40 years of experience in the financial tech industry. He was the founder and CEO of Software Dynamics Inc and the founder and CEO of Malauzai Software, which was acquired by Finastra in 2018. He also served as executive VP at Digital Insight and is an active board member of fintech companies Shastic, Sensibill and ZSuite among others.
BankiFi provides an open cash management platform and architecture that banks and financial institutions embed into their current digital banking infrastructure to address the unique segments of their SMB portfolio. BankiFi’s platform addresses critical SMB requirements through digital workflows that collect payments faster, automate data integration with accounting systems and provide comprehensive insights to optimize working capital.
Shen said: “BankiFi has proved to be an extremely valuable and trustworthy partner for banks and their SMB customers on three continents, and they are now bringing that expertise to North America. I’m excited to join the BankiFi team and help reach their goal of helping more than two million SMBs through their comprehensive open cash management solution for banks and financial institutions.”
Mark Hartley, Bankifi CEO added: “Having Tom join BankiFi as chairman is a real endorsement of what we’re trying to do. Tom has built two successful fintech companies, as well as serving on the executive management team and boards of some household names. Not only does he bring huge experience in the North American market, but all over the world, which is why we’re so excited to have him as part of our growing team.”
