An industry leader who has received multiple accolades through award programs orchestrated by Cherokee Media Group now is part of the team at Wolters Kluwer Compliance Solutions.
Jenn Reid has been named digital lending sales director to advance awareness of Wolters Kluwer Compliance Solutions’ end-to-end digital capabilities delivered by its eOriginal open platform.
Reid has more than two decades of diverse executive experience in the automotive industry within the dealer, financing and information services’ categories, having been a founding member of the teams that built Mazda Capital Services, a private label within J.P Morgan Chase, and Equifax Automotive Services.
Wolter Kluwer highlighted Reid has developed extensive relationships with leading finance companies, manufacturers, dealers, technology and data providers to further the use of innovative analytics and technology solutions to transform their businesses including as an advocate for industry partnerships to drive transformation.
Most recently, Reid served as head of strategic partnerships at Market Scan Information Systems.
An active member with the American Financial Services Association, Consumer Banking Association, National Automobile Dealers Association and National Independent Auto Dealers Association, Reid has won numerous industry awards for her contributions, including being among the Women in Auto Finance, Women in Retail and Auto Remarketing’s 40 Under 40.
Wolters Kluwer Compliance Solutions is a provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
Lightico recently reinforced its global executive team by welcoming Moti Gabay as its vice president of global partnerships and alliances and head of its London office.
The personnel move comes on the heels of significant growth at the digital completion company supported by a $27 million Series B funding round completed this year.
“As Lightico has grown exponentially over the last two years, the value of key partnerships and integrations with leaders such as Salesforce, NICE inContact and Amdocs, has proven itself to be invaluable to expanding into new markets,” Lightico chief revenue officer Gilad Komorov said.
“Without a doubt, Gabay’s experience and talents will take Lightico’s partnerships and ecosystem penetration to the next level, especially in North America and EMEA,” Komorov continued.
Lightico highlighted that Gabay previously served as vice president of global customer success and international sales at cloud optimization company Spot.io where he drove 100% year-over-year revenue growth bringing the company above the $50 million annual revenue threshold while scaling the operation and doubling the size of the global team.
Prior to that position, Gabay served as vice president of the international commercial group at conversational AI leader LivePerson helping to build and scale the presence across EMEA and APAC regions.
“I’m excited to be joining Lightico at this critical juncture as the businesses transition to a post-Covid economy that is thirsty for complete digital interactions,” Gabay said.
“Digital transformation isn’t new, but I haven’t seen anything like Lightico’s Digital Completion Cloud which offers such a powerful yet simple toolset to get customer-facing business processes done quickly, efficiently and effectively,” Gabay went on to say.
Lightico Digital Completion Cloud offers B2C companies a unified, no-code, mobile-first solution for companies that can enable them to quickly and seamlessly complete high-friction interactions with customers such as auto financing, insurance claims and onboarding or opening of new financial accounts.
The Digital Completion Cloud can unify eSignature, document collection, identification and verification, payment and more to enable B2C interactions to be completed in a highly convenient and efficient multi-purpose channel.
Inovatec Systems reinforced its U.S. sales team last week by hiring Sean Toggweiler, who joins the company as director of U.S. sales for Eastern and Western states.
According to a news release, Toggweiler joined Inovatec from Finastra, where his sales leadership resulted in surpassing quarterly goals by more than 150%.
Toggweiler will work alongside Brendon Aleski, who serves as director of U.S. sales for the Central, Upper Midwest, Southern and Rocky Mountain states, including Texas. They’re joined by Ioana Morariu, who joined Inovatec as a director of sales for Canada after serving as general manager of BMW Canada’s Financial Services group.
With these additions, Inovatec said it has aligned a senior sales leadership team to drive both customer success and company growth.
“We’re delighted to welcome Sean, Brendon, and Ioana to our growing team of exceptional sales professionals. We know they will be instrumental toward achieving our growth objectives,” Inovatec’s chief revenue officer Sam Heath said in the news release. “Inovatec has been working to extend its reach across North America by delivering proven integrated solutions that help lenders and dealers maximize both efficiencies and profits.
“Our sales team’s market expertise and technical proficiencies make them uniquely qualified to help lenders choose the solution that will meet their needs today, tomorrow, and well into the future,” Heath added.
Based in Burnaby, British Columbia, Inovatec’s platform can automate the laborious processes and complicated workflows associated with origination and servicing.
Inovatec said its solutions can lower overall operating costs, while also providing opportunities like cross-marketing of related financial products.
To learn more about Inovatec, visit inovatec.com.
A former Visa executive is taking an important role at TransUnion.
On Tuesday, TransUnion announced the appointment of industry veteran Bill Shields as the company’s new chief information security officer (CISO).
Shields comes to TransUnion from Visa and has more than 22 years of experience including senior leadership roles within information security for the last decade.
The credit bureau explained through a news release that Shields will lead a global organization supporting end-to-end information security efforts and guide the evolution of TransUnion’s comprehensive information security risk-based program according to numerous industry, regulatory and best practice requirements.
“Safeguarding information is a top priority at TransUnion and Bill’s expertise advances our best-in-class information technology organization while helping us achieve our priorities today and beyond,” TransUnion’s chief information technology officer Abhi Dhar said. “He will elevate our multi-layered approach to information security as the company continues its rapid growth trajectory.”
During his two stints at Visa, Shields was most recently the senior vice president of cybersecurity where he developed and implemented the global strategy behind the company’s defense and engineering program focused on prevention, detection and response of threats. Shields also led the security assessment, integration, and control enhancements of the company’s acquisitions.
Earlier in his career at Visa, Shields was responsible for leading the cyber engineering and analytics organization. This work included the strategy, design, implementation, visibility, and operations of core cybersecurity tools.
In between his time at Visa, Shields worked for Citade,l where he led the vision and development of the firm’s first information security program as its CISO.
Shields began his career at Fidelity Investments where he worked for more than 16 years in a variety of technology and security roles.
AutoAPR recently named a new vice president of sales.
Taking on the role for the payment engagement company that aims to reduce friction points by matching virtual payment calculations to a dealer’s inventory is Rob Hubbell.
In this role, the company said Hubbell will take his sales expertise in digital retail from former companies the likes of Edmunds, AutobyTel, Autoweb and DealerSocket and build out both the AutoAPR sales team, as well as introduce AutoAPR’s payment engagement solution to a new generation of dealership executives.
“We’re excited to announce Rob as our vice president of sales as we continue to build out the AutoAPR network,” AutoAPR chief executive officer Dan Mayer said in a news release. “As we’ve seen during the pandemic, and now the chip shortage, dealerships are in need of a variety of ways to entice customers to engage, both online and in the store.
“Our payment engagement solution is a great way to give buyers a non-confrontational view of what they can afford and help dealerships accelerate those sales. Rob will be a key player in the successful rollout and adoption of our payment solution. We’re lucky to have him,” Mayer continued.
Hubbell described his reasons for joining AutoAPR, whose solutions are used by franchised and independent dealers, as well as RV and Powersports dealers across North America.
“Being in the automotive industry for over 25 years, I have been lucky enough to see the digital market from a multitude of perspectives. I have yet to find a company that I admire as much as AutoAPR, solely due to its incredible innovation,” Hubbell said.
“Dan and his team have developed a unique tool to provide car shoppers with everything they need to know about auto finance in one location. They have found a way to bridge the gap between dealers’ websites and digital retail and I could not be more excited to take part. I look forward to utilizing my expertise to help our customers and partners become empowered and succeed more now than ever,” Hubbell went on to say.
To learn more about AutoAPR and its products, visit.www.autoapr.com.
Fintech firms are investment in people and buildings, too.
Continuing a trend of recent activities, iLending announced last week that it has opened its newest office in Columbia, S.C.
According to a news release from the auto refinancing company, team members have begun work in the facility, and approximately 40 consultants are slated to be hired this year, with an additional 50 more by the end of 2022.
“We’re thrilled to be in South Carolina, a state with a talented workforce, excellent educational institutions and significant footprint in financial services,” said iLending chief executive officer Tom Holgate, who took on this role last month.
“Our Columbia team members will work closely with customers across the country, guiding them through the refinance process to improve their finances and save money. We have built our business by providing the best possible customer service and our new office will help us reach more consumers,” Holgate continued.
Through its network of credit unions and other finance companies, Holgate highlighted that iLending’s auto refinancing platform is available in all 50 states and Washington, D.C., and can handle the entire process including finding the best rates, paying off the previous financing and re-titling the vehicle.
Holgate mentioned that iLending has saved its customers more than $50 million on their monthly payments so far this year.
“We estimate that one in four auto loans are overpriced, meaning consumers are often paying more in interest than they should be based on their current credit profile. Many of the customers we serve had no idea that refinancing their car loan was even an option for them,” Holgate said. “Our team in Columbia has a tremendous opportunity to help people and contribute to the growth of our business.”
And officials from the Palmetto State are glad to have iLending. Here are what a quartet of them said in the news release.
Richland County council chair Paul Livingston: “It is always exciting when a company opens its doors in Richland County, especially when it means more jobs for our strong and capable workforce. The council welcomes iLending to our community, and we wish the company great success at this new location.”
Columbia Economic Development director Ryan Coleman: “We are excited to have iLending open its first southeastern location in Columbia, S.C. This company will bring 40 high paying new jobs to the area this year. Columbia was chosen for this location because of its talented workforce and the pipeline of talent generated by our universities and colleges.”
Columbia Economic Development deputy director Kay Hampton: “Columbia Economic Development has been focusing on the fintech industry as a growth area and having iLending open is exactly the type of jobs we want to create for Columbia. The Columbia based office will be working nationally but also available to provide services to Columbia and the Midlands.”
South Carolina Chamber of Commerce president and CEO Bob Morgan: “iLending’s decision to open a new center in Columbia is yet another example of the vibrance of South Carolina’s economy. The SC Chamber of Commerce is thrilled to welcome iLending to the state and honored to have them as a partner in our effort to be the leading voice for business in South Carolina.”
Along with this move, iLending has substantially ramped up hiring to help support its growth, including bringing on additional senior-level executives, expanding its Austin, Texas office and developing near shore partnerships.
Last week, the National Association of Federally-Insured Credit Unions announced the hiring of Gregory Mesack as senior vice president of government affairs, bringing more than two decades of experience in financial services policy advocacy.
In this role, NAFCU said Mesack will lead the association’s legislative, political, regulatory, compliance assistance, research and economic divisions.
In the past, Mesack has been named one of the top lobbyists by The Hill newspaper.
Mesack joins NAFCU from the law and lobbying firm of GrayRobinson where he advocated on behalf of clients to policymakers and regulators. Prior to that position, he was at Eris Group where he was managing director and partner.
Mesack’s clients have included:
— Mortgage Bankers Association
— Financial Services Institute
— Federal Home Loan Bank of Atlanta
— TransUnion
— PayPal
— Western Union
— Nike
Previously, Mesack also was vice president of government affairs for America’s Community Bankers.
Before joining the private sector, Mesack worked on Capitol Hill where he advised several members of Congress.
“I’m thrilled to welcome Greg to the NAFCU team; his extensive experience advocating on behalf of multifaceted companies to policymakers and regulators will allow him to hit the ground running on behalf of our members,” NAFCU president and chief executive officer Dan Berger said in a news release.
“As Congress and the Administration continues to work on policies to facilitate an economic recovery, I’m confident that Greg’s extensive experience will allow him to effectively advocate the credit union difference to policymakers and continue to build on our successes,” Berger went on to say.
Tanya Sanders is showing again why she was honored as the Auto Finance Executive of the Year in 2020.
On Wednesday, Wells Fargo announced that Sanders will be the new head of Wells Fargo Auto. She brings more than two decades of financial services experience to the role and succeeds Laura Schupbach, who recently announced her decision to retire after 26 years with Wells Fargo.
Sanders has been with Wells Fargo since 2019 and brings experience from numerous leadership positions within the auto finance industry to her new role. Most recently, she led Wells Fargo Auto’s transformation team and before that led Wells Fargo Auto’s underwriting and fulfillment group.
Prior to joining Wells Fargo, Sanders was the managing director of business operations for Chase Auto, where she oversaw shared services operations for retail and private label auto originations. She also held leadership roles at Bank of America and General Electric in auto, small business, business banking and consumer finance businesses.
Over the course of her career, Sanders has earned experience in sales, strategy and business development, mergers and acquisitions and corporate audit.
Sanders is the co-chair for Wells Fargo Consumer Lending’s Diversity, Equity, and Inclusion Council and a member of the American Financial Services Association board of directors, where she also serves as a committee chair for the Women’s Leadership Council.
“Tanya has been instrumental in laying the foundation for Wells Fargo Auto to leverage more automation and digital capabilities to deliver for our dealers and customers,” said Mike Weinbach, chief executive officer of consumer lending at Wells Fargo.
“Her experience and vision, coupled with the strong team she is inheriting, position the business for a bright future,” Weinbach continued in a news release.
Wells Fargo also highlighted Schupbach’s retirement comes after a financial services career that spans nearly three decades.
Schupbach joined Wells Fargo in 1995 and held senior-level positions across the bank throughout her career. She was selected to lead Wells Fargo Auto in 2017 and led the team through a successful transformation of the business designed to make it “more nimble, scalable, and ready to compete in a fast-changing industry.”
Before leading the auto finance business, Schupbach oversaw Wells Fargo Insurance for several years and held senior finance leadership roles for various business units in addition to leading several companywide special projects.
“As a leader, Laura cared deeply for her team and was committed to helping the business transform into what it is today,” Weinbach said. “I’m grateful for her dedication and focus on doing what’s right for customers and leading Auto through both a business transformation and a pandemic.
“I wish her all the best in her retirement,” Weinbach added.
Inovatec Systems Corp. has significant interests in both the United States and Canada. On Tuesday, the provider of cloud-based loan origination and management solutions named its new head of business development who is familiar with how auto financing works in both countries.
Joining the company is former Equifax executive Bob Metodiev, who was selected to lead Inovatec’s business development initiatives and drive its growth strategy across North America.
As part of his responsibilities, Inovatec said Metodiev will help build strategic partner alliances that will accelerate growth in the automotive and equipment lending spaces.
Inovatec highlighted through a news release that Metodiev brings a wealth of expertise.
Metodiev spearheaded projects for Equifax’s Canadian automotive unit, doubling the size and scope of its team within three years, and then moved on to Equifax’s U.S. division to manage strategic automotive partnerships.
During his more than 15 years in the automotive finance marketplace, Metodiev has worked closely with major partners such as Cox Automotive, RouteOne, Open Dealer Exchange, and CU Direct, as well as OEMs BMW, Yamaha and Chrysler.
“We are delighted to welcome Bob Metodiev to Inovatec and collaborate with him to build our profile and customer base throughout Canada and the United States,” Inovatec chief executive officer and founder Vladimir Kovacevic said in the news release.
“His contacts and experiences will be a great asset to our organization as we continue to expand our reach and provide the efficient, secure, and reliable loan origination services that today’s financing providers expect,” Kovacevic continued.
Metodiev noted that he’s familiar with Inovatec’s system that are designed to facilitate all aspects of online loan origination and loan management workflows quickly and securely. Inovatec’s portfolio is designed to be highly customizable, offers a host of added features such as electronic document management, leasing support and third-party vendor management.
“In my previous dealings with Inovatec, I was always impressed with the company’s versatile solutions, as well as their eagerness to surpass customer expectations,” Metodiev said.
“I look forward to accelerating Inovatec’s presence in its traditional automotive and power equipment markets, as well as expanding into new sectors that offer enormous growth potential,” he went on to say.
McGlinchey Stafford recently added an experienced legal expert whose experience includes time with a luxury brand’s captive finance company.
The firm recently welcomed Jason Bichsel to its national consumer financial services compliance practice group as a member (partner) associated with the firm’s Cleveland office.
McGlinchey Stafford highlighted Bichsel has extensive in-house legal experience, having most recently worked for five years as corporate counsel at BMW Financial Services.
“Jason’s deep knowledge in the area of auto finance, informed by his years of industry experience, will benefit our clients tremendously,” said Mark Edelman, chair of McGlinchey’s consumer financial services compliance practice. “We look forward to adding his valuable perspective and pragmatic approach to our team of compliance attorneys serving clients nationwide.”
According to a news release, Bichsel’s practice focuses primarily on interpreting the myriad and varied state laws presenting compliance challenges to captive finance companies, particularly in emerging business areas involving vehicle mobility services, vehicle subscriptions, short-term leasing, and car and ride sharing.
The firm said Bichsel has experience identifying the competitive and reputational concerns that threaten to derail these businesses before they find solid ground. He also helps clients with compliance management and federal regulatory enforcement issues, and has a unique appreciation of the way state dealer franchise laws and financial services licensing impact the business decisions of captive finance companies.
McGlinchey went on to mention Bichsel’s experience extends beyond the auto-finance industry, as he also advises banks, finance companies, online lenders, and other private companies on issues ranging from credit furnishing to data privacy.
“He excels at integrating his professional experience with innovative legal thinking to help guide and shape new products,” the firm said.
Prior to working in BMW Group’s legal department, Bichsel was a business litigation associate at Thompson Hine LLP and consumer financial services associate at Akerman LLP.
“I chose to join McGlinchey because I’ve worked with this group of lawyers in a variety of contexts,” Bichsel said in the news release. “I respect their work, and what’s more, I genuinely like them and look forward to working with this team.
“Their deep commitment of service to the financial services industry paired with the firm’s national scope attracted me to McGlinchey,” he went on to say.
