What Tyler Lackey described as having a “front-row seat” in the development of TurboPass as a verification solution in the auto-finance industry has led to him taking the seat as the company’s chief executive officer.

On Tuesday, TurboPass appointed Lackey as CEO, effective immediately.

Meanwhile, Mike Jarman, who has led the company since co-founding TurboPass in 2018, is transitioning to the role of co-founder and executive chairman.

The company explained through a news release these strategic leadership changes are geared to position TurboPass for an aggressive period of growth across automotive and adjacent verticals, as the company continues its mission to modernize verification for every major life transaction.

“I have had a front-row seat to what TurboPass has built, first as a board member and investor, and now as CEO,” Lackey said in the news release. “TurboPass has already proven that direct-from-source data transforms the transaction. My mission is to take that proven platform and expand it into every vertical where verification is the bottleneck between people and the opportunities they deserve. We are not just a dealership tool. We are verification infrastructure. And we are just getting started.”

Lackey’s appointment comes at a “defining moment” for TurboPass.

The company now serves more than 10,000 subscribed businesses, has processed more than 1 million verification reports, and processes more than 110,000 verification requests per month, reflecting year-over-year usage growth of 60%.

TurboPass highlighted Lackey brings a rare combination of legal acumen, open banking expertise, and proven fintech leadership that makes him uniquely suited to drive TurboPass forward.

As chief legal officer and executive vice president at Finicity, the Salt Lake City-based open banking platform founded in 1999 and acquired by Mastercard in November 2020, Lackey was part of the core executive team that helped build, scale, and ultimately deliver one of the most consequential fintech exits in recent history.

At Finicity, Lacky oversaw legal strategy through a period of explosive growth that included deepening relationships with thousands of financial institutions, navigating complex regulatory terrain, and helping position the company as the definitive North American open banking infrastructure player.

According to the news release, those qualities directly mirror the trajectory TurboPass is now pursuing.

“The alignment between Lackey’s background and TurboPass’ core technology is not coincidental,” the company said. “TurboPass, like Fincity, was built on the principle that direct-from-source data is the only reliable foundation for financial decisions, giving dealerships, lenders, and finance companies instant access to verified income, employment, identity, and banking data without a single paper document changing hands.”

The company pointed out that vision attracted early validators.

In August 2020, Nowcom Corp. and Westlake Financial Services became TurboPass’ first institutional partners, recognizing what the founders had identified from the outset. The automotive industry was overdue for a dealer and lender agnostic solution built on open banking principles and direct-source data verifications.

“Nowcom and Westlake’s early commitment was a signal to the broader market that TurboPass was not building another point solution. It was laying the foundation for verification infrastructure that could serve every participant in the automotive transaction equally,” the company said.

Since 2020, the platform has expanded well beyond its roots in automotive income verification, now offering the TurboPass Bravo Report, TurboPass PayStub Report, TurboPass Identity Report, TurboPass Government Benefits Report, and TurboPass Insurance Monitoring.

With a growing footprint in adjacent verticals and emerging opportunities in medical finance and direct consumer lending, TurboPass is evolving into a unified verification ecosystem that mirrors the multi-vertical platform vision Lackey helped execute at Finicity.

“Building TurboPass from the ground up has been the defining work of my career, and I couldn’t be prouder of what our team has built,” Jarman said in the news release. “Our product suite is now the most comprehensive verification platform in the industry.

“The next chapter is about scaling nationally and into new verticals, and that requires a CEO who has lived through exactly that kind of growth. Tyler did it at Finicity. He understands open banking, he understands verification infrastructure, and he has been a believer in and investor in TurboPass for years. He is the right leader for this moment, and I am thrilled to support him as we build what comes next,” Jarman went on to say.

In his new capacity as co-founder and executive chairman, the company said Jarman will remain deeply engaged with TurboPass’ strategic direction, key partnerships, and industry relationships, bringing over three decades of institutional knowledge and the credibility he has built with dealerships, lenders, and partners across North America.

Co-founder and COO Ken Jarman, whose operational leadership has been central to the company’s growth, has been instrumental in scaling the platform, managing compliance infrastructure, overseeing day-to-day operations, and building the partnerships that underpin TurboPass’ market position. He will continue in his elevated role driving the execution and platform delivery that has defined TurboPass’ trajectory.

Together, the Jarman brothers and Lackey represent a leadership team that combines the entrepreneurial grit of TurboPass’ founding with the scaled-company experience required to reach the next tier.

“With a proven platform and an expanding product suite spanning income, employment, identity, government benefits, and insurance monitoring, TurboPass enters this next phase as the most comprehensive direct-from-source verification platform in the industry,” the company said. “Tyler Lackey’s appointment signals the company’s commitment to transforming from a beloved industry tool into a national verification standard.”