Hank Payments Secures Industry Leader as President and Chief Operating Officer
Toronto, Ontario--(Newsfile Corp. - November 3, 2021) - Hank Payments Corp. (TSXV: HANK) ("Hank" or the "Company"), a North American financial technology company that acts as a consumer's financial concierge, using powerful technology to automate the complexities of personal cash flow management, is pleased to announce that Jeff Guthrie has joined as President and Chief Operating Officer, effective immediately.
Jeff Guthrie is an accomplished financial services leader with over thirty years of experience in payments, banking and financial services. As a founding executive of Moneris Solutions ("Moneris"), today Moneris remains Canada's number one payment processor and one of North America's largest. Over his 19 year tenure at Moneris, Mr. Guthrie held a wide range of senior roles, including Senior Vice-President Operations and Integrations, Chief Operating Officer, and Chief Sales and Marketing Officer. Prior to Moneris, Mr. Guthrie served as Vice President, Card Services at RBC Royal Bank. Mr. Guthrie has also served on the MasterCard Canada, Visa International, and Discover North American Advisory Boards.
This tenured addition to the Hank executive team will drive planned product and technology rollouts, organic and acquired growth and overall strategy, while further institutionalizing Hanks people, processing and tools as Hank prepares to ignite growth.
"Jeff's proven cross platform execution will be instrumental to immediately scale Hank as we accelerate our growth strategy across the United States. Holding a Masters of Management with specialities in International Business, and with a considerable network of business contacts, we expect Jeff will contribute quickly to our organizational advancement, ensuring growth with an eye towards risk mitigation during transaction driven events," said Michael Hilmer, Hank Chairperson & Chief Executive Officer. Hilmer continued, "I am delighted that Jeff has chosen to lead Hank's execution and his style and institutional thought processes are complementary to mine and our teams. Securing Mr. Guthrie allows me to focus more directly on illuminating our vision with large investors, bankers, prospective institutional partners and acquisition targets, with the confidence of knowing that carriage of execution is well in hand."
"After analyzing many interesting Fintech opportunities in great detail, I am excited to choose to lead Hank principally for the commitment the team has towards the mission of helping consumers get financially well and for the innovation in the platform today as well as what we have in development. I am fueled by aggressive growth and pressure and I have delivered exceptional results my entire career. Hank's growth path and platform strategy are among the most exciting I have seen in the sector and with Hank already deployed in a massive consumer market, I see dramatic growth at our fingertips. I plan to work very closely with Michael and the team to ensure my institutional knowledge fuels everything we do here at Hank, including large deal launches, consumer growth and transaction negotiation and integration, all with a view to create long term stakeholder value," stated Mr. Guthrie.
The company is expanding and accelerating discussions with many large scale, institutional strategic partners in addition to maturing discussions with potential transaction targets. In support of these crucial growth initiatives, the company is investing early in expanding its leadership to ensure our momentum translates quickly to compounding revenue through seamless integrations.
Former Chief Operating Officer, Chris Cicolini, is transitioning to lead Corporate Development, focussing on large partner and transaction opportunities.
Hank also granted a total of 130,000 options of Hank, with an exercise price of $1.00 and an expiry date of November 1, 2031. In addition, Hank also issued 770,000 restricted share units. The options and RSUs are subject to the standard provisions of the Hank's equity incentive plan.
About Hank Payments Corp.
Hank is a financial technology company. The Hank software platform (the "Hank Platform") acts as a consumer's personal, financial concierge using a powerful technology to automate the complexities of personal cash flow management. Through its FDIC (Federal Deposit Insurance Corporation) insured bank partners in the United States, Hank helps consumers in every state find funds in their existing cash flow and speed up the retirement of liabilities. The Hank Platform debits consumers when they have cash, stores the cash with partner banks, then automatically instructs partner banks to pay bills and loans as they come due, and often sooner than required. Approximately half of Hank's customers are financially sound and use the Hank Platform for convenience, while the other half improve their payment performance through use of the Hank Platform. One hundred percent of Hank's customers are in the USA and pay setup and ongoing monthly processing fees while remaining on the Hank Platform for an average of three years. Hank continues to innovate and anticipates launching more expansive features to its expected growing customer base that will provide greater visibility into their cash flow, credit performance, and viability to borrow or refinance at lower rates, including introducing Hank customers to interested lenders.
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