iPay Technologies, LLC

Description

iPay Technologies LLC is the largest independent provider of online bill payment software and services to community financial institutions. iPay's BillPay-e products offer community banks and credit unions a one-stop solution to provide bill payment services to both consumers and small businesses. The company currently serves more than 1,300 financial institutions and over 475,000 end-subscribers. Spectrum led a majority leveraged recapitalization of the company, providing full liquidity to institutional investors and partial liquidity to management and employees.

CEO Biography

Michael Bowers has been Chairman and Chief Financial Officer of iPay Technologies since its' founding in 2001. Mr. Bowers serves as Managing Partner, along with his wife, Dana Bowers, who is also a Co-founder of iPay Technologies. Before forming iPay Technologies, he served in various executive capacities with Netzee in Atlanta, GA. He was President and Chief Executive Officer of Dyad Corporation, a developer of financial institution software and technology. Other previous roles include work with Evans, Porter, Bryan & Co., First Tennessee Bank N.A., First City Bank of New Orleans, LA, and Union National Bank in Little Rock, AR. He has over 30 years of service in the banking industry. Mr. Bowers earned a bachelor's degree in Banking and Finance from Louisiana State University.

Dana Bowers Co-Founded iPay Technologies and serves as Managing Partner of iPay, along with her husband, Michael Bowers. She is one of the original iPay members, and previously served as the company's President and CEO. Mrs. Bowers' career in the financial services industry began 28 years ago when she worked for Citizens Bank in Elizabethtown, KY. She was the founder of Military Services, Inc., which was a third-party bill payment service for active duty military personnel. Mrs. Bowers served as President and Chief Executive Officer of "Call Me Bill", iPay's predecessor. Her experience also includes two years as Vice President and General Manager in the Bill Payment division of a publicly-held Internet banking company in Atlanta, GA. Mrs. Bowers has a bachelor's degree in Business Management from Embry-Riddle University.

Headquarters: Elizabethtown, KY USA
Web Site: www.ipaytechnologies.com