Senior Management and Board Recruitment
Spectrum assisted in the recruitment of Bill Ready as President & CFO, Tracey Weinberg as SVP Marketing, Jeanne Anderson as VP Product Development, and Brian Smith as an independent board member.
As part of Spectrum’s deep focus on the financial technology industry, iPay was identified to benefit from the shift to electronic payments in the banking industry. The founders chose to partner with Spectrum based on the firm’s relevant industry experience, including the firm’s success with Mortgagebot, a company with similar business model and customer base.
Under Spectrum’s ownership, the company significantly grew its financial institution customer and bill pay end users. At the time of acquisition by Jack Henry & Associates, the company had become the largest independent online bill payment company, serving over 3,500 banks and credit union customers.
Spectrum assisted in the recruitment of Bill Ready as President & CFO, Tracey Weinberg as SVP Marketing, Jeanne Anderson as VP Product Development, and Brian Smith as an independent board member.
Management launched an auto-enrollment program and bill pay remittance solutions for small businesses to dramatically expand the company’s number of bill pay end-users.
iPay formed over 50 key reseller partnerships, including S1, First Data, and Q2 Software, adding 1,000+ financial institution customers.
The company developed cross-marketing opportunities with Mortgagebot.
The company increased the number of bill pay end-users from 394,000 to over 1.6 million, leading to 41% annual revenue growth.
Under the terms of the definitive agreement, Jack Henry will purchase the equity of iPay for $300 million in cash, subject to certain closing and post-closing adjustments.
Read moreDana Bowers, CEO iPay, was recognized as an outstanding entrepreneur who has proven herself through innovation, financial performance and personal commitment to her business and community.
Read moreTracey Weinberg will lead strategic initiatives to increase subscriber adoption and retention of online bill payment within the end user base of iPay’s financial institution customers.
Read moreWith over ten years of executive sales and client relationship management, Guido Schulz is the Senior Vice President of Relationship Management to focus on iPay's inside sales efforts.
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