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Embedded banking firm BankiFi appoints new chair

The Manchester-based fintech makes a senior appointment as it eyes US expansion.

a man wearing glasses

Tom Shen.

BankiFi, an embedded banking solutions provider, has appointed Tom Shen as chair of its board of directors.

In his new position, Shen will oversee decision making around growing BankiFi’s global presence.

The Manchester-based firm provides an embedded banking platform aimed at small and medium businesses (SMBs), which it says can help automate data integration within accounting systems and with payments collection.

The appointment comes as fintech has been expanding its operations internationally, launching in the Americas last month, with its main office residing in Ohio.

Shen has over 40 years of experience in financial technology and was previously the founder and CEO of Software Dynamics Inc (SDI) and the founder and CEO of Malauzai Software, which was acquired by Finastra in 2018. 

In addition, Shenn has previously served as Executive Vice President at Digital Insight and is currently on the board of fintech companies such as Shastic, Sensibill, and ZSuite. 

Shen said he plans to use his experience to help BankiFi’s leadership reach their goal of working with other two million SMBs.

Mark Hartley, CEO and Founder of BankiFi highlights Shen’s “huge experience” in the North American market as well as internationally.

BankiFi isn’t the only Manchester-based fintech which has set its eyes on expansion in recent months. 

In May, car finance marketplace Zuto said it plans to expand its headcount with 150 new hires.

Manchester-based mortgage challenger Mojo Mortgages also said it intends to boost its headcount by two-thirds this year, hiring over 30 new mortgage advisors.

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