Banking technology provider BankiFi has appointed Tom Shen as chairman of the company’s global board of directors.

The Manchester firm, sixth on BusinessCloud’s FinTech 50 ranking last year, say industry veteran will help grow BankiFi’s global presence and fulfil the company’s mission to provide cutting edge embedded banking platform for small and medium sized businesses (SMB).

Mark Hartley, CEO and founder of BankiFi, said: “Having Tom join BankiFi as chairman of the board is a real endorsement of what we’re trying to do. Tom has built two successful FinTech companies, as well as serving on the executive management team and boards of some household names.

“Not only does he bring huge experience in the North American market, but all over the world, which is why we’re so excited to have him part of our growing team.”

Shen is well-known for scaling digital banking technology and has more than 40 years of experience in the financial technology industry.

He was the founder and CEO of Software Dynamics Inc. (SDI) and the founder and CEO of Malauzai Software, which was acquired by Finastra in 2018.

BankiFi launches ‘banking super app’ for SMEs

He also served as Executive Vice President at Digital Insight and is an active board member of Fintech companies including  Shastic, Sensibill and ZSuite.

Shen said: “BankiFi has proved to be an extremely valuable and trustworthy partner for banks and their SMB customers on three continents, and they are now bringing that expertise to North America.

“I’m excited to join the BankiFi team and help their leadership reach their goal of helping more than two million SMBs through their comprehensive open cash management solution for banks and financial institutions.”

Will BankiFi become Manchester’s top tech export?

BankiFi provides an open cash management platform and architecture that banks and financial institutions embed into their current digital banking infrastructure to address the unique segments of their SMB portfolio.

The company’s platform addresses critical SMB requirements through digital workflows that collect payments faster, automate data integration with accounting systems and provides comprehensive insights to optimise working capital.