Fintech firms have installed new C-suite executives, particularly chief financial officers, as they build out their digital payments offerings and expand.
The companies are also changing up their leadership ranks as payments businesses adjust to a new law regulating stablecoins and brace for economic turmoil that may follow the Trump administration’s pursuit of tariffs.
Central Payments, the embedded finance software and digital banking company, last month named Dawn Koenninger as its new chief financial officer. Its current CFO, Chad Noble, will become the company’s chief information officer, the company announced July 23.
Koenninger previously served as CFO of the company from November 2021 to November 2022, according to her LinkedIn page. “Her return reflects our commitment to sharpening our financial strategy and execution,” Central Payments CEO Nikkee Rhody said in the release. Rhody has led the company for seven years.
While Koenninger will oversee the Sioux Falls, South Dakota-based company’s financial modeling, forecasting, budgeting and other financial functions, Noble will “ensure Central Payments remains at the forefront of data quality, integrity, and insights,” the company said.
Similarly, Kansas City, Missouri-based PayIt and Charlotte, North Carolina-based Finzly each appointed new chief financial officers last month.
PayIt, a company that helps state and local government agencies transition to digital payments, appointed Steve Kovzan as its new CFO, the company announced July 23.
Meanwhile, Finzly, which helps banks upgrade their banking and payments systems, hired Adam Carson as its first CFO and Robert Coakley as head of partnerships, the company said. Finzly recently was instrumental in aiding banks with their shift to the new ISO 20022 international standard.
While several fintech firms have sought new CFOs to manage their finances and strategy, others have tapped seasoned professionals as the cryptocurrency industry adapts to its new regulatory outlook prompted by President Donald Trump’s administration.
Trump issued an executive order calling for the establishment of a digital asset market working group to recommend policy changes to his administration. This month, President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, widely known as the Genius Act, into law, introducing new regulations for the digital asset sector.
Amid the regulatory changes impacting the cryptocurrency industry, payments veterans are shaking up their leadership as they enter the digital asset market.
Bastion, the digital asset and stablecoin infrastructure provider, hired Jared Klee as its head of revenue, placing him in charge of the company’s end-to-end revenue strategy and increasing profitability, according to a July 9 press release.
Klee brings prior experience from previous venture capital, tech and digital asset companies, including IBM, the insurance firm Vouch and the blockchain company Triple Point Liquidity. Klee’s appointment was the fourth leadership change the company made in six months, sparked by “strong tailwinds across the digital assets industry and rising demand for enterprise-grade cryptocurrency products,” the company said.
Meanwhile, Bitcoin Depot, the Atlanta-based Bitcoin ATM operator and fintech firm, named Philip Brown as its chief compliance officer, the company announced July 21. Bitcoin Depot allows customers to buy cryptocurrencies at its 8,800 kiosks in North America. As the company plots its expansion, Brown will be in charge of anti-money laundering, know-your-customer protocols, transaction monitoring and state compliance strategies.
Fintech firms are preparing to expand their reach as the use of digital payments grows in the coming years. In a March report, the payments processor Worldpay predicted digital payment methods, including digital wallets, buy now, pay later services and account-to-account payments, will exceed $33.5 trillion by 2030.
Another type of kiosk operator that converts coins to other forms of currency, Coinstar, appointed Brandon Thompson as its new chief commercial officer, where he will work to drive growth in the U.S. and abroad. Thompson brings more than 20 years of prior experience at various companies, including Netspend and Green Dot, per his LinkedIn page.
As part of his new role, Thompson will be tasked with expanding the reach of its digital wallet service, per the July 30 announcement. After launching the digital wallet last year, the company aims to continue creating new products this year and expanding its reach beyond the kiosk, the company said.
