RIBBIT combines payment processing and bank data analytics to empower financial decisioning with better data and superior outcomes
OXFORD, Ohio, Jan. 12, 2021 /PRNewswire/ — Just two months after announcing a new partnership, RIBBIT welcomes to the board of directors heavy-hitters Steven M. Thompson, co-founder of Transaction Science and Eric A. VonDohlen, co-founder of Transaction Science and standing CCO of Zebit.
Thompson and VonDohlen are poised to bring exceptional value through experience and innovations in data science, predictive behavior analytics, risk modeling and credit evaluation by advising the board on new data initiatives and research opportunities.
“I am honored and excited to join the RIBBIT board and help lead the intelligent data revolution with a group of like-minded peers,” said Eric VonDohlen upon his appointment. VonDohlen has over 20 years of experience in data science analytics, beginning his career at American Express and leading teams at Citigroup and Encore Capital Group. Eric has served as Chief Analytics Officer at Triton Management and Elevate Credit and is currently Chief Credit Officer at Zebit.
VonDohlen has catapulted growth in several data-driven finance companies and turned ideas into revenue. He helped pioneer the use of bank transaction data in underwriting and engineer new data sources for use across the lending spectrum. Eric has worked with data integration and credit scoring using data from multiple hierarchical sources. Eric earned a Ph.D. in economics from the University of Arizona.
Mr. Thompson reported, “The speed at which RIBBIT is revolutionizing the marketplace is impressive and invigorating… I am thrilled with the opportunity to serve on the board alongside Mr. VonDohlen.” Steven brings more than 15 years of analytics experience in the financial, retail, energy, and transportation industries and has effectively led data initiatives at TransUnion, Elevate Credit, Tax Guard, and recently, successfully co-founded Transaction Science.
Mr. Thompson has expertise in machine learning, data engineering and enhancement, product development, and sales analytics consulting to support data-driven products. Notable projects include fusing identifiable metadata with financial behavior to support underwriting in the consumer and small business sectors. Mr. Thompson has degrees in Economics and Russian from Texas A&M University and a Master’s in Information Science from Penn State.
“Appointing Steven and Eric is the result of both happenstance and carefully planned strategy,” said Shawn Princell, CEO. “Together, we have the power to change the financial landscape.” RIBBIT’s board and advisors are set to meet next month to finalize upcoming strategy, financial milestones and new revenue streams planned for 2021.
Media Contact: email@example.com
A man should first direct himself in the way he should go. Only then should he instruct others ~ Buddha
Old fashioned lay-a-way made so much sense, a way to reserve your product, and pay for it when you actually had money, thus taking possession. It gave consumers time to rationally think about the necessity of the purchase and time to budget the appropriate money. Lay-a-way was a safeguard against impulse buying and going into debt, a fear today that doesn’t resonate as much with consumers or merchants. As a result of Covid, online shopping grew-up, and the Buy Now Pay Later (BNPL) market arrived or rather exploded on the POS scene giving credit cards a run for their money.
Whoever acquires knowledge and does not practice it remembers him who plows his land and leaves it unknown ~ Sa’di Gulistan
What could possibly entice Rick Fiorito, a just-retired, financially secure, new Floridian, and renowned payments-guru to even consider leaving the beach for an opportunity to disrupt the financial services landscape? Rick, at least, let the dust settle from your recent industry-wide retirement announcement from Mastercard. “Joining RIBBIT.ai as their COO is an opportunity I simply couldn’t miss,” Rick knowingly smiles.
Don’t just count your years, make your years count~ George Meredith
Well, well, ACH, what an accomplished, agile 5-year-old you have grown into along with the support of your NACHA parents, encouraging your growth and enhancing your skills every year. Since September 23, 2016, you have matured, up from “13 million payments the first year to over 141 million payments in just the first quarter of 2021, valued at $187.6 billion, increases of 88% and !33% respectively from a year earlier,” according to Payments Post. Motivating Americans to use Same Day ACH has created an addiction for speedy payments which may push payments over 600 million this year.