Integrion Financial Network Announces Leadership Succession Plan Company Positioned for Future as IFS Platform Exceeds One Million Users
PHILADELPHIA, Sept. 14 /PRNewswire/ -- Integrion Financial Network announced today a new management structure that will lead the electronic financial services organization into the next millennium. Focusing on an environment where strategic vision and operational excellence are paramount for success, Integrion will look to two seasoned executives, Maurice D. St. Jean and Christopher F. Schellhorn, to lead the company when William M. Fenimore, Jr., ends his planned three year tenure as Managing Director and CEO at year-end.
This announcement coincides with Integrion's Interactive Financial Services (IFS) platform crossing over the one million subscriber mark. Integrion has been averaging more than 85,000 new users per month consistently for the last several months. Focused on leveraging this continued growth, Messrs. St. Jean and Schellhorn will together comprise a newly created Executive Management Office that will report to the Integrion Board of Managers.
The Integrion Executive Management Office will equally divide the duties of company leadership. Mr. St. Jean, who most recently served as Vice President, Delivery Channel Strategies and Strategic Alliances, at Royal Bank of Canada, will assume the position of Managing Director and will be responsible for all strategic functions of Integrion, including technology and product development, sales and marketing, strategic alliances and finance. Mr. Schellhorn, who became Integrion's Chief Operating Officer in June, will take responsibility for all Integrion operations, implementations, bank relationship management and critical vendor relationships, insuring the ongoing reliability of the Integrion systems.
In a related move, David S. Fortney, currently Director of Product Development, will become Chief Development Officer, responsible for all technology and product development, from concept to introduction for Integrion.
Created by a group of North America's leading banks and IBM, Integrion named William M. Fenimore, Jr. its founding CEO in 1996. Mr. Fenimore led the evolution of the Integrion organization from concept to reality, managing the development of the Interactive Financial Services (IFS) platform that now services over one million subscribers. With this critical first phase of growth accomplished, Mr. Fenimore will leave the company at year-end on a high note to spend more time on personal interests and family.
James D. Dixon, Group Executive for Technology and Operations at Bank of America and a member of Integrion's Board of Managers, said, "Bill Fenimore brought a depth of experience and a strong understanding of the financial services industry to the Integrion organization at its critical development stage. His contributions have established a stable foundation from which to build. As Integrion moves forward as a rapidly growing operating company, we have tremendous confidence in both Maurice St. Jean and Chris Schellhorn to deliver the right management formula for long term success."
Mr. Fenimore said, "Our goal was to create a shared operating infrastructure for financial institutions to allow their consumers to use the Internet to conduct their banking electronically. I'm confident that the Integrion solution will be the most effective model as the electronic financial services industry continues to evolve. In Maurice and Chris we have experienced individuals that our member banks can count on to lead Integrion through the next stage of expanded services and increasing volume."
Mr. St. Jean, a native of Toronto, joined Royal Bank of Canada in 1972. He rose through the ranks to become Manager, Service Quality and Market Research, for the institution's corporate banking division worldwide in 1988. As Vice President of Delivery Channel Strategies and Strategic Alliances, Mr. St. Jean led the bank's activities in new electronic delivery services and strategic partnerships. He was active extensively in electronic commerce strategies and initiatives and is a recognized leader in this arena globally. He also has served as a board member of Integrion and MECA Software.
Prior to joining Integrion, Mr. Schellhorn served as President and Chief Operating Officer of Visa Interactive, where he led the effort to build an end-to-end electronic banking and bill payment service. With over 23 years of experience in the electronic commerce industry, Mr. Schellhorn previously held management positions as Vice President and General Manager of International Verifact, Executive Vice President of Market Image Systems, and Senior Vice President of Wegmans.
Mr. St. Jean said, "As a founding member and director of Integrion, it has been extremely gratifying to watch Bill Fenimore and his team turn our original strategic vision of a shared industry solution into reality. I am very excited about the opportunity to build on and expand the value proposition for our member banks and their customers. Chris and I will move aggressively to create more e-commerce opportunities to strengthen financial services relationships for banks and their customers. Integrion has had a major impact on the strategic evolution of electronic financial services and will continue to increase that influence for our industry's behalf. Phase I is complete and an exciting future lies ahead."
Mr. Schellhorn said, "As we proceed to growing our subscriber base beyond a million customers, ensuring that the Integrion solution continues to be a rock-solid, reliable platform for our banks will be our number one priority. This has been a vision that will transition seamlessly from Bill Fenimore to us. Maurice and I will focus on the task of expanding our range of electronic financial services to an ever-growing number of online banking customers. We're looking forward to driving the online banking revolution over the next several years through operational excellence and state-of-the art solutions that leverage the infrastructure that we have created."
About Integrion
Servicing over 1 million online subscribers on behalf of top U.S. financial institutions, Integrion Financial Network is a leading provider of interactive banking and electronic commerce services to US financial institutions. Through the Interactive Financial Services (IFS) platform, Integrion offers financial institutions a network through which electronic transactions flow from multiple consumer access points to a bank's host system and/or processor. Technology partnerships with IBM and CheckFree Corporation allow for the delivery of flexible, high-utility applications that can be employed at a financial institution for the benefit of end customers.
Integrion's operating philosophy allows banks to determine the manner and format in which home banking and electronic commerce services are offered, ensuring consistency with the bank's full range of services, effective branding by the bank and maximum customer benefit. For more information, visit the Integrion web site at integrion.net.
SOURCE Integrion Financial Network
CO: Integrion Financial Network
ST: Pennsylvania
IN: FIN
SU: |
