John O'Connor Joins Newtek Merchant Solutions as Chief Revenue Officer
Introduction to New Leadership at Newtek Merchant Solutions
NewtekOne, Inc. (NASDAQ: NEWT), known for its comprehensive business solutions, is thrilled to announce the appointment of John O'Connor as the Chief Revenue Officer for its payment processing subsidiary, Newtek Merchant Solutions (NMS). This strategic hiring aims to bolster NMS's position in the marketplace by enhancing its outreach to merchant processing clients.
John O'Connor's Experience and Vision
With an impressive background in the financial technology sector, Mr. O'Connor brings over 30 years of experience to his new role. Most recently, he served as the Chief Growth Officer at Nationwide TFS, LLC, a major player in the electronic payments landscape for the Chapter 13 bankruptcy industry. While at Citigroup, he held several leadership positions focused on marketing program direction and execution, solidifying his expertise in driving business growth.
Focus on Merchant Processing Clients
In his new position, Mr. O'Connor will prioritize creating awareness among current and prospective clients about the diverse range of financial solutions provided by NewtekOne. These include fee-free business checking and savings accounts that offer attractive interest rates. His core responsibility will also involve facilitating a seamless transition for existing clients into utilizing Newtek's Advantage technology, which integrates merchant processing with banking solutions.
Strategic Goals for NMS
Barry Sloane, President, Chairman, and CEO, expressed confidence in O'Connor's abilities to drive growth in the number of business deposit accounts and average deposit balances. With NMS's current processing volume exceeding $5.5 billion, the team is poised to tap into a substantial market of over 30 million independent businesses across the United States.
Enhancing Client Value with Innovative Solutions
John's expertise aims to highlight the benefits of Newtek Bank's zero-fee business banking model. Clients will have quicker access to their funds and enhanced transparency regarding transactions, refunds, and chargebacks through the unique Newtek Advantage portal. These features not only provide greater value to clients but also reduce acquisition costs for Newtek.
Welcoming an Industry Leader
Mr. O'Connor shared his enthusiasm about joining NewtekOne, noting the unmatched customer solutions and visionary leadership. His commitment to furthering the company's mission of serving independent business owners reflects a deep understanding of the challenges they face and the essential support they require.
About NewtekOne, Inc.
NewtekOne is a financial holding company that offers a comprehensive array of business and financial solutions tailored for independent business owners. Since its establishment in 1999, Newtek has empowered business owners with state-of-the-art products and strategies that lead to revenue growth while controlling expenses and limiting risks.
Comprehensive Solutions Breakdown
The solutions provided by NewtekOne encompass various areas, including banking services, business lending, electronic payment processing, and technology solutions. By continually evolving its offerings, NewtekOne ensures that its clients are equipped with the necessary tools to thrive in a competitive environment.
Conclusion
As Newtek Merchant Solutions embarks on this new chapter under John O'Connor's leadership, the organization is well-positioned to enhance its service offerings and achieve significant growth in the payment processing sector. With a focus on client satisfaction and innovative solutions, Newtek is set to be a formidable force in business solutions.
Frequently Asked Questions
Who is John O'Connor?
John O'Connor is the newly appointed Chief Revenue Officer for Newtek Merchant Solutions, bringing over 30 years of industry experience.
What will O'Connor focus on in his new role?
He will focus on enhancing client awareness of Newtek's financial solutions and driving growth in business deposit accounts.
What is Newtek Merchant Solutions?
Newtek Merchant Solutions is a subsidiary of NewtekOne that provides payment processing services to businesses.
How does Newtek differentiate itself from competitors?
Newtek offers zero-fee business banking solutions and a robust integration of merchant processing with banking services.
What is the significance of Newtek's Advantage technology?
It enhances client interaction, providing transparency and faster access to funds through an innovative portal.
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