MDC Welcomes Digital Banking Leader Ned Tobey as New CEO
Members Development Company (MDC), known for its commitment to advancing credit union success, has appointed Ned Tobey as their new CEO. Previously serving as the Chief Product Officer of Digital Banking at NCR, Tobey brings a wealth of experience in the fintech industry. His leadership is expected to steer MDC towards innovative pathways and enhanced operational strategies.
Transformative Leadership in the Fintech Sector
With a flourishing career spanning nearly two decades in fintech, Tobey has been recognized repeatedly for his contributions. Notably, he developed SimpliFi, the first SEC-certified online banking platform, which won accolades such as the Finovate Best-in-Show Winner and was named one of Fast Company's Most Innovative Financial Companies. His journey saw the successful sale of SimpliFi to Q2 Digital Banking Solutions, where he contributed significantly to the company’s growth during its initial public offering.
Throughout his time at Q2, Tobey achieved a remarkable 35% year-over-year growth. His recent tenure at NCR reinforced his capability as a pioneer in digital banking technology.
Vision for Credit Unions
As Tobey steps into the role at MDC, he expresses excitement about the potential for transformative growth within the credit union sector. “I’m honored to have the confidence of the Board of Directors at MDC,” Tobey stated. He is eager to explore opportunities for credit unions to expand their business operations with innovative tools and strategies. His vision includes a close partnership with credit union owners to identify effective solutions for future success.
Thorough Search for Leadership
The selection of Ned Tobey follows a comprehensive search initiated after the retirement announcement of the previous CEO, Jeff Kline. MDC collaborated with Modern Executive Solutions, an executive search firm, to identify candidates who align with the organization's long-term goals. This strategic approach ensured they found a leader who embodies the aspirations of MDC and its owners.
Board's Confidence in New Leadership
Kevin Johnson, MDC’s Board Chairman, emphasized the careful consideration that went into Tobey's selection. “After looking at his esteemed career and leadership style, we are sure that Ned is the perfect person to lead this organization,” stated Johnson. He believes that Tobey's profound understanding of modern digital banking will be pivotal for both MDC’s growth and that of its credit union partners.
About Members Development Company
MDC operates as a vital engine for research and development in the credit union sector. Focused on the needs of over 80 credit union and CUSO owners, MDC conducts comprehensive research and evaluates future challenges to deliver meaningful and cost-effective solutions. The organization prides itself on collaborating with its members, ensuring that their insights shape the direction and impact of research outcomes.
By actively involving credit unions and CUSOs in the development process, MDC not only provides valuable resources but also fosters a partnership that maximizes returns on innovation and exploration. This collaborative spirit ensures that their research initiatives are always relevant and beneficial to the community they serve.
Frequently Asked Questions
Who is Ned Tobey?
Ned Tobey is the newly appointed CEO of Members Development Company (MDC), previously serving as Chief Product Officer of Digital Banking at NCR.
What does MDC stand for?
MDC stands for Members Development Company, a network dedicated to enhancing the success of credit unions through research and development.
What are Tobey’s plans for MDC?
Tobey aims to leverage his digital banking expertise to identify growth opportunities for credit unions and enhance their technological capabilities.
Why did MDC choose Tobey as CEO?
The board selected Tobey due to his extensive background in fintech, innovative approach, and proven track record of driving growth in prior roles.
What role does MDC play for credit unions?
MDC serves as a research and development hub for credit unions, offering tailored solutions and collaborative opportunities to address industry challenges effectively.
