South Florida Tech HubSouth Florida Tech Hub

By Nikki Cabus

Citi Ventures Backs Capstack Technologies, the First Integrated Bank-to-Bank Loan Marketplace

Read Time 3 Minutes

Miami-based Capstack Technologies has secured a $6 million strategic investment from Citi Ventures, marking a significant milestone in its mission to revolutionize banking technology.

Capstack Technologies is building the first integrated bank-to-bank loan marketplace, enabling cooperation across banks and financial services institutions to increase profitability and mitigate risk through asset diversification. The company, founded by Pipe co-founder Michal Cieplinski, is dedicated to building a sophisticated infrastructure to redefine banking operations, enhance risk management, and deliver cutting-edge solutions for small and medium-sized banks. Capstack Technologies is backed by world-class investors, including Citi Ventures, Fin Capital, Alloy Labs, Cambrian Ventures, Cowboy Ventures, Future Perfect Ventures, Gaingels, Selah Ventures, Uncorrelated Ventures and Valor Equity Partners.

Amidst a challenging investment climate, this $6 million in funding is a testament to Capstack Technologies’ innovation following their successful $6 million fundraising last summer. This investment coincides with establishing a high-profile advisory board and adding experienced executives from community and regional banks, propelling Capstack Technologies into a new era of growth and market leadership.

“Citi Ventures is committed to investing in companies that have the potential to drive our industry forward,” said Jeff Flynn, Director, Citi Ventures. “Capstack Technologies’ innovative approach could fundamentally change the way smaller banks manage risk and grow their businesses, and ultimately could create opportunities for Citi to engage differently with this sizable segment of the financial services ecosystem.”

Capstack Technologies is leading the way with its “first bank-to-bank marketplace,” promoting transparency, collaboration, and efficiency among small and medium-sized banks. This initiative aligns with the U.S. financial sector’s imperative to reduce concentration risk, as highlighted by such risks in Silicon Valley Bank and other failed banks. Notably, the U.S. was home to 4,123 community and regional banks in 2023, comprising nearly 97% of all banks and collectively overseeing assets valued at $3.4 trillion.

“Securing this strategic investment from Citi Ventures, forming a distinguished advisory board, and welcoming experienced executives from community and regional banks collectively mark a pivotal moment for Capstack Technologies,” stated Michal Cieplinski, CEO of Capstack Technologies. “These milestones validate our vision and accelerate our mission to revolutionize banking technology for the community.”

Formation of the Advisory Board

Capstack Technologies has formed an advisory board comprising industry veterans Trey Maust, Chairman of Lewis & Clark Bancorp, Patrick Kennedy, Executive Chairman of TransPecos Banks and Dub Sutherland of Kennedy Sutherland LLP. These advisors bring a wealth of experience in banking, law, and financial technologies, guiding Capstack Technologies’ strategic direction in the banking sector.

“As a member of the advisory board for Capstack Technologies, I am deeply impressed by the caliber of talent and expertise we have assembled to guide this groundbreaking technology,” expressed Kennedy. “Having the right people involved is crucial in steering such innovative solutions. The experiences and insights our team brings are essential in shaping a technology that has the potential to redefine the banking sector.”

New Executives

Capstack Technologies is also bolstering its leadership team with David McArdle as Head of Banking Relationships and Randy Riffle as Head of Customer & Platform Operations. McArdle, with his extensive experience in banking and fintech, will focus on streamlining processes for C-suite executives in community banks. With his extensive credit and lending background, Riffle will lead the charge in transforming operational efficiencies and focusing on positive customer experiences.

“To contribute to an organization at the forefront of such a transformative movement within the banking sector is inspiring,” said Riffle. “The advent of this technology epitomizes the requirement of all bank sizes to create efficiencies in the participation and whole loan marketplace model.”

“This moment is pivotal for Capstack Technologies, as we’ve successfully secured strategic funding from Citi Ventures, assembled a formidable advisory board, and significantly enhanced our leadership team,” concludes Cieplinski. “These steps are a clear testament to our unwavering commitment to innovation and underscore our growing significance in the current investment climate. We are not just making strides but setting new standards in the banking technology sector.”

To learn more about Capstack Technologies, visit www.capstack.ai

By Nikki Cabus

Greenberg Traurig adds former partner in Ballard Spahr LLP’s Consumer Financial Services Practice

Read Time 4 Minutes

Global law firm Greenberg Traurig, LLP continues to expand its Financial Regulatory & Compliance Practice with the addition of Lisa M. Lanham as a shareholder.

Lanham was formerly a partner in Ballard Spahr LLP’s Consumer Financial Services Practice and co-led the firm’s Fintech and Payment Solutions Team. She brings more than a decade of experience handling state licensing and regulatory compliance matters, helping clients in the consumer finance space obtain the necessary approvals to bring various new fintech products to market.

“Lisa brings extensive experience handling complex consumer finance matters for companies of all sizes and managing their state and regulatory compliance requirements from start to finish,” said Marina Olman-Pal, co-chair of Greenberg Traurig’s Financial Regulatory & Compliance Practice.

“As we continue to grow the practice and serve as a preeminent shop for financial regulatory and compliance matters, Lisa’s skillset and working relationships with key regulators will complement the practice and serve as a vital asset to our team. I look forward to working closely with Lisa to provide our clients with a broad scope of services to meet their business needs.”

Lanham’s diverse range of clients includes residential and commercial mortgage brokers, lenders, servicers, loan fulfilment providers, student, consumer, and solar loan lenders and servicers, marketplace lenders, and entities offering retail installment contracts for consumer goods. Moreover, she advises investors engaged in secondary market activities. Lanham also extends her support to emerging fintech firms, helping them comply with necessary state licensing requirements and develop products that meet regulatory demands.

Greenberg Traurig recently expanded its Financial Regulatory & Compliance Practice with the addition of former fintech state regulator Shane Foster in Phoenix. This follows on the heels of last year’s new hires of financial regulatory-focused attorneys Hilary R. Sledge-Sarnor in Los Angeles and Tim Dolan and Sierra M. Taylor in London.

Greenberg Traurig’s Financial Regulatory and Compliance Group has wide-ranging experience assisting national, regional and local clients in a variety of matters affecting the financial services industry. The national team of skilled attorneys works with clients as they face regulatory, litigation, legislative, supervision, examination, licensing, compliance and governance matters. Greenberg Traurig’s regulatory attorneys regularly advise banks, broker-dealers, investment advisors, mortgage lenders and servicers, payday lenders, consumer finance companies, registered and private investment funds, debt collectors and other financial institutions in complying with state and federal regulatory requirements and interfacing with governmental agencies.

“As regulations on both a national and state level continue to rapidly evolve, our team is at the forefront of the latest developments, providing clients with up-to-date legal counsel and assisting them in a variety of matters affecting the financial services industry,” said Jaret L. Davis, senior vice president of Greenberg Traurig.

Greenberg Traurig recently expanded its Financial Regulatory & Compliance Practice with the addition of former fintech state regulator Shane Foster in Phoenix. This follows on the heels of last year’s new hires of financial regulatory-focused attorneys Hilary R. Sledge-Sarnor in Los Angeles and Tim Dolan and Sierra M. Taylor in London.

“We have seen an increasing demand for these legal services, and by adding Lisa to our already strong team, we will be able to further enhance our ability to meet clients’ regulatory needs,” continued Davis.

Lisa Lanham was recognized in 2023 by The Financial Times as one of North America’s Innovative Lawyers for her involvement in the creation of an innovative technology platform for clients to manage their licensing portfolios. This technology application handles licenses and regulatory obligations for consumer financial services clients, with dashboards and checklists to help clients navigate licensing requirements and filing deadlines for each state. The application is run by a team of lawyers who respond to any legal queries from clients.

“I am thrilled to join Greenberg Traurig’s well-established financial regulatory and compliance team,” Lanham said. “With a strong presence in the financial services market, its global platform, and commitment to entrepreneurship, Greenberg Traurig was the ideal place to grow my practice and expand the services that I can provide clients. I also look forward to working with Marina to expand the capabilities of the technology application to serve a broader group of clients.”

Lanham will represent clients globally, working from the firm’s New York and Miami offices. She is admitted to practice in New York and Pennsylvania, and not admitted to practice in Florida. Lanham earned her J.D., cum laude, from the University of Miami and her A.A.S., B.A. from New York University.

Greenberg Traurig’s Corporate Practice comprises more than 600 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.

By Nikki Cabus

Fiserv now on NYSE; new ticker celebrates company’s commitment to leading fintech innovation

Read Time 3 Minutes

Just last week, Fiserv, Inc. announced that it has completed the transfer of its stock exchange listing to the New York Stock Exchange.

Effective June 7th, the company began trading under the ticker symbol “FI.” To honor the occasion, Frank J. Bisignano, Chairman, President and Chief Executive Officer, rang The Opening Bell® at 9:30 am EST alongside other representatives if Fiserv. You can watch the video clip here.

“We’re thrilled to welcome Fiserv, an established leader and trailblazer in fintech and payments, as the newest member of our NYSE community,” said Lynn Martin, NYSE President. “Fiserv joins our community of innovators, icons and disruptors, who routinely set the pace in advancing tech-driven innovation across the globe.”

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™.

“To lead in fintech today means not just enabling commerce and money movement, but disrupting on behalf of, not in place of, its long-standing participants. Our decision to transfer to the NYSE and introduce a new ticker – FI – is a signal and symbol of our leadership position in fintech,” said Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv.

“Our focus on clients through innovation, talent, and investment has enabled us to drive sustained growth, as we reach more than 100 countries and serve nearly 100% of U.S. households.”

To mark its initial collaboration with the NYSE, this summer, Fiserv will publish the first Fiserv Small Business IndexSM, a monthly snapshot of consumer spending at small businesses with both cards and cash, online and in store. Combining Fiserv data with NYSE indexing expertise will enable new insights to those with a stake in the future of small business, including financial institutions, policy makers, investors, market researchers and businesses of all sizes.

With a satellite location in Coral Springs, Fiserv has been very involved in supporting the local small business community through their international Back 2 Business program. Fiserv has committed $50 million to help Black- and minority-owned small businesses get Back2Business through grants, coaching, and access to technology and networking opportunities.

Fiserv committed $50 million to help black and minority-owned small businesses get Back2Business through grants, coaching, and access to technology and networking opportunities. This number has continued to grow. Since 2020, more than 1,600 Black- and minority-owned small businesses across the U.S. and U.K. received grants and support to keep serving their communities.

On June 5, 2023, Fiserv was named to the FORTUNE® 500 for the eighth consecutive year. The ranking of 230 for 2023 is based on 2022 company revenue of more than $17 billion. Earlier this year, Fiserv was also recognized for its ability to inspire and deliver innovation on behalf of its clients with inclusion in Fortune® America’s Most Innovative Companies, which takes a holistic view of a company’s focus on innovation. Companies were chosen based on surveys of employees and experts in various fields, and an independent analysis of the quantity and value of the company’s patents.

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Citi Ventures Backs Capstack Technologies, the First Integrated Bank-to-Bank Loan Marketplace
Greenberg Traurig adds former partner in Ballard Spahr LLP’s Consumer Financial Services Practice
Fiserv now on NYSE; new ticker celebrates company’s commitment to leading fintech innovation