Atlanta, GA – January 6th, 2016 – Ingo Money, Inc. today announced that H. Eugene (Gene) Lockhart, former President and CEO of MasterCard Worldwide, has joined its Board of Directors. Lockhart will help the fast funds provider rapidly scale to serve its growing base of bank and non-bank financial services companies and consumer, micro-merchant and small business customers.
“Ingo Money addresses a pressing, but often overlooked problem for hundreds of millions of individuals and small businesses – the funds delay and default risks associated with more than $20 trillion in checks issued annually,” said Lockhart. “I am excited to work with Ingo’s veteran leadership team to build on their success and extend its guarantee of instant funds access to even more Americans.”
Lockhart is currently a Special Advisor to General Atlantic, a leading global growth investment firm, working to identify important global investment themes in financial services, developing relationships with high-growth companies in the financial services sector and assisting in the improvement of value creation with portfolio companies. He is also Chairman and Managing General Partner of MissionOG LLC; an early stage, growth equity investment firm that specializes in investing in hyper-growth, technology oriented companies serving the financial services sector.
Previously, Lockhart served as President and CEO of MasterCard Worldwide, where he led its transition to a for-profit enterprise and as President of the Global Retail Bank at Bank of America, leading the retail and commercial banking businesses globally until its sale to NationsBank. He also served as a successful private investor and advisor to several private equity firms, focusing on high-growth financial services technology companies, traditional banks, and non-bank financial providers.
“We are honored to welcome Gene to our Board,” said Ingo Money CEO Drew Edwards. “His fingerprints are all over many of the financial services innovations we take for granted today. We are excited about his joining our fight to digitize the more than $20 trillion consumer paper check industry.”
Lockhart has also served on many public company boards including First Republic Bank, RJR/Nabisco, Huron Consulting, Cognizant, IMS Health and RadioShack. An early innovator and leader in the global payments industry, Gene has also served on the boards of many payments enterprises including APACS, CHAPS, SWIFT, and Europay, and he has participated on several commissions in the US and Europe focusing on payments infrastructure and security.
Fellow Ingo Money Board members include Chairman John W. Collins, CEO of Progeny Management; Drew Edwards, CEO of Ingo Money; Bailey P. Robinson, former CEO of Wright Industries; Shane Kim, partner and managing member of Camden Partners; and Vince Talbert, CEO of GiveCorps.
About Ingo Money
Ingo™ Money transforms deposits for the 138 million American consumers and 15 million small business owners that need instant access to their money by digitizing the more than $20 trillion paper check industry. The Ingo Money App, with First Century Bank, N.A., enables anyone to take a photo of a check and submit it for approval and instant funding to almost any bank account or prepaid card account. Learn more at ingomoney.com. or follow us on LinkedIn, Google+, Facebook and Twitter.