CROMWELL, Conn., July 05, 2018 (GLOBE NEWSWIRE) -- Payveris, creator of the cloud-based MoveMoney Platform which empowers financial institutions to take command of their customers’/members’ digital user experience, announced today the appointment of Louis Hernandez Jr., founder, managing director and CEO of private equity fund Black Dragon Capital, to its board of directors.
Hernandez is an award-winning entrepreneur who has founded and advised technology organizations ranging from startups to large publicly traded companies. Among his accomplishments is serving as chairman and chief executive officer for 14 years at Open Solutions in Glastonbury, Conn., a startup company that he rapidly grew to revenues of above $400 million.
“We are excited to have Louis on our board. His deep industry understanding, entrepreneurial vision and unmatched track record of success are important assets to keep the company at the forefront of digital payments innovation,” said Ron Bergamesca, chief executive officer with Payveris, “Few technology entrepreneurs have helped regional and community financial institutions compete effectively against the biggest banks as Louis has. We are privileged to have him bring his expertise and commitment to serving regional and community institutions to Payveris.”
Hernandez founded Payveris at a time when financial institutions were fighting to stay relevant to their customers. He hired the initial team and recruited the board of directors and investors. In addition, he provided capital from his own private equity fund Black Dragon Capital, a growth-oriented private equity fund focused on investment opportunities in digital commerce, sports and media, and financial technologies. His board appointment follows the accelerated growth over the past 18 months of Payveris, which serves more than 230 clients and partners.
“Louis’s devotion to his community, leadership and financial acumen make him a uniquely successful entrepreneur,” said Peter Longo, senior managing director of investments at Connecticut Innovations and board member of Payveris. “We are honored to invest alongside him and we welcome him to the Payveris Board of Directors. We look forward to working with Louis as Payveris continues to demonstrate significant growth in the marketplace.”
“I am thrilled to help the company continue its rapid and accelerating growth. We now have the right executive team in place with the strategic vision and operational expertise to navigate the fast-changing payments landscape and deliver innovative products and outstanding service to its clients,” Hernandez said.
“I founded Payveris to solve a critical issue regional and community financial institutions were facing—the migration of their customers to large banks and new non-bank fintech providers. With over 230 clients, the company is delivering on my vision of embracing and leveraging what makes these financial institutions unique. I am confident of the company’s long-term success,” Hernandez added.
During his tenure at Open Solutions, Hernandez was deeply involved as a leader in technology efforts in the region, serving as co-chair of the Connecticut Governor’s Council on Economic Competitiveness and Technology; chair of the governor’s Technology Transfer and Commercialization Advisory Board; and chair of the Connecticut Technology Council. He also served as a board member for Connecticut Children’s Medical Center, trustee for the Connecticut Center for Science & Exploration, vice chair for the Connecticut Commission for Educational Technology, along with many other regional activities. He was named Innovator of the Year, Entrepreneur of the Year and inducted into the Innovators Hall of Fame by leading organizations.
As the creator of the cloud-based MoveMoney Platform, Payveris empowers financial institutions to take command of their customers’/members’ digital user experience as well as their IT and payments operations, while introducing innovative money movement applications that win and retain business—today and in the future. Its integrated platform, extensible gateway API and suite of widgets support payment services from any application or device, reduce IT and operations complexity, and future-proof IT investments—all while significantly reducing out-of-pocket expenses. www.payveris.com