LendKey Appoints Joe Proto to its Board of Directors

Company grows Board of Directors in concert with new banking-as-a-service innovations, lending momentum, and strong first-half financial performance

NEW YORK--(BUSINESS WIRE)--LendKey, the fintech company on a mission to make lending simpler, announced today the appointment of Joe Proto, EVP Senior Advisor at Mastercard, to its Board of Directors. Proto currently serves on LendKey’s advisory board and is Chairman for Dade Systems, a leading fintech provider of integrated accounts receivables solutions.

A leading entrepreneur and financial technology executive, Proto brings over four decades of experience honed through the launch of several multi-million dollar tech companies. As chairman and CEO of Transactis, Proto facilitated the successful acquisition of the company by Mastercard in 2019. Prior to that, he oversaw REMITCO, acquired by First Data in 2000 and CashFlex, which was acquired by CoreStates in 1992, now part of Wells Fargo. He is also a founder of Windham Ventures, a medical technology VC.

“We’re honored to welcome Joe to our board of directors during such an exciting time for LendKey,” said Vince Passione, CEO of LendKey. “Joe is a visionary in the fintech space and has served as a trusted advisor for LendKey, supporting our mission over many years. He brings a breadth of experience that will prove invaluable as we continue to innovate and push boundaries across the lending markets where we made our name, and now with our new and continued innovations for the broader banking-as-a-service category.”

Proto joins a board that includes Ira Cohen, Operating Partner of Updata Partners, Mark Morrissette, Managing Director of North Atlantic Capital, Danny Schultz, Managing Partner of Gotham Ventures, and Josh Stein, Managing Partner of Threshold Ventures. Proto is also a member of the Association for Financial Professionals (AFP), and an advisor to the National Automated Clearinghouse Association (NACHA).

“LendKey has pioneered key approaches to banking-as-a-service, loan participations, and most recently capital management through the launch of deal network ALIRO. LendKey’s people, technology, processes, and culture are next-to-none. I look forward to working with Vince and the entire board to advance the company’s fintech solutions for the credit union, bank and marketplace customers it uniquely serves,” said Proto.

Proto joins the company on the heels of a strong first half of the year. LendKey launched ALIRO in February, a deal network for financial institutions to manage liquidity and optimize their balance sheets; reported 450% growth in applications for its Home Improvement Loan program; and, emerged from the pandemic profitable while raising an additional $220 million in lender commitments for the remainder of 2021.

To learn more and stay connected to developments from LendKey, please visit lendkey.com

About LendKey

LendKey delivers seamless technology, servicing, and support that financial institutions need to establish a strong digital lending presence and build lifetime relationships with its partners and customers. Lenders optimize their offerings by drawing upon LendKey’s demand generation, online decisioning and loan origination engines, loan servicing, compliance expertise, and proprietary balance sheet options. Founded in 2009, LendKey currently services more than $2 billion in loans on behalf of hundreds of credit unions and banks that have collectively deployed over $4 billion in education and home improvement loans. Visit lendkey.com for more information.