Fynanz Strengthens Management Team with Addition of Industry Veterans

NEW YORK, Jan. 19, 2011 /PRNewswire/ -- Fynanz, Inc., the financial technology company that develops customized private student lending solutions and powers the cuStudentLoans.org private student loan marketplace, has announced that Raymond Dury and Kailash Mathur have joined as Chief Information Officer and Senior Vice President of Operations respectively, further expanding the company's expertise in the financial services and student lending industries.

Raymond Dury, who brings more than 18 years experience in global financial services, including corporate and retail banking, capital markets, merchant processing and brokerage services, is responsible for defining IT strategy, developing products and services, managing technical systems, and leading process improvement and organizational transformations. Most recently, Dury was the EVP and CIO for Fifth Third Bank, where he led application development, IT infrastructure and shared services for the bank. Dury, who is a past recipient of the CIO Forum's Financial Services Executive award and the Salomon Smith Barney's CIO of the Year award, is also a Certified Public Accountant and holds a Bachelor of Science degree from Franklin University.

Kailash Mathur, a seasoned veteran of the student lending industry, brings over 20 years experience to the Fynanz team, including product development, risk pricing, underwriting processes, origination platforms, and third-party agreements and relationships. Mathur, who started his career at the Pennsylvania Higher Education Assistance Agency, was most recently the Chief Operating Officer of Campus Door, where he was instrumental in developing the company from its inception into a successful private student loan origination platform that was subsequently acquired by Lehman Brothers in 2006. Mathur holds a Bachelor of Science in Business Administration from Chadwick University.

"Fynanz, with the addition of Raymond Dury and Kailash Mathur, continues its commitment to cutting-edge technology and industry leading expertise in student lending," said Vince Passione, CEO of Fynanz. "We're pleased to attract the caliber of talent that these two gentlemen bring to such key positions within our company," continued Passione.

The addition of Dury and Mathur to Fynanz comes with the departure of two members of the founding team. Chirag Chaman, President and Co-Founder, who was responsible for defining company growth strategy since its early days as a peer-to-peer lending platform, has departed the company to seek new ventures but will remain on the Board of Directors. Hing Loi, Senior Vice President of Finance, has also left the company to pursue other opportunities.

About Fynanz

Fynanz, Inc. is a leading technology provider of custom private student lending programs and turn-key solutions. Fynanz pioneered innovative technology that easily puts lenders into the private student lending business without the need to purchase or install any software. This end-to-end integrated solution includes complete origination, underwriting, servicing and marketing. Fynanz also powers cuStudentLoans.org, the leading private student lending marketplace, currently serving credit unions across the country. For more information, call (800) 881-8985, or visit www.fynanz.com.

SOURCE Fynanz, Inc.