MONTVALE, N.J., Jan. 24, 2019 /PRNewswire/ -- The Money Services Business Association, Inc. (MSBA), a US-based trade association for the non-bank money services industry, has elected four new Board Members for the 2019 – 2021 term.

Kathy Tomasofsky, Executive Director of the MSBA, said: "We are very excited to continue to broaden the Board with business leaders who represent different business models, offer a variety of products and operate across multiple corridors." 

"We are grateful to the existing Board Members, who founded the Association and continue to make a huge contribution. The new Board members will join them to support the Association's work with members, regulatory agencies that supervise our businesses in the United States and abroad, member and non-member banks, and legislative authorities." 

The MSBA is currently comprised of 75-member companies specializing in a wide range of non-bank money solutions, from payment card issuers and distributors to digital international remittance services. Last year, the Association integrated the National Money Transmitters Association (NMTA) into its operations and welcomed the Regional Money Services Business Association members.

The Board and MSBA members will continue to increase awareness of the critical services provided by the non-bank money services industry, with the aim of encouraging continuous, safe innovation and improving the environment for the provision of banking services to the money services business industry.

The money services business industry handled $1.24 trillion in 2017, according to the MSB Call Report data released by CSBS. The World Bank reported that the annual volume of remittances (international money transfers) grew to almost $689 billion in 2018, with $68 billion outflowing from the United States.

New Board Members:

Jani Gode, CAMS, CFCS, Chief Compliance Officer of Payoneer
Laybaa Hernandez, CAMS, CFE, Chief Operating Officer of DolEx Dollar Express, Inc.
Ajit Paul, Director of Moneydart Global Services, Inc. DBA Xpress Money
Erick Schneider,  Commercial Vice President at WorldRemit

Current Board Members:

Paul S. Dwyer, Jr. , CEO Viamericas Corporation. MSBA Chairman
Fernando Fayzano, CEO Pontual Money Transfer
Aurora Garza-Hagan, CEO, BBVA Transfer Services, Inc.  
Ran Grushkowsky, President and Co-Founder, WireCash
Nicole Ibbotson, SVP and General Counsel, InComm Financial Services, Inc
Suresh Ramamurthi, CEO, Yantra Services
Jorge Raull, CEO, Transnetwork Corp. 

For additional information on the Association and to become a member, please visit: www.msbassociation.org 

About the MSBA

The Money Services Business Association, Inc. or MSBA is a national trade association focused on the non-bank money services industry, including licensed money transmitters their agents/authorized delegates, payment card issuers and distributors, payment processors, international remittance companies, bill payment companies, mobile payment application providers, money orders, payment aggregators, virtual currency exchanges and administrators, eWallet providers and other similar money services providers that are engaged in payments.

SOURCE Money Services Business Association, Inc.

Related Links

https://www.msbassociation.org/