SARATOGA, Calif., May 19, 2022 /PRNewswire/ -- Leading payment applications platform provider, Zact, has named Abraham Sofaer to its Board. Sofaer's six decades of distinguished legal and policy service strengthens Zact's position as a secure and compliant bank-grade platform for banks and brands. Sofaer brings to Zact his experience as a federal prosecutor, trial judge, State Department Legal Adviser, arbitrator, and corporate board member, along with a global network and expertise in the Legal, Security, and Governance sectors.
"Having Abe join our board is significant for Zact," said CEO John Thomas. "His knowledge of legal frameworks, his large network of associates and partners, his experience, and his ability to lead, make him an ideal candidate for Zact's board" he added.
Zact is a special presence in the expanding landscape of payments and spend management because of its investments in security and compliance, resulting in its attainment of PCI DSS as well as Soc-1 and Soc-2, Type I and Type II, certifications.
According to Zact Board Chairman Harold Hughes, "Our focus on offering a unique and powerful platform to our customers has always been based, in large part, on the configurability of our systems and our focus on compliance, security, and proper governance. The payments business demands the highest-grade in these areas. Abe Sofaer's broad knowledge in these areas and his leadership will be a boon to Zact at this stage of our journey."
Sofaer's policy and advocacy work brought him to the Hoover Institution where he has been since 1994 the George P. Shultz Senior Fellow in diplomacy and national security. "Zact's proposition, platform, and team drew me in from day one," said Sofaer. He continued, "Worldwide, payments and spend management is one of the largest business flows by sheer volume. Yet, many of the antiquated products and processes fail to take full advantage of new technologies to improve services and performance. Zact aims to remedy that with its superb and flexible platform, and I am excited to be part of a creative and visionary team determined to be part of the solution."
Sofaer joins Zact's board during a phase of broadening brand awareness and deeper industry engagement. The company continues its rapid customer growth, adding more than a dozen banks, as well as numerous brands employing Zact APIs to create their own customized experiences.
SOURCE Zact
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