CHICAGO, July 30, 2018 /PRNewswire/ -- Spring Labs, the company behind the Spring Network—a blockchain-based network that will allow lenders, banks, and data providers to securely and efficiently exchange data with one another—today announced that it has hired identity and payments expert Peter Tapling as Chief Commercial Officer and Head of Industry Relations. This announcement comes off of the recent news that Spring Labs raised $14.75 million in Seed funding in late March, and also finalized its world-class advisory board, comprised of industry leaders such as Sheila Bair, the former Chair of the U.S. Federal Deposit Insurance Corporation (FDIC), and Nigel Morris, Co-Founder and former long-time President of Capital One.
Tapling was most recently the Chief Revenue Officer of Early Warning Services, LLC, a payment and risk solutions provider best known for ZelleTM, the real time P2P payment service offered directly by financial institutions. He will be responsible for overseeing Spring Lab's network development, industry awareness, partnerships and commercialization. Tapling is a proven leader in the identity and payments industry, having also founded Authentify, a multi-factor authentication services provider, which was acquired by Early Warning Systems in 2015. He will report directly to CEO and Founder of Spring Labs, Adam Jiwan, and will be based in Spring Labs' Chicago office.
"The rapid development of digital offerings in financial services is frequently in conflict with concerns related to privacy, data security and currency of information," said Tapling. "Spring Labs is employing blockchain technology to develop a platform that addresses a pain point for financial institutions while solving societal-scale industry problems. I'm excited to join a company utilizing this technology to create real economic impact."
Spring Labs was founded by members of the founding team and board of Avant, a lending platform and technology company that has served more than 600,000 customers and originated nearly $5 billion of loans through the Avant platform. Through building Avant, the Spring Labs team witnessed firsthand the misaligned incentives and security problems of today's credit and identity ecosystem. The company aims to revolutionize the credit and identity sharing process through a decentralized network that enables a more transparent, efficient and secure model for sharing information related to identity and credit.
"Peter brings a wealth of experience at the intersection of financial services and technology from his background as CRO at Early Warning Services and previously as Founder and CEO at Authentify," said Jiwan. "In particular, Peter's knack for understanding the pain points of major financial institutions and addressing those issues with innovative, network-driven approaches like Zelle at Early Warning make him a perfect fit for leading the growth and development of Spring's network of partners."
About Spring Labs
Spring Labs (Springcoin Inc.) is a technology company with offices in Los Angeles and Chicago and is the core maintainer of the decentralized Spring Network, a blockchain based network that will be created to enable financial institutions and data providers to share data and underlying beliefs about credit and identity information. Spring Labs was founded in 2017 and has raised $14.75mm in capital to-date. To learn more, visit SpringLabs.com.
SOURCE Spring Labs