Dallas, TX – April 30, 2015 – Giact Systems, LLC (Giact), a leading provider of risk management solutions for electronic payments and Know Your Customer (KYC) requirements, today announced that John D. Chaney, former Chairman and CEO of TeleCheck Services, has joined Giact’s advisory board as a Senior Advisor. Mr. Chaney joins Siddharth “Bobby” Mehta, former President and CEO of TransUnion and Chairman and CEO of HSBC Finance Corporation and HSBC North America Holdings, on the board effective immediately.
“Adding Mr. Chaney as a Senior Advisor is another indication of our continued commitment to empower our clients with the best risk management tools and services,” said Melissa Brown, CEO of Giact. “Mr. Chaney has helped companies combat fraud over many decades, and we are excited about the impact he will have as we identify new ways to expand our leading solutions.”
As Co-Founder of TeleCheck Services, Mr. Chaney built an industry-leading company that provided check acceptance, processing, and risk analytics services to merchants and financial institutions. He served as Chairman and CEO of the company for two decades, building a national, multi-hundred-million-dollar company, which he sold to First Data Corporation (FDC) in 1992. Mr. Chaney continued his career with FDC as a group President until 1999. He later served as CEO of PreCash, a provider of payment services to more than 3 million consumers moving nearly $3 billion in payments annually, and he remains on the board as Chairman of the Compliance Committee.
“I am thrilled to join the team at Giact and to share the insights and industry knowledge that I have developed over many years of helping companies manage the risk of accepting payments and of underwriting new customer relationships,” said Mr. Chaney. “Giact is a true leader with must-have information and powerful analytics. It’s exciting to see the breadth and performance of their solutions with plans for further innovation.”
Giact recently announced a majority investment by Tritium Partners to help management accelerate the Company’s impressive growth. Recent additions to the Giact team also include Holly Merrill as Chief Communications & Advocacy Officer and Benjamin Guion as Chief Financial Officer. Ms. Merrill holds an AAP (Accredited ACH Professional) certification from NACHA, and she has also served as a Director on the national boards of both NACHA and NOCH. Mr. Guion is an experienced banking executive who previously served as Chief Financial Officer of New Dominion Bank. As CFO at a predecessor bank of SouthTrust, Mr. Guion helped grow the bank’s North Carolina operations to more than $2 billion in assets and 39 branches. Giact has also been adding significant resources to its account management and development teams.
About Giact Systems
Giact Systems (www.giact.com) is a privately held company founded in 2004 by a team of experienced payments, security, and technology experts. We provide information services that help businesses across all industries assess and manage risk in electronic payments and Know Your Customer (KYC) requirements. We prevent fraud and minimize bad debt with our industry leading solutions for account verification, authentication, and funds confirmation. Our customers are able to safely accept payments and new customers in confidence while increasing sales and decreasing transaction costs. We currently service more than 1,000 customers and have helped process and verify over 1 billion transactions.