October 21, 2021
PayQwick announced today the appointment of Joe Proto to the board of directors, adding a seasoned FinTech executive, investor, and advisor with a track record of building successful companies. Mr. Proto has built multiple financial businesses serving top US banks and credit unions. As PayQwick extends its cannabis payments and banking technology to financial institutions, Mr. Proto’s experience and leadership will help make PayQwick’s “RegTech” outsourcing platform a standard for banks and credit unions that seek to serve legal cannabis operators.
Since 2015, PayQwick has provided compliant treasury and payment solutions for cannabis businesses across the supply chain. PayQwick delivers a seamless suite of services from cash pickups to receivables management, bill pay, electronic payments, real-time settlements, escrow services, and robust reporting through its proprietary platform. Mr. Proto will be instrumental in developing new relationships and capital fundraising for PayQwick.
“I am thrilled to add my long-term mentor, co-founder, investor, advisor, and friend to PayQwick’s board,” said Bob Craig, CEO. “Joe has the ability to execute on strategic vision by building deep partnerships with key institutional players. As cannabis banking evolves at the state and federal levels, Joe will help bring the fintech investing and operating community to PayQwick’s unique RegTech programs for banks and credit unions.”
“The PayQwick team has created an impressive financial services platform with the right combination of product features, flexibility, and tight regulatory compliance, now serving over 1000 licensees in the cannabis industry,” says Proto. “Banks and credit unions struggle to build scale in serving many parts of their communities. Financial Institutions outsource card issuing, mortgage lending, core processing, and more, and now those choosing to serve the legal cannabis operators have a comprehensive, compliant solution in PayQwick. I know Bob and the PayQwick team of experienced banking leaders have developed a critical solution to serve the financial needs of an exciting and growing industry.”
About Joe Proto
As a senior executive and successful entrepreneur, Joe Proto has four decades in the financial technology and banking industry. Joe built Transactis into a leading payments company serving 25 of the largest 50 banks, which Mastercard acquired in 2019. He launched REMITCO, a payments company acquired in 2000 by First Data, now part of Fiserv. He co-founded Financial Telesis (CashFlex), acquired in 1992 by CoreStates, now part of Wells Fargo. Joe also co-founded Windham Ventures (an innovation leader in med tech) and is an advisor and limited partner to several leading venture capital firms. Joe serves as chairman of DadeSystems (B2B integrated receivables) and Finexio (automated AP technology). He is a board member at LendKey (lending technology serving hundreds of credit unions and community banks), Azimuth GRC (automated compliance technology), and ActiveWorx (AP for large multi-national corporations). Joe is a member of various financial services organizations, including the Association for Financial Professionals (AFP); he serves on the National Automated Clearinghouse Association (NACHA) advisory council; and is a frequent speaker at conferences in the financial technology industry.
PayQwick provides compliant and reliable treasury and payment solutions for businesses in the cannabis industry. Our platform offers a full suite of services to streamline financial operations, from cash pickups and receivables management to bill pay and electronic payments across your supply chain. Our network connects businesses to accelerate growth. Based in Calabasas, California, PayQwick has been recognized in the LA Business Journal’s Best Places to Work in 2020. Learn more about PayQwick at www.payqwick.com.