QRails, a financial technology company offering sophisticated processing services and other solutions to banks and the digital payments industry, has appointed its first chief executive officer to lead the next stage in its development.
Naseer Nasim joins the company from Baker Hill Solutions, a provider of risk management, CRM and business intelligence solutions to the financial services industry where he was President and CEO. Previously he was Account Processing President at Fiserv Credit Union Solutions, where he led the XP2 product line among others.
Naseer Nasim has been charged with building on the initial success of QRails to grow its customer and revenue base substantially. He brings to the role significant expertise in building and growing businesses and a strong portfolio of relationships within the financial services industry.
QRails currently services a range of clients in both North America and Europe. Having successfully proven its technology and systems in the market place, QRails plans to expand its operations to include professional sports clubs, insurance claims providers and corporate incentive programs while continuing to serve financial institutions in the US and Europe. The objective is to more than double revenue over the next 12 months.
“We believe that the market for processing payments on behalf of payment card issuers is ripe for disruption,” said Gerard Griffin, co-founder of QRails. “Incumbent processors, hamstrung by legacy systems and practices, are struggling to help their clients, financial institutions and other digital payment providers, to provide adaptable, smartphone-ready payment capability.
The need for an innovative partner such as QRails, with its developer-friendly open architecture, has never been greater. With Naseer’s tremendous experience in payment processing and other software solutions for financial institutions, and in leading high-growth businesses, we believe QRails now has the leadership it needs to move forward aggressively in both Europe and North America.”
“There is a revolution sweeping through the financial services industry, and banks and other card issuers need an innovative partner like QRails to keep up,” co-founder Laurence Molke added. “We are delighted to have found in Naseer a CEO who has the vision and the skills to rise to that challenge and make sure that QRails is positioned to be at the forefront of that change.”
Naseer Nassim added: “With Open Banking now a reality, and new entrants and new offerings challenging incumbents as never before, this is a hugely exciting time to be taking on this role in the industry. I have been impressed by what I have seen so far from the team and the technology at QRails. I am looking forward to seeing the growth of the business accelerate substantially as we roll out our platform and capability to a wider public.”
Contributed | what does this mean?