Byline Bank Expands Payments and Fintech Banking Group to Support Embedded Payment Solutions
CHICAGO, May 12, 2025 (GLOBE NEWSWIRE) -- Byline Bank today announced the expansion of its Payments and Fintech Banking division, including several key new hires and leadership appointments, which underscore the bank's significant investment in embedded finance and modern digital payment solutions.
Since bringing on industry veterans David Prochnow and Joe Wolsfeld to lead the fintech banking group in March 2024, Byline has taken significant steps in the fintech payments arena. Prior to joining Byline, Prochnow and Wolsfeld led Fifth Third Bank's Newline embedded payments division, where they managed a portfolio of more than 100 fintech clients representing $2 billion in deposits. Together at Byline, they have built a sponsorship banking and embedded payments model centered on direct oversight, regulatory compliance and faster access to payment networks, enabling fintech clients to develop technology and custom payment solutions with confidence.
"This team represents an important evolution for Byline as we continue to invest in innovation and meet our clients where they are," said Alberto Paracchini, President and Chief Executive Officer of Byline Bank. "We're proud to bring together some of the most experienced fintech banking professionals in the industry, who not only understand the needs of fintech founders but also know how to build these programs the right way—with stability, oversight and collaboration at their core."
The team's strategy of direct, high-touch client engagement is well-timed and backed by the strength of a well-capitalized commercial bank with a history of managing complex business lines.
"Despite new competitors entering the fintech space in recent years, there has been a gap in banks that want to serve and directly engage with fintech customers," said Prochnow. "Our team at Byline knows from experience that successful fintech-bank partnerships are rooted in relationships."
To power this division, Byline has assembled a seasoned team with deep experience in building and managing complex embedded payment platforms. Led by Prochnow and Wolsfeld, the new team includes the following professionals, who bring a wide range of expertise and sophistication to the division:
- Paul Garcia, Senior Vice President, Payments and Fintech Banking Risk Manager, joined in January after more than two decades with First National Bank of Omaha, TSYS, MB Financial and Fifth Third Bank, where he led both large-scale risk management teams and national business lines.
- Ashley Kveton, Vice President and Fintech Banking Operations Director, joined in April following 17 years at MB Financial and Fifth Third Bank, where she held senior roles leading operations and client success groups within their national embedded payments and sponsorship banking division.
- Joe Tarkington, Vice President of Sales and Relationship Management, joined Byline in April. He previously served as Vice President of Sales and Relationship Management for Newline at MB Financial and Fifth Third Bank.
The group will provide third-party payment processing for treasury payment flows, issuing and deposit sponsorship banking for virtual card and account programs, and network sponsorship banking for independent sales organizations and payment processors. These offerings are built on a model of direct oversight, designed to streamline execution without relying on outside intermediaries.
"The message from fintech clients is loud and clear," said Wolsfeld. "They want to work directly with banks that have experienced teams that understand their business, and that's what we've built here at Byline."
About Byline Bank
Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers. Byline Bank operates over 40 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services, including small-ticket equipment leasing solutions, and is one of the top U.S. Small Business Administration (SBA) lenders according to the national SBA rankings by volume FY2024. Byline Bank is a member of FDIC and an Equal Housing Lender.
Visit bylinebank.com for more information, and follow Byline Bank on Facebook, LinkedIn, X or Instagram for the latest news and updates.
Media Contact:
Allison Roche
Marketing Communications & Partnerships Manager
Byline Bank
[email protected]
Investor Contact:
Brooks Rennie
Investor Relations Director
Byline Bank
(312) 660-5805
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6afab2d-4383-4bbb-98d8-672498acf290
