Payments enablement firm NMI Holdings, Inc. on Tuesday (Dec. 21) announced that Ravi Mallela will take over as the company’s executive vice president and chief financial officer on Jan. 10, 2022, succeeding Adam Pollitzer, who will become NMI’s president and CEO on Jan. 1, 2022.
“We are delighted that Ravi is joining our exceptional team at National MI,” said Pollitzer in a news release. “He is a talented executive who brings a wealth of experience and a proven track record as a senior finance leader. I look forward to working closely with him and the rest of our management team as we lead with impact for our customers, community and employees, and execute on our growth and capital strategies to deliver long-term value for our shareholders.”
Mallela had been executive vice president, chief financial officer and treasurer of publicly traded bank holding company First Hawaiian, Inc., where he oversaw financial reporting, planning and analysis, investor relations, corporate development, tax and treasury functions, and managing and deploying capital.
Earlier in his career, he was senior vice president, head of finance and treasury for First Republic Bank and he also held senior management positions with Bank of Montreal and Wells Fargo.
Related news: NMI Expands Into Omnichannel Payments With USAePay Acquisition
In February, NMI acquired payment solutions company USAePay to offer customers more choices and elevate NMI’s technical capabilities and enhance its leadership position in global omnichannel payments. USAePay’s offerings complement NMI’s tools and bring a new level of expertise to the team.
The combined entity creates a global omnichannel offering, using each company’s tools for eCommerce, unattended payments, retail and mobile payments. This enhances NMI’s coverage in retail and restaurants, where USAePay has a strong presence due to its card-present point-of-sale offerings.
Also read: Five Banks to Test FedNow Real-Time Payments System
In April, First Republic Bank was one of eight financial institutions to test the Federal Reserve’s FedNow program, which is aimed at streamlining the clearing and settlement process.
FedNow, which will be fully implemented by 2023, will let people and companies transfer funds between accounts, pay bills, and send or receive money from friends or family. The near-real-time services will be available any day or time of the year.
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