Suggestions
Shawn Princell
EVP | Board Member at ValidiFI
Shawn Princell is the Executive Vice President of Sales and a Board Member at ValidiFI, a company that specializes in providing alternative bank and payment data solutions. He has held this position since June 2023, following the acquisition and rebranding of RIBBIT, a company he co-founded in 2020. ValidiFI's offerings include an API that provides validation and risk solutions aimed at enhancing account openings, credit decisions, and fraud detection.1
Professional Background
- Current Role:
- EVP, Sales | Board Member at ValidiFI (June 2023 - Present)
- Previous Roles:
- CEO | Co-Founder of RIBBIT (Nov 2020 - May 2023)
- President of Cash Flow Solutions, Inc. (Nov 2015 - Nov 2020)
- Vice President, Strategic Business Development at Cash Flow Solutions, Inc. (Jun 2009 - Nov 2015)
- Director of Sales at Cash Flow Solutions, Inc. (2006 - Jun 2009)
- Senior Sales Consultant at Cash Flow Solutions, Inc. (2004 - 2006)
Education
Shawn Princell graduated from Denison University.1
Industry Contributions
In addition to his role at ValidiFI, Princell is actively involved in the payments industry as a team leader for the Faster Payments Professional certificate program at Nacha and serves on the ACH Network Advisory Board.1 His expertise lies in leveraging bank behavior data to drive smarter financial decisions, focusing on areas such as payment risk and fraud detection.1
Highlights
Join Rick Fiorito, Brian Dao, AAP, Steve Kramer, and me tomorrow at Nacha's remote connect as we discuss using account validation data to enhance payment experiences, detect fraud, and deliver new insights!
Visa's new product announcements recognize the shift in payments toward the bank account (and away from the card network).
With 62% of US credit card market share, Visa's new products build on the mobile banking app experiences with a focus on identity and diversified payments via bank account, including:
💳 Passkeys - payment identity solutions using facial or fingerprint scan
💳 One Card, Multiple Payments - a single card used to pay via credit, bank account, BNPL, crypto, or points 🤔
💳 Tap to Pay - building on the 65% global reach to authenticate cards and authorize P2P payments 🤔
💳 Pay by Bank - new ACH payment solutions that disintermediate the card network 🤔
💳 Push Payments Fraud - consumer protection solutions for new real-time payment rails that also disintermediate the card network 🤔
💳 Data Tokens for Consumers - tokenized access to transaction data that appears to support open banking and CFPB's impending 1033 rule 🤔
Visa's clearly getting in on the action of payments originating from the bank account - via ACH, Same Day ACH, RTP, and FedNow - without requiring the card networks.
I'm not suggesting that cards are going away, but rather that account-to-account payments are expected to compete for a greater share of the wallet. Fun times to be in payments and bring out the 🍿.
#paybybank #bankpayments #ACH Nacha #bnpl #fraud #RTP #FedNow
