|[September 16, 2013]
Independence Bancshares Expands Senior Executive Team
GREENVILLE, S.C. --(Business Wire)--
Independence Bancshares, Inc. (IEBS) ("Independence Bancshares" or the
"Company"), the holding company for Independence National Bank (the
"Bank"), is pleased to announce that former Verizon Wireless (News - Alert) executives
Aditya Khurjekar and Humphrey Chen have joined the Company to help build
out its mobile technology and banking capabilities.
Previously, Mr. Khurjekar was responsible for leading a number of mobile
payments and commerce initiatives at Verizon, including elements of
ISIS, the NFC joint venture between AT&T (News - Alert), T-Mobile and Verizon Wireless.
He established pioneering partnerships in mobile money involving mobile
operators, financial institutions and technology innovators. Mr.
Khurjekar is also involved with cross-industry working groups such as
the Mobile Payments Industry Workgroup, which was formed by the Federal
Reserve Banks of Boston and Atlanta to facilitate the evolution of a
more effective, secure, and ubiquitous mobile payments system. He has
extensive engineering knowledge and experience with mobile device and
NFC chip and software technologies. Before joining Verizon, Mr.
Khurjekar held product engineering and strategy positions at CSG
Systems, Lucent Technologies, and Bell Laboratories.
Prior to joining Independence Bancshares, Mr. Chen founded and led
Verizon's 4G Venture Forum and was an Executive Director of New Product
Technologies responsible for the intersection of innovation and capital
investments in emerging technologies. Mr. Chen's deep knowledge of
mobile market trends, combined with his extensive technology background,
provides a solid foundation especially when combined with creative
high-tech consumer and enterprise insights. Previously, Mr. Chen was
Director of Portfolio Strategy & Business Development at Avaya (News - Alert), Senior
Product anager in the Real-Time Collaboration (RTC) group at Microsoft,
and Senior Business Analyst Policy Advisor at the U.S. Federal
Communications Commission Wireless Bureau. Mr. Chen will be focused on
business development and emerging technologies and platforms such as
Bluetooth Low Energy (BLE) and iOS7.
"Following the recapitalization of the Bank in December 2012, we have
been increasingly focused on emerging trends in consumer banking and
finance," said Gordon A. Baird, Chief Executive Officer of Independence
Bancshares. "We believe that many elements of the U.S. core bank
processing and payment technology backbones can be improved to produce
better banking and payment experiences for consumers. We are excited
about delivering more robust, secure and ubiquitous capabilities to our
bank's customers. As the global banking landscape moves to more
real-time processing and service-oriented architectures (SOA), we plan
to be one of the leaders enabling consumers and our corporate and
banking relationships to succeed in an increasingly competitive and
innovative world. Aditya and Humphrey bring years of experience in
mobile technology that materially strengthen our in-house knowledge and
relationships with telecommunication, consumer technology and wireless
innovators that will augment our ability to provide contemporary
features to traditional and emerging banking and payment channels."
These new hires follow additions in April and May to Independence
Bancshares' Board of Directors geared toward strengthening and
broadening the Company's leadership. New members included: Robert B.
Willumstad, the former President and COO of Citigroup; Alvin Hageman,
the former co-head of Citigroup's Securitization Products Group and
Senior Credit Officer; and Keith Stock, former President of MasterCard (News - Alert)
Advisors, LLC, member of the MasterCard Worldwide Operating Committee
and Management Council, and Senior Partner at A.T. Kearney, Capgemini,
Ernst & Young, and McKinsey & Company (News - Alert). Willumstad, Hageman and Stock
joined existing Board members Neel Hipp, former Vice President of
Liberty Corporation, and Sandy McLean, CEO of World Acceptance
Corporation, both of whom also serve on the Independence National Bank
Board of Directors.
Independence National Bank, Independence Bancshares' banking subsidiary,
continues to focus on providing superior banking products and services
to the Greenville and upstate South Carolina markets. Independence
National Bank offers a complete banking line of business including
commercial loans, consumer finance, retail banking, business banking,
and merchant services. It is led by CEO Larry Miller and supported by a
board of industry leaders -- including Chairman Emeritus, Charlie
Walters, and board members including Robert Austell, John Burnett, Billy
Coleman, William Mathis, Sudhirkumar Patel, Donald Rex Jr., Roger
Walters, and Vivian Wong.
About Independence Bancshares, Inc.
Independence Bancshares, Inc. is a bank holding company headquartered in
Greenville, South Carolina. It owns and controls all of the capital
stock of its sole subsidiary, Independence National Bank, a nationally
chartered bank. Independence National Bank is headquartered in
Greenville, South Carolina. Since opening for business in 2005, we have
been providing a complete banking line of business including consumer
finance, business banking and merchant services. Our goal is to continue
to deliver services that provide exceptional value to the community we
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