News

Raymond leaves BofA, joins Genpass

November 7, 2002

FORT WASHINGTON, Pa. -- Genpass Inc. has hired William Raymond, senior manager of  Bank of America's network of 14,000 ATMs since 1998, as its executive vice president.

According to a company release, Raymond will work to acquire ATM networks and large bank contracts.

During his nine-year tenure at Bank of America, BofA initiated the nation's largest check card program and introduced the first Platinum Check Card. Raymond played a key role in BofA's deployment of Windows-based ATMs, talking ATM technology, ATM advertising, targeted cross-sale and ATM personalization capabilities.

Raymond also served on the board of directors of the Star System, Plus, Cash Station and Pulse networks.

Genpass president and chief executive Bipin Shah said in the release, "(Raymond) understands the needs of large deployers and can direct our efforts to design products that will bring new services and new approaches to them. He also understands the retail customer and the kind of products and customer service that builds retention and loyalty for our Genpass customers."

Raymond's departure marks the second major defection in recent months from the nation's leading ATM deployer and debit card issuer. Bond Isaacson, who was in charge of BofA's debit card program, recently joined Concord EFS Inc., owner of the Star network.

Genpass is the owner of the MoneyMaker electronic funds transfer network and is the nation's second-leading ATM driver.