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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 Paym...
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[{"type":"text","content":"Byline Bank Expands Payments and Fintech Banking Group to Support Embedded Payment Solutions\n\n\n\n\n\n\n\n CHICAGO, May 12, 2025 (GLOBE NEWSWIRE) -- Byline Bank today announced the expansion of its\n \n Payments and Fintech Banking\n \n division, including several key new hires and leadership appointments, which underscore the bank’s significant investment in embedded finance and modern digital payment solutions.\n \n\n Since bringing on industry veterans\n \n David Prochnow\n \n and\n \n Joe Wolsfeld\n \n 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.\n \n\n “This team represents an important evolution for Byline as we continue to invest in innovation and meet our clients where they are,” said\n \n Alberto Paracchini, President and Chief Executive Officer of Byline Bank\n \n . “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.”\n \n\n 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.\n \n\n “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\n \n Prochnow\n \n . “Our team at Byline knows from experience that successful fintech-bank partnerships are rooted in relationships.”\n \n\n To power this division, Byline has assembled a seasoned team with deep experience in building and managing complex embedded payment platforms. Led by Pr...