Tyfone Appoints Tom Shen, Santo Cannone, Laurent Desmangles to Board of Directors

Tyfone, the preeminent force in digital transformation, account holder engagement and back-office efficiency for community financial institutions (CFIs), today announced the appointment of Tom Shen, Santo Cannone and Laurent Desmangles to its Board of Directors. The new board appointments join Tyfone at a pivotal moment following a significant investment of both resources and talent from Demopolis Equity Partners, an impact-oriented private equity fund.

Tyfone's co-founder and CEO, Dr. Siva Narendra, said, "Tyfone is positioned for explosive growth. Following our recent investment from Demopolis, we have tapped three of the most renowned industry experts to serve on the Board. The new board members will contribute through strategic guidance and oversight, ensuring Tyfone continues to provide community financial institutions with the most advanced digital transformation solutions and giving them an edge over the increasingly fierce competition."

Tyfone's pledge to digitally empower financially healthy people and communities through collaboration with credit unions and community banks is more than just words?it's a commitment substantiated by advanced digital solutions, robust data and outstanding leadership. Shen, Cannone, and Desmangles believe in this mission and will be crucial in providing expert guidance to help Tyfone's CFI partners acquire and retain account holders, increase revenue, improve operational efficiencies and help their account holders simplify and improve their financial lives.

• Tom Shen is a highly regarded serial fintech entrepreneur. During his tenure, he has successfully founded many startups eventually completing multiple successful exits. With more than 40 years of experience, he is a prominent advisor for several leading financial institutions and fintech providers. He founded Software Dynamics Inc. in 1982 and sold the company to publicly traded S1 Corporation in 2001. He also co-founded and since then has served on the executive team for Digital Insight and he co-founded Malauzai Software Inc. in 2010, which was acquired by Finastra in 2018. Currently, Shen serves on the board of several companies, including CSI, BankiFi, and Shastic. He also serves on the board of Axiom Bank, a community bank headquartered in Orlando, FL.
• Santo Cannone is a seasoned expert in financial technology with more than four decades of experience. He is recognized as a distinguished industry leader for his abilities to develop and implement products while delivering proven go-to-market strategies for organizations ranging from start-ups to Fortune 500 companies. He is currently a strategic advisor for Demopolis Equity Partners. Previously, he held a leadership role at FIS as well as a Chief Product Officer role for Fiserv. He currently serves as board chair at Tampa Bay Wave and board member at United Solutions and Simply Reliable.
• Laurent Desmangles brings a global perspective, most notably his proven track record helping organizations chart growth strategy and execute large-scale transformation. His broad knowledge of the financial services industry, regional banking and the fintech sector will prove invaluable, as well as his expertise in corporate strategy, digital and analytics innovation. Desmangles has spent nearly 30 advising banks as a consultant. Most recently, Desmangles retired from Boston Consulting Group (BCG) as a managing director and senior partner in New York where he advised banks for BCG's Retail Banking and Advanced Analytics practices. Desmangles also serves as a director on the board for $220B Fifth Third Bank as well as serving on the board of Laurentian Bank of Canada.

Prabhakar Tadepalli, co-founder, COO and former board member of Tyfone, said, "I am excited to have Tom, Santo, and L.D. join our board. They bring an immense reservoir of knowledge and experience to Tyfone's leadership team as advisors. We look forward to them providing critical insights during this transformative time as we continue to drive our mission forward."

Bruce Willison, board chairman of Tyfone and dean emeritus of the UCLA Anderson School of Management, said, "Between the investment from Demopolis and acquisition of CUBUS, as well as the continued investment into top fintech talent, Tyfone is well-positioned to deliver the most impactful digital solutions to its customers."

Tyfone provides consumer and commercial digital banking services for CFIs throughout the U.S. Its offerings include the nFiniatm platform, a modern, flexible and extensive digital banking platform for retail and commercial customers, as well as an extensive suite of platform-agnostic, revenue-generating payments products. The past year for the company has been marked by significant growth with the go-live of several customers, expansion to its suite of fintech solutions and hiring of top tech talent, promising disruption and innovation to the CFI market.

About Tyfone Inc.

Based in Portland, Ore., Tyfone is a leading provider of consumer and commercial digital banking services for community financial institutions throughout the U.S. We understand that an elegant, engaging, intuitive user experience is the minimum requirement for any digital banking provider. What differentiates Tyfone is our unwavering commitment to continuous innovation, exceptional collaboration and superior execution. We consider each customer a true partner and place the highest value on every relationship. To learn more about Tyfone, visit Tyfone.com and connect on LinkedIn.

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