Zafin Announces Inaugural Board of Directors

loudspeakerWith over 150 years of collective experience, Zafin board members are responsible for industry innovations like Internet banking and nationwide adoption of direct deposits

Toronto and Vancouver, (January 23, 2014) – Zafin announced today the formation of its first-ever Board of Directors, including industry titans David Kvederis, Barry X Lynn, Nizar Somji and Hans Tesselaar.

“We have assembled a team of industry game changers that are responsible for some of the largest innovations in finance and technology over the past four decades,” said Al Karim Somji, CEO, Zafin. “As the founder and CEO of Zafin, I look forward to working with such an accomplished and well-respected group to maximize Zafin’s opportunity in the market.”

Zafin’s Board of Directors include:

David Kvederis

David Kvederis is the founder and CEO of Bankserv, the leading SaaS (software-as-a-service) technology provider in the financial services industry, facilitating electronic corporate payments, mobile check deposits and bank-to-bank payment transactions both in the U.S. and worldwide.

Credited with helping the nationwide expansion of direct deposits during his tenure as chairman of NACHA, David is a pioneer in the electronic payments industry. David has a rich banking background and was a senior vice president of Wells Fargo Bank.

Barry X Lynn

Barry X Lynn is chairman, CEO and president of Be eXceL Management, Inc., an incubator of early stage tech companies. He is the current chairman of Blab, Inc., and past chairman & CEO of 3Tera, the cloud computing pioneer acquired by CA in 2010. He has over 40 years experience as an entrepreneur and executive in the IT and financial services sectors in Fortune 100 companies.

Previously, Barry was chief information officer (CIO) of Wells Fargo & Company and president of Wells Fargo Technology Services, where he built the world’s first Internet online banking system.

Hans Tesselaar

Hans Tesselaar is the executive director of BIAN, the Banking Industry Architecture Network. Hans has over 30 years experience in the financial services industry within banks, insurance companies, and pension funds.

He previously held various management positions within ING, including chief architect and director of sourcing, innovation and governance. His areas of expertise include strategic business planning, enterprise architecture, and innovation.

Nizar Jaffer Somji, Chairman of the Board

Nizar Jaffer Somji is the president and CEO of the Jaffer Group of Companies, a full service management and investment firm. He is also the former president and CEO of Matrikon, a company he founded and grew to become a publicly traded industrial technology company that was acquired by Honeywell Inc. in 2010.

Nizar has first-hand experience with the entire lifecycle of a business, from concept and formation to growth, exchange listing, and sale. He has a proven track record of growing businesses, both locally and internationally, based on prudent fiscal management for sustained growth and profitability.

With the rapidly growing demand for Product and Pricing Lifecycle Management solutions in the financial service industry, Zafin’s new board will provide strategic guidance as we increase our global customer base.

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To request an interview with a spokesperson or for more information, please contact:

Melissa Pelto
Communications Director, Zafin


About Zafin

Zafin is an award-winning provider of relationship banking software solutions to the financial services industry. As the market leader in relationship banking for Retail, Corporate, Wealth Management and Correspondent Banking, Zafin is transforming the way banks manage products, pricing, loyalty and billing across the entire client relationship.

Our flexible software suite, miRevenue, is a complete Product and Pricing Lifecycle Management (PPLM) platform – a “start-to-finish” view of the way banks bring products to market quickly and easily with a focus on revenue enhancement.

Our global client base includes many of the world’s largest and most respected tier-1 banks, all of whom are referenceable. With a presence in more than 40 countries, miRevenue routinely generates 100% ROI in under 12 months.

Zafin is privately owned and operates out of multiple global locations including North America, Europe, Asia, the Middle East and Africa. For more information, please visit