Fortis Appoints New C-Suite Executives to Enhance Payment Technology Operations

Fortis Strengthens Its Executive Team to Propel Growth in Payment Technology

Fortis, a leader in payment technology for software platforms and rapidly scaling businesses, recently made headlines with the strategic appointment of two key executives: Brent Coles as Chief Financial Officer (CFO) and Sharat Shankar as Chief Risk and Operations Officer (CROO). This move is part of the company’s efforts to not only improve operations but also to extend its partner ecosystem significantly.

The fintech sector is witnessing an increased demand for integrated financial solutions, particularly as software platforms strive to provide their business customers with seamless payment processing options. In light of this, Fortis has set its sights on enhancing its embedded payments capabilities, a goal underscored by the inclusion of Coles and Shankar in its leadership team.

Expertise at the Helm

Brent Coles brings over 25 years of invaluable experience in the fintech and payments space. Before joining Fortis, he held essential senior finance roles in notable payment organizations such as Onbe, Clearent, and BluePay. His track record includes expertise in scaling high-growth businesses, managing mergers and acquisitions, and collaborating with private equity sponsors to realize significant returns.

In his new capacity at Fortis, Coles will be responsible for overseeing all financial operations, which includes strategic planning, forecasting, and capital allocation. He is looking forward to harnessing the company’s strong market position to build a solid financial infrastructure aimed at efficiency and improved value for customers, partners, and stakeholders alike. Coles expressed his enthusiasm, stating, "The company has built strong market positioning and assembled the right technology and team. My focus will be on building the financial infrastructure needed to scale efficiently while delivering value to our customers, partners, and stakeholders."

On the other hand, Sharat Shankar arrives at Fortis with extensive expertise across payments, lending, and fintech domains. His most recent role was as Executive Vice President of Risk at Corpay, a notable global business spend management platform. His career trajectory also includes senior positions at established fintech companies, including Intuit and First Data, making him an excellent fit for the CROO role at Fortis.

As CROO, Shankar will oversee the company's operations and risk functions, ensuring operational efficiency and regulatory compliance while providing exceptional partner experiences. He emphasized the rapid evolution of the embedded payments landscape and Fortis's unique position to lead this transformation. Shankar stated, "I’m excited to work with the team to deliver exceptional partner and customer experiences while enabling scalable growth."

A Holistic Approach to Payments

Fortis has a clear mission: to create holistic commerce experiences that are seamlessly integrated into software workflows, effectively transforming payment processing from a cost center into a strategic advantage. With billions processed annually through its proprietary technology, the company is committed to redefining the B2B payments landscape worth an astronomical $100 trillion.

Both Brent Coles and Sharat Shankar's appointments reflect Fortis’s broader strategy to address the increasing market demand for integrated, seamless payment solutions that align closely with customers' and partners’ needs. The additions to the executive team reinforce the company’s commitment to scaling its operations in this burgeoning field while navigating a landscape that is becoming increasingly competitive and complex.

Future Forward

As Fortis embarks on this new chapter with its strengthened C-suite, industry observers can expect a significant push in innovative payment technology solutions that not only meet current market demands but also anticipate future needs. With experienced leaders steering the ship, Fortis is well-positioned to advance its mission and deliver unparalleled value to all stakeholders involved in the payment processing ecosystem.

With their combined expertise and vision, Brent Coles and Sharat Shankar are set to play pivotal roles in steering Fortis towards a future where payment processing is integrated deeply within operational workflows, driving forward an era of efficiency and innovation in the payments technology sector.