Press

DES MOINES, IA (August 26, 2014) — The SHAZAM Network announced at the annual shareholder’s meeting the appointment of a new president and chief operating officer for the member-owned EFT network. Paul Waltz, who served as SHAZAM executive vice president and chief operating officer, took on the new leadership role of president in anticipation of current CEO Michael Hollinger’s August 2015 retirement. Hollinger will retain his CEO title until his retirement.

“As a long-time community banking executive and SHAZAM board member, Paul is the ideal leader for the SHAZAM Network,” said Hollinger, who has served as SHAZAM president and CEO since 2004. “Our member owners will be as energized as SHAZAM staff have been by Paul’s entrepreneurial spirit and commitment to innovation in the payments industry.”

Waltz has spent more than 30 years working with community financial institutions in Iowa, most recently with First American Bank in Fort Dodge, Iowa, as chief operating officer. During those years, Waltz also held a variety of positions on the SHAZAM board of directors, including chairman.

“In this rapidly changing payments industry, it’s incredibly important for community financial institutions to have a voice,” said Waltz. “The SHAZAM Network has a strong history of advocacy and innovation for the success of our member owners, and it’s my intention to leverage that history for an even brighter future for the nation’s community banks and credit unions.”

About SHAZAM  
The SHAZAM Network was founded in 1976 and is one of the last remaining member-owned and -controlled electronic funds transfer (EFT) networks and processors in the industry. SHAZAM provides innovative EFT services to community financial institutions throughout the United States. SHAZAM is a single-source provider of the following services: core, risk management, card, ATM, marketing, merchant, mobile, and automated clearing house (ACH). To learn more, visit shazam.net.