IdentityMind is a company that provides risk management and regulatory compliance solutions to firms in the finance industry, such as banks, money service businesses, and digital currency exchanges. Today, the company is announcing its appointment of Robert Selander to its board of advisors. Selander has had an extensive career in the finance industry, with over 20 years of experience at CitiCorp and CitiBank, as well as serving as President and CEO of MasterCard.
IdentityMind hopes that Selander will prove to be a valuable asset as the company continue to grow and expand internationally. Geo Coelho, an IdentityMind representative, told Bitcoinist that Selander’s expertise will help the company successfully grow into these new markets.
Selander’s appointment comes in the midst of a busy year for IdentityMind. In the first half of 2015, the company completed a funding round, opened a second US office in April, and is planning to add additional offices by the end of 2015.
IdentityMind calls Selander an “established leader in financial services” due to his extensive corporate background in the finance industry. Selander served as President and CEO at MasterCard — a major credit card corporation — from April 1997 to July 2010. He worked as MasterCard’s Executive Vice President over the company’s Europe, Middle East, Africa, and Canada divisions. Furthermore, aside from his career with MasterCard, Selander worked in several leadership positions during his 20+ year sting at CitiCorp and CitiBank. At CitiCorp, Selander mainly lead the company’s technology subsidiary, developing banking system’s for CitiCorp’s global network. Currently, Selander is a Director at the Western Union Company.
Garrett Gafke, President and CEO of IdentityMind, expresses his excitement regarding Selander’s appointment to the company’s board of advisors:
“Bob Selander is a renowned business leader, and a luminary voice in financial services. Few executives can provide the level of expertise and relevant experience he brings to the table. We’re proud to add his guidance to our advisory board as we continue to expand IdentityMind’s international horizons.”
This appointment is the latest in a string of corporate veterans joining the Bitcoin industry. Paul Camp, former JP Morgan executive, joined Circle as its Chief Financial Officer and Treasurer in December of 2014. In March of 2015, Blythe Masters — also a former JP Morgan executive — joined Digital Asset Holdings, a company that works to streamline financial transactions with the blockchain. Earlier this week, on June 22, Bitreserve announced that Anthony Watson will be joining the team as the company’s new CEO; Watson previously worked as Nike’s Chief Information Officer.
Coelho says that this new trend of corporate executives coming into the Bitcoin world is a sign of the digital currency’s growing mainstream relevance:
“There’s no doubt the mainstream financial industry has begun to take Bitcoin technology more seriously. As with any fundamental innovation, mainstream acceptance takes time. The tech industry is bringing a lot of innovation to the financial industry as a whole right now, and it will be interesting to see how it plays out over the next few years.”
Services like IdentityMind may prove to be extremely useful in the near future, as state and national governments begin to set definite regulations regarding Bitcoin and Bitcoin-related businesses. New York is leading the pack in Bitcoin regulation with its controversial BitLicense, which many people in the Bitcoin community argue is excessive and unnecessary. With the Bitcoin industry being so young, and many of its entrepreneurs being fairly inexperienced, it may be beneficial to enlist the services of companies like IdentityMind to help navigate the treacherous waters of BitLicense and future Bitcoin laws. IdentityMind hopes that having Robert Selander as an advisor will allow it to provide a quality service to companies looking for guidance in complying with new regulations, given that Selander has such an extensive background in mainstream finance.
What do you think about Robert Selander joining IdentityMind as an advisor? Let us know in the comments below!