BROOKFIELD, Wis., Sept. 21, 2021 /PRNewswire/ — iStream Financial Services, a leading provider of payment processing solutions, announced today that Kris Axberg, iStream’s Chief Executive Officer, will retire from his role after 17 years with the company. He will continue to serve on the iStream Board as Executive Chairman. iStream’s Board of Directors has elected Shawn Griffin to succeed Axberg effective October 1, 2021.
“For the past 17 years, iStream has built a reputation as a leader in the fintech industry. I am extremely excited and fortunate to have Shawn Griffin take the lead as CEO. His deep banking knowledge will accelerate deployment of iStream’ s fintech solutions and guide the company through the next phase of innovation and growth,” said Axberg.
Axberg has worked with iStream’s key stakeholders since before the company’s inception in 2004, holding positions at USB Payment Processing and its affiliate Universal Savings Bank, prior to its acquisition by Fifth Third Bank in 2002. Axberg was a founding member of iStream and served as the Chief Financial Officer before being named Chief Executive Officer in 2014, after the unfortunate passing of iStream founder, Ken Biel. During Axberg’s tenure, iStream expanded its offerings, significantly fortified its distribution network, and positioned itself as an industry leader in the fintech arena.
During his tenure at MB Financial and Fifth Third Bank, Griffin worked closely with iStream Financial Services for the past 10 years. He brings over 40 years of experience in treasury and payments innovation in the banking and financial services industry, making him uniquely qualified to lead iStream to the next generation of partnerships, integrations, solution development and deployment in the payments and fintech ecosystem.
Griffin stated, “I am honored to be the next CEO of iStream and am grateful for the trust the Board has put in me. iStream is well positioned to execute on significant opportunities ahead, and I am excited to help lead our business forward and continue helping our clients achieve their financial goals.”
About iStream Financial Services
iStream Financial Services delivers fintech solutions that are bank agnostic and focus on payments, data, A/R, treasury management and reconciliation. From integration facilitation, data management, ease of boarding and payment processing, iStream reduces the costs and overall complexity of payments for entities of all size and scope. Providing ACH, remote deposit capture, credit card facilitation, gateway solutions, lockbox and robust sub-accounting platform solutions, iStream leverages a bank agnostic approach for both the payment and disbursement of transactions. This allows clients to retain the institutional relationships they have in place, resulting in cost reductions, faster payments, and accelerated cash flow for clients. For more information, please visit www.istreamfs.com.