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iStream Announces Retirement of CEO Shawn Griffin

BROOKFIELD, Wis., Feb 21, 2024 – iStream Financial Services, a leading provider of payment processing solutions, announced today that Shawn Griffin, iStream’s Chief Executive Officer, will retire from his role after 2.5 years with the company. Shawn was recruited out of retirement and initially agreed to serve a 2-year term.  Shawn had been actively engaged with the iStream Board regarding this transition over the past several months. 

Kris Axberg, former CEO, and current Chairman of the Board has agreed to step-in and fill the role of Interim CEO while an extensive search for the next leader of iStream is conducted.  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.

“On behalf of the Board, we thank Shawn for his leadership and contributions during his tenure at iStream,” said Kris Axberg, Chairman of the Board.  “We are excited about the momentum that Shawn and the iStream Team have been able to build over the past few years and look forward even more success as we move forward as a dynamic, growing organization.

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

Media Contact Tom Cunningham

iStream Financial Services