November 8, 2016 – WesPay Advisors Appoints President and Expands Services
WesPay Advisors, the wholly owned subsidiary of WesPay (Western Payments Alliance), today announced that its Board of Directors has appointed Chris Selmi as President. WesPay Advisors provides customized consulting and risk management services to financial institutions, third party payment organizations and businesses utilizing payment systems.
“Today’s electronic payments industry needs trusted partners to help balance the complexities of regulatory compliance and product innovation,” said Tom Rea, EVP, U.S. Bank and WesPay Advisors Board Chair. “WesPay Advisors has quickly established itself as a credible resource delivering a new approach to payments consulting. Chris brings deep industry experience along with a strong vision for the future; we are excited to have him lead the organization.”
In addition to this new appointment, the respective Boards of WesPay and WesPay Advisors have approved the transfer of WesPay’s Risk Management Services to WesPay Advisors beginning January 1, 2017. These services include process, risk and policy reviews for ACH, Remote Deposit Capture, and wire transfer payment networks. To ensure service continuity, existing WesPay staff is appointed to WesPay Advisors for contracted engagements. Mr. Selmi will provide overall leadership for the management and direction of WesPay Advisors.
“There are significant synergies between the Consulting and Risk Management Services that benefit members and warrant bringing these together in one organization,” commented Jose Lara, EVP & COO, SchoolsFirst FCU and WesPay Board Chair. “The unique alliance between WesPay and WesPay Advisors offers a cost-effective approach to organizations of all sizes that promotes the development and best use of electronic payments. This has been WesPay’s mission and the WesPay Board is confident that Chris will build upon that heritage.”
Mr. Selmi joined WesPay in December 2012 and previously spent 16 years in the electronic payments organization at Bank of America where he served in a variety of capacities including operations manager, project support, client and application testing, and compliance manager for both ACH and wire payment operations. Chris served on the WesPay Board as Bank of America’s representative from 2008 through 2012 and has been a member of NACHA’s Risk Management Advisory Group since 2013. He received a Bachelor of Arts degree from the University of California, Santa Barbara.
William J. Schoch continues to serve as President & CEO of WesPay, is a Director on the WesPay Advisor’s Board where he currently serves as the Board Secretary. Mr. Schoch joined WesPay in 2008 and was the Incorporator of WesPay Advisors in January 2016.
WesPay Advisors will build upon decades of experience in the payments industry by combining audits and risk reviews with an innovative approach to payments strategy consulting.