Randy Khalaf joins XTM Board of Directors

Karthik Subramanian

XTM Inc.,  a Canada-based company that specialises in neo-banking services, has announced that Randy Khalaf has joined its Board of Directors as a replacement for Paul Huber who had resigned from the Board.

Mr. Khalaf has over 2 decades of experience in the Capital Market Industry and had previously worked at Novus International as the Chief Financial and Enterprise Systems officer. He comes in with a huge wealth of experience and he would chair the Audit Committee.

XTM is a digital bank that basically has no branches. A neobank does all its operations online including the opening of accounts. This is done for the convenience of users who can perform all banking operations online and these are done in a smooth and easy manner.

Neobanking services have been gaining in reputation over the last couple of years especially due to the pandemic as users are basically shut at home due to the lockdowns in different parts of the world and they are now ready to start doing as many operations online as possible. Even those who were reluctant to perform transactions online earlier due to security issues, have now started coming online more and more and are now attracted by the ease and convenience.

Mr. Khalaf has been recognised for his business acumen and helping his companies grow their bottom line and EBITDA and overseeing operations of the companies that we have worked in.

“We welcome Randy to the Board and look forward to his participation,” said Marilyn Schaffer, CEO. “With our US expansion well underway and our current focus on the US market, Randy will bring a tremendous amount of financial experience and leadership to the audit and compliance side of the board as well as providing valuable guidance navigating our rapid growth and expansion plans.”

Neobanking is expected to grow exponentially in the coming months and the digital payments industry is also expected to enjoy a buoyant period. This is the reason why we are seeing a lot of changes and upgrades in almost all neo banking and digital payment companies as they upgrade their infrastructure and their management teams to make full use of this growth period and capture as much of the market as they can.

These companies are not only upgrading their websites but are also focussing their efforts on building and upgrading their mobile apps as well as the population becomes younger and younger and this new generation of users are expected to use their mobiles more than their laptops or desktops.

 

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