Chexar Networks, Inc., a provider of financial risk management solutions, announced today that Will Sowell would become Chexar’s President and Chief Operating Officer effective April 22, 2013. In this role, Sowell will take primary responsibility for the day-to-day operations of the company, including the continued development and deployment of a universal account-funding network that enables consumers to load any check onto a Visa prepaid card from a smartphone and have access to the funds in minutes.
Sowell’s career includes relevant experience at GE Money, including leading their check-cashing engine, CashWorks, and then their entry into the prepaid card arena. Under Sowell’s leadership, GE Money launched the “Walmart Money Card”, which remains a leading product in the prepaid industry. Most recently, he served as Chief Operating Officer for Green Dot Corporation, leading them through significant and rapid growth including their initial public offering.
Chexar founder and Chief Executive Officer, Drew W. Edwards, said, “I am truly thrilled that Will is going to join me in leading Chexar into the next stage of business. His years at GE Money – innovating around both prepaid and check-cashing – combined with his years at Green Dot helping manage their growth from a few hundred employees to more than 1,500, will be a perfect fit for us. I think highly of Will’s character and track record, and couldn’t have found a better fit for our team. This move also frees our Chief Financial Officer, Steve Doctor, to be more focused on his role.”
Steven Doctor, Chexar’s current COO/CFO, will continue with the company as the Chief Financial Officer, reporting to Edwards. “When I took on dual responsibilities as COO and CFO, we knew it would be impossible to sustain once we reached a certain point in the company’s life cycle. Now the company needs me full-time as its Chief Financial Officer, where I will focus on the financial and strategic opportunities and direction of the company,” said Doctor.
Will Sowell added, “I am excited to join an organization that has created an innovative technology solution which meets a pressing need for financially-underserved customers. I look forward to bringing my industry expertise to the strong team that Drew has built.”