Alternative Finance Industry Veteran Brian Stulman joins eProdigy
Online PR News – 09-April-2015 – New York, NY – Brian Stulman Joins eProdigy as Executive VP.
eProdigy LLC, a fintech holding company specializing in alternative lending, has appointed Brian Stulman as Executive Vice President. Brian will be overseeing all aspects of eProdigy from operations to underwriting, but will be focused mainly on operations. Mr. Stulman, now 47, has been in the alternative lending business almost since its inception 14 years ago, most recently as National Director of Business Development at Next Wave Funding, where he oversaw all business relationships and sales with Independent Service Providers (ISOs) and merchants. At eProdigy, he will manage all distribution channels, internal systems, internal and external sales, with the goal of managing and optimizing deal flow.
Notes Stulman: "I was attracted to the long-term growth potential, being able to take eProdigy all the way to becoming a major player in this industry. eProdigy has the technology, knowledge and relationships—and with the proper nurturing, will become a leader in this space."
David Rubin, CEO of eProdigy, adds: "We wanted to add Brian’s organizational skills into the mix—particularly his proven skill at strategic planning. This latest addition is the last piece of the puzzle for eProdigy from a management perspective—Brian fits the bill perfectly. He’s the right person to oversee operations, whether retail or wholesale, help with product launches and develop loan programs."
The key differentiator for eProdigy, Stulman believes, is its cutting edge technology. "The technology is a game changer. It’s a multiplier for how we can write business—essentially it transforms eProdigy from being competitively price-driven to being able to drive technology for the industry, and get us into places we couldn't go strictly on price point—notably, the ability to provide a level of service that expedites deals and makes it as easy as possible for the customer," he notes.
Technology removes a giant hurdle to underwriting and servicing—it adds speed, transparency, and allows scaling without a commensurate increase in staff. Notes Rubin, "It allows us to put a level of control in the brokers’ hands. It gives them speed, which allows them to make their deals right at the point of sale, rather than having to come back or reach the merchant later on the phone. It’s powerful."
Specifically, Stulman wants to build out both distribution channels, internal and external sales divisions, "in a major way. We want to control as much deal flow as we physically can." He sees the business building to five times its current capacity in the next year. He has watched the industry go "from zero to a billion dollar industry just in the last 3 years. It went from one player to hundreds of players. There are new funders popping up every single day."
"This industry needs the technology we’re putting out there," agrees Rubin. "From the merchants' perspective, they need good, fair time frames, they need to be funded fast, and they need to be treated fairly, with better customer service."
eProdigy provides a suite of services to the alternative finance industry through a proprietary online platform. We work with funders, ISOs, syndicates and brokers to provide a comprehensive servicing tool that allows our partners to manage their deals seamlessly. eProdigy is redefining the way small and midsized businesses access working capital with technology that offers merchants a five minute decision and same day funding. Our companies include: Capital Stack, 1Workforce, ACH Capital, eProdigyACH DBA ACHBanking, eProdigy Loans, and Daily Funder.
For more information, please visit www.e-prodigy.com