Former MasterCard Worldwide President and CEO H. Eugene (Gene) Lockhart has joined the board of directors of Ingo Money, a company providing quick funds through the digitizing of paper checks.
Users take a photo of a check and submit for approval and instant funding to most banks and prepaid cards.
Mr. Lockhart will help Ingo Money scale service to financial services companies, banks and business customers.
“Ingo Money addresses a pressing, but often overlooked problem for hundreds of millions of individuals and small businesses — the funds delay and default risks associated with more than $20 trillion in checks issued annually,” Mr. Lockhart said. “I am excited to work with Ingo’s veteran leadership team to build on their success and extend its guarantee of instant funds access to even more Americans.”
Mr. Lockhart is a Special Advisor to financial services global growth investment firm General Atlantic and Chairman and Managing General Partner of MissionOG, an early stage growth equity investment firm focusing on hypergrowth fin-tech companies. He also advises several private equity firms.
During his time with MasterCard Worldwide, Mr. Lockhart led its transition to a for-profit operation. He also served as President of Bank of America’s Global Retail Bank. Corporate boards he has served on include RJR/Nabisco, APACS, CHAPS, SWIFT, and Europay.
Mr. Lockhart joins Progeny Management CEO John W. Collins, Bailey P. Robinson, Camden Partners Partner and Managing Member Shane Kim, GiveCrops CEO Vince Talbert, and Ingo Money CEO Drew Edwards on the board.