Vijay Sondhi Named CEO of NMI

Roy Banks Steps Down After Successful Completion of the Creditcall Acquisition

Roselle, IL – May 10, 2018 – NMI, a leading provider of payments enablement technology for ISOs, VARs, ISVs and payment facilitators, today announced that Vijay Sondhi has been named CEO to lead the Company through its next phase of growth. After a successful tenure that saw NMI grow by multiples, recapitalize with Francisco Partners and most recently make the substantial strategic acquisition of Creditcall, Roy Banks decided to step down. The transition will occur immediately.

“It has been hugely rewarding to both lead and transform NMI over the last several years as well as partnering with both Francisco Partners and Great Hill Partners.” - Roy Banks

“It has been hugely rewarding to both lead and transform NMI over the last several years as well as partnering with both Francisco Partners and Great Hill Partners,” commented Banks. “As the business has now become a global omni-channel payments technology company with the Creditcall acquisition and is set on a course for success, I have made the difficult decision to explore new opportunities that leverage my passion and successful track record building high-growth and innovative technology companies. I have every confidence in Vijay and know that NMI partners and employees will be in good hands going forward.”

“We thank Roy for his many contributions to NMI over the years and look forward to having him remain as part of the NMI family,” said Peter Christodoulo, Partner of Francisco Partners. “Roy is a truly exceptional individual and a talented payments executive and we are grateful for his leadership. While bittersweet, we are also thrilled to have someone of Vijay’s caliber agree to step into the CEO role.”

“We have enjoyed a wonderful working relationship with Roy for over a decade and thank him for his leadership,” commented Matt Vettel, Partner of Great Hill Partners. “We are also very pleased that Vijay has agreed to become NMI’s next CEO. His payments and retail technology experience is extraordinary, and we expect him to lead the Company to new heights.”

“I am honored to become NMI’s next CEO,” commented Sondhi. “With the core NMI platform now combined with Creditcall, we have a tremendous amount of opportunity in front of us to deliver true omni-channel solutions to our partners and continue to drive payment innovation more broadly.” - Vijay Sondhi, NMI CEO

“I am honored to become NMI’s next CEO,” commented Sondhi. “With the core NMI platform now combined with Creditcall, we have a tremendous amount of opportunity in front of us to deliver true omni-channel solutions to our partners and continue to drive payment innovation more broadly.”

Sondhi is a former senior executive of Visa, where he was responsible for launching and operating Visa's flagship One-Market Innovation Center. He also served as Visa's Head of Corporate Strategy and Senior Vice President / GM of Visa's CyberSource and Authorize.net businesses.

About NMI

NMI provides payments enablement technology that empowers ISOs, ISVs, VARs and payment facilitators to offer branded payment gateway services without building or maintaining their own technology. Our exceptional team of software engineers has created a security-focused, feature-rich, omni-channel payment gateway platform that partners can completely and transparently brand, removing NMI from their merchant customers’ view. Headquartered in Roselle, Illinois, NMI is the operating trade name of Network Merchants, LLC. For more information, please visit www.nmi.com.

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