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John Reed, ATM and Debit Card Pioneer, To Advise On Financial Inclusiveness for Issuer Processor Cascade

John Reed, ATM and Debit Card Pioneer

Cascade Financial Technology Corp

John S. Reed, the banking veteran, will be an Advisor on Cascade’s Financial Inclusiveness initiatives that will bring ATMs to the unbanked in Mexico and LATAM.

John’s advice and vision for our Cascade xBorder technology will truly change the lives of millions of unbanked people, and I’m thrilled to be working on this project with him.”
— Spencer Schmerling, CEO, Cascade
LAS VEGAS, NEVADA, UNITED STATES, April 27, 2021 / -- John S. Reed, the legendary banking figure and pioneer of ATMs and Debit Cards, has accepted an advisory role with Cascade Financial Technology Corp (“Cascade”), the fast-growing issuing platform for Debit and Prepaid card programs based in the USA. John will advise on Cascade’s Financial Inclusiveness initiatives and strategically help expand Cascade’s cross-border technology platform, Cascade xBorder, allowing Cascade to power end-to-end remittance programs between the United States, Mexico, and Latin America.

About the new relationship, Reed said, “Financial Inclusiveness is important to me, and the technology platform that Cascade has developed over the last two years -- and what they are developing now with Cascade xBorder -- will increase the speed and reach of ATM access, as well as Debit card technology, throughout the hemisphere.”

Reed continued: “When Cascade approached me about this Advisory role, I saw how together we could help millions of unbanked people overcome the barriers that have prevented them from having access to modern financial services.”

Mr. Reed is a pillar of the banking industry. In addition to spending 35 years at Citibank/Citicorp, 14 years of which as CEO, he later served as Citigroup’s Chairman following Citicorp's merger with Travelers Group. Following a short-lived retirement, he served as Interim President of the New York Stock Exchange and later Chairman of the Massachusetts Institute of Technology Corporation and sits on numerous boards. A Chicago native, Reed spent his formative years in Argentina and Brazil and fell in love with that part of the world.

As financial technology expanded worldwide, he noticed the disparity between those with access to banking services, and those without. “For the better part of a decade,” Reed said, “I have been looking for the right technology to bring Financial Inclusiveness to millions of people in Latin America, and that’s what I see in Cascade.”

Cascade CEO Spencer Schmerling says of Reed, “Through it all, seeing and creating the future is John’s hallmark trait. John’s advice and vision for our Cascade xBorder technology will truly change the lives of millions of unbanked people, and I’m thrilled to be working on this project with him.”

Founded in 2014, Cascade has evolved from a prepaid card program to card program manager, helping other FinTech companies launch their own payment businesses, and now offers a full-fledged issuer processor platform. The evolution into becoming an issuer processing platform rounds out Cascade's vertical integration of comprehensive card program-related services, including the Cascade xBorder remittance service.

About Cascade Financial Technology Corp
Based in Las Vegas, Nevada, Cascade Financial Technology Corp is an issuer processor that provides a reliable and scalable platform for FinTech start-ups to get their product or service to market quickly. Cascade's platform features RESTful API's, full BSA/AML compliance, automated KYC, extensive fraud mitigation, and world-class USA-based customer service, all of which enable our clients to create the most innovative and inclusive financial products and services that allow all people to participate in the FinTech revolution.

To learn more about Cascade visit:

Brandon Aday
Cascade Financial Technology Corp
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