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Keven Lake Named New CEO and President Of Futura® Card Services
Strategic Focus on Strengthening Partnerships, Expanding Product Portfolio, Improving Operational Efficiencies
CARLSBAD, Calif., July 15, 2008:
Futura® Card Services, one of the largest and fastest growing
brands in the stored value card marketplace, today announced that
Keven Lake has been named CEO and president, reporting to the
board of directors of Stored Value Cards, Inc., Futura’s parent
company. He replaces Vicente Mota.
“Stored value cards provide consumers a secure, convenient alternative
to carrying cash and are rapidly becoming the next phase of consumer
card technology, along with credit and debit cards,” said board
member Carlos Kang. “This is a market that offers great upside
opportunity, and Keven brings the right combination of experience
in retail, financial services and information technology to grow
the Futura brand. The board has complete confidence in his ability
to shorten the product development cycle, accelerate time to market,
and improve operational efficiencies in our inventory management,
field operations and customer support systems and programs.”
Lake has spent much of his career in the business to consumer
space, executing retail, ecommerce and supply chain initiatives
for several Fortune 500 companies. Backed by more than a decade
of sales and executive management experience in developing and
implementing successful sales and marketing strategies in the
retail, industrial and financial services sectors, he has held
executive management positions with various divisions of IBM Global
Services and US Internetworking. While at IBM, he was responsible
for managing relationships and developing strategies with companies
such as The Home Depot, General Motors, GMAC and The Coca-Cola
Company. While leading US Internetworking’s ecommerce division
– now a part of AT&T – he worked closely with Bank of America
and other large retail financial and insurance companies to improve
customer acquisition programs in both the direct and online sales
channels.
“I share the board’s excitement about the stored value card marketplace
and the opportunity to establish the suite of Futura® Prepaid
MasterCard® debit card products as industry leaders,” Lake
said. “I look forward to working with our ISO channel partners,
distributors and retailers to expand our market presence, as well
as introducing innovative branded and private label programs for
the enterprise, including new reloadable general spend debit cards,
gift cards and wage disbursement cards.”
About Futura® Card Services
Futura is one of the largest and fastest growing brands in the
stored value marketplace. Futura® markets, distributes and
services a suite of prepaid MasterCard® debit card products
that includes reloadable general spend debit cards, gift cards
and wage disbursement cards. The company leverages synergies between
consumers, merchants and ISOs to offer a diverse lineup of financial
tools. No other card brand in the world is more widely recognized
than MasterCard, and the Futura® Prepaid MasterCard® Debit
Card can be used to make purchases anywhere MasterCard is accepted.
Futura’s unique distribution model delivers the lowest cost, highest
margin prepaid debit card solutions to the retail channel as well
as innovative branded and private label programs for the enterprise.
For more information, please
visit www.futuracards.com.
Press Releases
July 15, 2008:
Keven Lake Named New CEO
