St. Petersburg-based BayFirst National Bank welcomes NJ-based Fintech leader as Director of Digital Banking Strategy
Michael Yang to improve the bank’s digital strategy and spearhead Fintech collaboration
ST. PETERSBURG, Fla., Nov. 15, 2022 (GLOBE NEWSWIRE) — As part of its ongoing commitment to improve the delivery of both new and traditional financial products and services to individuals and businesses, St. Petersburg-based BayFirst National Bank – Wholly Owned Subsidiary by BayFirst Financial Corp. (Nasdaq: BAFN) – has hired NJ-based Fintech executive Michael Yang as Director of Digital Banking Strategy. In his new role, Michael will work closely with the bank’s technology team to implement key components of its strategic plan, which includes further streamlining the bank’s operational capabilities, enhancing its digital/mobile delivery of current services and developing fintech partnerships to drive revenue to current lending departments for private customers and commercial enterprises.
His specific responsibilities include developing and deploying BayFirst’s technology infrastructure to expand its Fintech products and extend banking services to small businesses, Fintech and other partners looking to offer digital lending, account management and payment services to their customers.
Michael previously led strategy across all fintech banking products – including payments, Banking-as-a-Service and SME Loans – as senior relationship manager at Cross River Bank in New Jersey. His achievements include leading the team of relationship managers for marketplace lending and various fintech products and managing top-tier program partners such as Affirm, Rocket Loans and Upstart. Michael’s relationship oversight included strategic planning, product development and launch of fintech partners in addition to operational oversight of loan processing, accounting and data management.
He also previously served as director of deal origination as an early team member at Fundera, (acquired by NerdWallet), an early-stage, high-growth startup where he generated $1.5 million in revenue through the origination of small business loans, ran business growth opportunities, and developed internal credit and sales programs. Most recently, he served as director of partnerships and operations at mental health startup Another Wellness Company in New York, where he was responsible for leading partnership opportunities and managing business development and sales strategy.
“Michael has a proven track record of developing strategic Fintech partnerships and has a deep understanding of the evolving banking landscape, which will significantly benefit not only BayFirst as a whole, but also the clients we support,” said BayFirst SVP, Director of Strategy and Innovation Matthew Nicolosi. “As digital continues to transform our sector, we trust Michael to help develop the innovation and partnerships we need to stay ahead of the curve, and we look forward to seeing what we can build together to enhance the BayFirst banking experience both local and nationwide.”
“The addition of Michael to our growing team is just the latest in a series of moves designed to further advance BayFirst as a technology-driven organization,” added BayFirst CEO Anthony N. Leo. “At a time when community banks must implement technology to compete in a digital-first era, expanding our team and enhancing our strategy will prove critical to our corporate goals, and we look forward to seeing Michael play a fundamental role in the long term. success.”
Michael holds a Bachelor of Science degree in Business Administration, Finance from Carnegie Mellon University, where he graduated with honors.
“As I pursued career opportunities with banks positioned to capitalize on the future of fintech, I focused on finding an institution committed to two key goals: excelling in small business lending and investing in a long-term vision of fintech growth,” Yang said. “As a top 10 SBA lender nationwide with a leadership team that understands the importance of this investment, it was an easy decision to be a part of what’s next at BayFirst.”
About BayFirst National Bank
Headquartered in St. Petersburg, BayFirst National Bank, the principal subsidiary of BayFirst Financial Corp., operates (NASDAQ: BAFN), eight banking centers in the Tampa Bay area and produces mortgages locally. In addition, BayFirst offers a wide range of personal and business banking services, including small business loans through its SBA lending division, CreditBench, and is one of the top-producing SBA lenders in the country. Since opening in 1999, BayFirst has grown exponentially without losing sight of its commitment to impacting society and being Here for What’s Next® in its customers’ lives. For more information visit: www.BayFirstFinancial.com.
About BayFirst Financial Corp.
BayFirst Financial Corp. is a registered bank holding company that began operations on September 1, 2000. Its primary source of income is from its wholly-owned subsidiary, BayFirst National Bank (f/k/a First Home Bank), which began operations on February 12, 1999. BayFirst National Bank is a national banking association. The bank currently operates eight full-service offices and was among the top eight in dollar volume and number of units originated nationwide through the fourth quarter ended September 30, 2022 of the SBA’s fiscal year 2022. In the five-county Tampa Bay market, BayFirst was proud over ranking number one by both dollar volume and number of units originated in the same period.
BayFirst Financial Corp., through the bank, offers a wide range of commercial and consumer banking services, including various types of deposit accounts and loans for businesses and individuals. As of September 30, 2022, BayFirst Financial Corp. $930.3 million in total assets.
Forward-looking statements
In addition to the historical information contained herein, this presentation includes “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, the effects of COVID the -19 pandemic, global military hostilities or climate change, including their effects on the economic environment, our customers and our operations, as well as any changes in federal, state or local government laws, regulations or orders relating thereto; the Company’s ability to implement its strategy and expand its banking business; changes in interest rates and other general economic, business and political conditions, including changes in financial markets; changes in business plans as circumstances warrant; risks related to mergers and acquisitions; changes in benchmark interest rates used to price loans and deposits, changes in tax laws, regulations and guidance; and other risks detailed from time to time in filings by the Company with the SEC, including, but not limited to, the “Risk Factors” described in our most recent Form 10-K and Form 10-Q. Readers should note that the forward-looking statements included herein are not a guarantee of future events and that actual events may differ materially from those made in or suggested by the forward-looking statements.
Media contact:
Megan Brewster
AVP, PR at BayFirst
(617) 285-0771
[email protected]
