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ClearXchange Names Michael Kennedy Chief Executive Officer

Kennedy earned his Bachelor of Science with distinction and Masters of Science degrees in Industrial Engineering from Stanford University and his MBA with distinction from Harvard Business School.

About clearXchange

Founded in 2011, clearXchange is a joint venture among Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM). With the broadest network of digital bank customers in the U.S., clearXchange provides an innovative way for financial institutions to personalize payments and reach customers. It is the first network in the U.S. created by and for financial institutions that lets customers send person-to-person payments easily and securely. With only the recipient’s mobile number or email address, customers can send funds directly from their bank account to the recipient’s bank account without requiring sensitive account information. The safety and convenience of clearXchange allow customers to move from cash and check to more user-friendly bank digital channels. The company operates from offices in San Francisco and Charlotte, N.C. For more information, visit http://clearXchange.com.

1From the August 2012 Aite report “Sizing Online and Mobile Banking P2P payments in the United States.”

Copyright Business Wire 2010
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