Matt Carberry of The Bancorp joins the Federal Reserve Faster Payments Task Force

WILMINGTON, Del.--(BUSINESS WIRE)--Jul 15, 2015--The Bancorp (NASDAQ: TBBK) is pleased to announce that Matt Carberry (Vice President, Business Development, Payment Acceptance), has joined the Federal Reserve's Faster Payments Task Force.

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Matt Carberry, Vice President, Business Development, Payment Acceptance, The Bancorp (Photo: Business Wire)

The Faster Payments Task Force will engage in advancing the work outlined in "Strategies for Improving the U.S. Payments System," which was published by The Federal Reserve in January 2015. The Faster Payments Task Force itself was launched in March 2015, and will identify and evaluate alternative approaches for implementing safe, ubiquitous, faster payment capabilities in the United States. The more-than-350 member committee met for the first time in June and will continue to hold meetings through the rest of the year.

Faster Payments Task Force member Matt Carberry joined The Bancorp in 2008 and has been collaborating with and helping empower large-scale payments aggregators in the bill payment, funds transfer, merchant processing, payroll and fintech industries. His primary focus has been leveraging existing infrastructures and building new systems to develop greater efficiency of payments while improving risk mitigation. Matt is a member of NACHA's Council for Electronic Billing and Payments.

"It's a great honor to be joining this important new Task Force," said Carberry. "We know that any new payments system has to benefit all parties involved in order to have staying power; this new task force is a tremendous opportunity for all of us involved to make the important recommendations that will make our payment system fairer, faster and safer."

Gail Ball, Chief Operating Officer of The Bancorp, commented, "The Federal Reserve's Faster Payments Task Force promises to identify and provide ways to implement safer and faster payment capabilities in the United States. As a significant player in the payments arena, we have a unique perspective that arises from interacting daily with consumers making payments, businesses accepting payments, and the processors who support them. We are proud to contribute to this new task force, and I know that Matt Carberry, with his years of knowledge and experience, will play a vital role in helping the task force best achieve its expectations."

About The Bancorp

With operations in the U.S. and Europe, The Bancorp (NASDAQ: TBBK) is dedicated to setting a new standard in financial services and payments innovation. The Bancorp specializes in providing private-label banking and technology solutions for non-bank companies ranging from entrepreneurial start-ups to those on the Fortune 500. The Bancorp Bank, one of The Bancorp's financial institutions, has been recognized as a National Preferred SBA Lender, a top custodian of Health Savings Accounts, a top ACH Originator, one of the nation's largest credit card transaction acquirers and is the leading issuer of prepaid cards. For more information please visit www.thebancorp.com.

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CONTACT: The Bancorp, Inc.

Andres Viroslav, 215-861-7990

aviroslav@thebancorp.com

KEYWORD: UNITED STATES NORTH AMERICA DELAWARE

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: The Bancorp, Inc.

PUB: 07/15/2015 09:00 AM/DISC: 07/15/2015 09:00 AM

http://www.businesswire.com/news/home/20150715005090/en