PayNet announced the promotion of Anthony Zambon as director, Canadian market.
Paynet said to fill in thin credit information on private companies, Zambon will help Canadian lenders adopt PayNet’s Credit History Reports into their current credit granting process. These reports are now available through PayNet’s On-Line system to provide Canadian commercial finance lenders with exclusive credit profiles on hundreds of thousands of privately held businesses.
A veteran of the financial services industry, Zambon was chief sales officer and vice president of operations at CIT Vendor Finance Canada with responsibility for sales growth and profitability for the Office and Technology Finance business unit. Prior positions included senior roles at GE Capital Vendor Finance Canada as industry manager and national sales manager.
“Credit risk and operating costs are major business issues for Canadian lenders. Anthony’s efforts as Director will help lower credit risk and reduce operating costs for PayNet members. Ready access to information has shown to reduce risk for lenders and assist the flow of much needed capital to a variety of Canadian private businesses,” states William Phelan, president, PayNet.