Ethoca Names Former LexisNexis CEO Andrew Prozes to its Board of Directors
TORONTO, Ontario, Canada, June 25, 2013 – Ethoca, the leading technology company that helps card issuers and online merchants collaborate to stop fraud and accept more transactions, has named Andrew Prozes to its Board of Directors.
Mr. Prozes was formerly Chief Executive Officer of LexisNexis Group, and served on the board of Reed Elsevier for 11 years. He currently serves on the board of directors of Cott Corporation, Interactive Data Corporation, ACAMS and Scribestar. Most recently, he served as a senior adviser to Warburg Pincus. During Andrew’s tenure at LexisNexis, a provider of legal information and risk management solutions, including predictive analytics tools for card-not-present fraud detection, revenues grew from USD $1.7B to more than $4B.
“As a director, Andy will be integral to furthering Ethoca’s development and growth strategy,” said Andre Edelbrock, Ethoca’s Chief Executive Officer. “His expertise in growing global information and technology businesses serving the risk solutions industry fits perfectly with Ethoca’s services and markets. Andy’s decision to join our board is testament to Ethoca’s significant opportunity to accelerate growth and market acceptance.”
Over the past two years, Ethoca has become widely recognized as a provider of proven technology that enables card issuers and e-commerce merchants to collaborate to stop fraud losses and recapture lost revenue. During this time, Ethoca has signed leading card issuers representing more than 50 percent of online transaction volume in the U.S., Canada and the UK, and signed agreements with major card companies. In addition, Ethoca’s customers include more than half of the top 100 e-commerce merchants. The company’s next phase will focus on accelerating card issuer and online merchant customer acquisition, with the goal of capturing the majority of small- and medium-sized online merchants.
Over the next five years, Ethoca plans to grow its share of the card-not-present revenue protection and fraud prevention market. The company will increase the adoption of its flagship Alerts service, and launch several innovative services already proven to further help online merchants and card issuers reduce card-not-present fraud losses and increase customer revenue. The appointment of Andrew Prozes to its Board of Directors is just one example of Ethoca’s continued commitment to the investment in leadership and technology innovation needed to support its aggressive growth.
Mr. Prozes earned an MBA from York University and his Bachelor of Mathematics from the University of Waterloo in Canada. Andy is a past Chairman of The U.S. Information Industry Association, and previously served on the boards of the Information Technology Association of Canada and the Canadian Newspaper Association. Andy is a Board Member of the National Executive Services Corporation, and a Board and Executive Committee Member of The Atlantic Council of the United States.
He is married to Laura, a practicing architect. He has Canadian, U.S. and European Union (Estonian) citizenships and passports.
“Andy’s achievement-filled career has spanned industries and continents, and is marked by his determination to identify and capitalize on opportunities in an ever-changing landscape,” said John Fielding, Ethoca Chairman. “These qualities will be especially important as Ethoca furthers its business in markets in the United States, Canada, UK and Europe, as well as establishing business in the Americas and Asia Pacific.”
About Ethoca – Ethoca is the leading, global provider of collaboration-based technology that enables online merchants and card issuers to work together to stop fraud, accept more transactions and protect revenue. Ethoca closes the information gap between card issuers and merchants, making valuable information securely available and actionable in real-time. This unique capability delivers significant cost savings and efficiencies to the company’s unique card issuer and merchant customers. To find out more, please visit www.ethoca.com.