FOLSOM, Calif.--(BUSINESS WIRE)--Aug 6, 2024--
One Inc, the leading digital payments network for the insurance industry, today announced the appointment of Michael Ellis as the company’s new Chief Financial Officer (CFO), effective August 5, 2024. As CFO, Ellis will be responsible for overseeing the company’s financial activities and will help guide One Inc’s future direction in collaboration with Chief Executive Officer Ian Drysdale, to whom he will report.
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Ellis joins One Inc with over 30 years of experience and a record of success in scaling payment technology companies. Ellis served as CFO at Flywire (NASDAQ: FLYW), a global payment solutions provider. He led them through their 2021 IPO, and was responsible for the company’s financial, investor relations, FP&A, treasury and tax teams. Ellis also was CFO & Advisor to BillGO, a bill pay platform and network for the world’s largest banks and Fintech companies.
Earlier in his career, he served as the CFO at CashStar, a provider of digital gifting solutions for retailers, the CFO of Eze Castle Software, and has held a variety of leadership positions including Controller at the Massachusetts Port Authority, VP Finance at Flagship Ventures and Director, Transaction Services at PwC LLC.
“Michael’s proven track record, strong business leadership, and history of delivering results will be invaluable as we continue to innovate and drive growth in the rapidly evolving digital payments infrastructure landscape,” said Ian Drysdale, CEO of One Inc. “I look forward to working closely with Mike and the One Inc leadership team in support of our goals to extend our category leadership and deliver on our vision of enabling insurers to deliver a best-in-class digital payment experience for their customers.”
The announcement comes as the Folsom-based company looks to expand its digital payments platform, foster product innovation, and create new opportunities to offer solutions that enhance efficiency and increase revenue for modern insurers. Earlier this year, Nordic Capital announced it joined Great Hill Partners as an investor in One Inc.
"I am thrilled to be joining One Inc, a company known for its best-in-class reputation for innovation in the digital payments space,” said Michael Ellis, CFO at One Inc. “The insurance industry is challenged by a landscape shaped by digital transformation and economic shifts which demands constant reinvention and optimization. I look forward to collaborating with the talented team at One Inc to scale the business, drive our financial strategy and deliver exceptional value to our stakeholders and clients, supporting our continued growth and leadership in the market."
One Inc has 750 resources, handles annual payments of USD 81 billion, and has one of the largest networks in the industry with over 760,000 vendors. One Inc proudly serves over 245 customers in the insurance industry, including Amica Insurance, MAPFRE, SageSure, Tower Hill Insurance, Wawanesa Insurance, and others.
About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications and rapid digital claim payments, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments.
For more information, please visit www.oneinc.com.
Michael Ellis (Photo: Business Wire)
COLOMBO, Sri Lanka (AP) — Sri Lankans began voting Saturday in a presidential election that will determine the course of the country's recovery from its worst economic crisis and resulting political upheaval.
The election, contested by 38 candidates, is largely a three-way race among incumbent liberal President Ranil Wickremesinghe, Marxist-leaning lawmaker Anura Kumara Dissanayake, and opposition leader Sajith Premadasa.
There are 17 million eligible voters, and final results are expected Sunday.
The results will show whether Sri Lankans approve of Wickremesinghe's leadership over the country's fragile recovery, including restructuring its debt under an International Monetary Fund program after it defaulted in 2022.
The government announced Thursday that it passed the final hurdle in debt restructuring by reaching an agreement in principle with private bond holders.
Sri Lanka’s local and foreign debt totaled $83 billion at the time it defaulted, and the government says it has now restructured more than $17 billion.
Despite a significant improvement in key economic figures, Sri Lankans are struggling under high taxes and living costs.
Both Premadasa and Dissanayake say they will renegotiate the IMF deal to make austerity measures more bearable. Wickremesinghe has warned that any move to alter the basics of the agreement could delay the release of a fourth tranche of nearly $3 billion in assistance pledged by the IMF that's crucial to maintaining stability.
Sri Lanka’s economic crisis resulted largely from excessive borrowing on projects that did not generate revenue. The impact of the COVID-19 pandemic and the government’s insistence on using scarce foreign reserves to prop up the currency, the rupee, contributed to the economy’s free fall.
The economic collapse brought a severe shortage of essentials such as medicine, food, cooking gas and fuel, with people spending days waiting in line to obtain them. It led to rioting in which protesters took over key buildings including the president’s house, his office and the prime minister’s office, forcing then-President Gotabaya Rajapaksa to flee the country and resign.
Wickremesinghe was elected by a parliamentary vote in July 2022 to cover the remainder of Rajapaksa’s five-year term. Now, Wickremesinghe is seeking another term to strengthen the gains.
However, many people accuse him of protecting members of the Rajapaksa family, whom they blame for the economic crisis.
Wickremesinghe, who was the only member of his party in Parliament, was elected mainly with the votes of Rajapaksa loyalists. They also supported him as members of his Cabinet and in voting for the reforms he proposed.
Polling officers set up their booth in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
A police officer stands guard as polling officers set up their booth in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
People wait in a queue to casts their votes at a polling station in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
People wait in a queue to casts their votes at a polling station in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
Sri Lankan president and independent presidential candidate Ranil Wickremesinghe shows indelible mark on his baby finger after casting his vote, in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
Sri Lankan president and independent presidential candidate Ranil Wickremesinghe reacts after casting his vote, in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
Sri Lankan president and independent presidential candidate Ranil Wickremesinghe arrives to cast his vote in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
Sri Lankan police officer stands guard as voters queue to cast their vote at a polling center for presidential election in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
Sri Lankan police officer stands guard as voters queue to cast their vote at a polling center for presidential election in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
Sri Lankan show their baby fingers marked with an indelible ink after casting their vote at a polling center for presidential election in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Rajesh Kumar Singh)
A person shows indelible mark on his finger after casting his vote in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Eranga Jayawardane)
People stand in a queue to cast their votes in Colombo, Sri Lanka, Saturday, Sept. 21, 2024. (AP Photo/Eranga Jayawardane)
Election officials leave a distribution center after collecting polling material for the upcoming presidential election, in Colombo, Sri Lanka, Friday, Sept. 20, 2024. (AP Photo/Eranga Jayawardena)
Police officers wait for transport to travel to polling stations ahead of the upcoming presidential election, in Colombo, Sri Lanka, Friday, Sept. 20, 2024. (AP Photo/Eranga Jayawardena)
A police officer stands guard outside a polling material distribution center ahead of the presidential election, in Colombo, Sri Lanka, Friday, Sept. 20, 2024. (AP Photo/Eranga Jayawardena)
Sri Lanka's opposition leader and presidential candidate Sajith Premadasa speaks to his supporters during a public rally in Thalawakele, Sri Lanka, Sunday, Sept. 8, 2024. (AP Photo/Eranga Jayawardena)
Leader and the presidential candidate of National People's Power Anura Kumara Dissanayake speaks to supporters during the final public rally ahead of the election in Colombo, Sri Lanka, Wednesday, Sept. 18, 2024. (AP Photo/Eranga Jayawardena)
Sri Lanka's president Ranil Wickremesinghe speaks during a public rally in Colombo, Sri Lanka, on Aug. 28, 2024. (AP Photo/Eranga Jayawardena)
Women election officials walk past security personnel outside a distribution center before collecting polling materials for the upcoming presidential election, in Colombo, Sri Lanka, Friday, Sept. 20, 2024. (AP Photo/Eranga Jayawardena)
