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Lodo Completes Management Team with Appointment of Sales Director Start-up Team Brings More than 140

October 08 2010

OMAHA, Neb., Oct 07, 2010 (BUSINESS WIRE) -- Lodo Software, a provider of personal financial management (PFM) solutions, today announced the final appointment to its management team with the hiring of Ron Zaysoff as director of sales. The start-up firm is headed by President and CEO Mark Vipond, a 25-year veteran of the software industry. Vipond joined Lodo this year and recruited other long-time software professionals to fill key management positions in product strategy, software development, customer support, marketing and sales.

Lodo develops PFM solutions that banks and credit unions can brand and integrate with their online banking sites.

"Lodo's management team differentiates us from other PFM suppliers," Vipond said. "We collectively have more than 140 years of experience in enterprise class software, most of it in banking solutions. We understand bank project cycles and integration requirements. We understand how to create a business model that will sustain a product software company for many years. We also understand how to deliver and support solutions for banks internationally. These are important strengths that inspire confidence in Lodo's abilities." Vipond was previously president and COO at ACI Worldwide, a global provider of payments software for banks, processors and retailers. He worked at ACI for 23 years and began his career as a systems engineer at IBM.

Joseph McGlynn is CTO and a co-founder of Lodo with 25 years of industry experience. Formerly with webMethods and Software AG, he was awarded several patents while at AT&T Bell Laboratories. McGlynn is experienced in SOA, enterprise architecture, and in major integration projects at leading financial institutions including ABN AMRO, Bank of America, Wells Fargo, National City Bank, Capital One, and Banque National du Canada.

Other members of Lodo's management team include: Harry Gardner, director of development -- 20+ years of experience in IT including positions as director of technology and chief systems architect Sheryl Denison, director of services -- 30 years of experience in financial services and software with experience spanning customer education, documentation, QA, installation, consulting and sales support Ron Zaysoff -- 25 years in banking software sales to financial institutions worldwide Judy Hartlieb -- 20+ years of experience in marketing technology solutions to financial institutions Vipond cited unique product capabilities and Lodo's business model as other key differentiators of the company.

Lodo's OurCashFlow is designed to be bank-branded, includes built-in tools that simplify administration and support, and features a patent-pending community learning model that automates expense categorization with an exceptionally high accuracy rate. The software also helps banks gain a holistic view of their customers' financial positions to more effectively target products and services to cross-sell. As a business, Lodo is solely focused on developing product software that banks can brand and host as their own. "Our R&D is not diluted by hosting a Lodo-branded ASP service or by marketing a free online PFM directly to consumers," Vipond said. Lodo's pricing model makes it a partner in customers' success, as most of the company's revenue is tied to end-user adoption of the PFM services it enables.

PFMs allow consumers to track their financial account balances and net worth, analyze spending, and monitor savings goals and personal budgets through graphical charts and tables. PFMs often aggregate information from multiple financial service providers -- for example, banks, credit card issuers, mortgage lenders, investment firms -- to present a consolidated financial picture via a single, secure portal hosted on a bank's web site.

Vipond said, "Banks are in the early days of deploying PFM services to nurture customer loyalty and relationships. While nonbank PFMs have captured consumers' attention, we believe financial institutions will widely adopt these services over the next three to five years, integrating them with their trusted online banking sites. Lodo intends to be a major player in helping banks, credit unions and core bank processors offer world-class PFM services." About Lodo Lodo Software develops personal financial management solutions that banks and credit unions can brand and integrate with their online banking sites. Core processors integrate the software with their online banking solutions to add new value for financial institution clients. Lodo is headquartered in Omaha, Neb., with product development based in Denver, Colo. Learn more at

SOURCE: Lodo Software CONTACT: Lodo Software Judy Hartlieb Director of Marketing Mobile: +1.402.210.8071 .(JavaScript must be enabled to view this email address) Copyright Business Wire 2010 -0- KEYWORD: United States

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