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Digiliti Money Announces Management Change

MINNEAPOLIS, MN - Digiliti Money, Inc. (NASDAQ:DGLT), a leading mobile FinTech provider, announced that Jeffrey Mack has resigned from the Board of Directors and from his position as President and Chief Executive Officer, effective immediately.  Digiliti Money’s Executive Vice President and Chief Financial Officer, Bryan Meier, will assume the position of interim CEO, while Mack will serve as a consultant for the company as it continues to grow.

“I would like to thank Jeff for his service and contributions to Digiliti Money over the years,” said company Chairman James L. Davis. “Jeff has been instrumental in helping Digiliti transform from a pure-play remote deposit capture provider into a mobile money technology leader.”

Interim CEO Bryan Meier stated that, “In light of the recent management change and our preliminary Q2 results, we will be evaluating the Company’s go forward strategy. Our near-term focus will be on our core products, growing our existing customers, and becoming more selective about the opportunities we pursue. In addition, we are reducing our cash burn to improve our bottom line performance, which we are demonstrating with the implementation of our recent cost-cutting initiatives intended to reduce our annual operating expenses by nearly $3 million.”

Digiliti Money (NASDAQ:DGLT) is a leading cloud-based, SaaS technology provider for the now way to bank, serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in 2010, Digiliti Money has quickly grown into a technology leader and trusted partner to some of the world’s largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Digiliti Money continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.

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