Market Overview

Switch, Inc. Secures Former Mastercard Worldwide Executive, Carol A. Cosby, to Its Board of Directors


Fintech Company Provides Smart Tools to Banks, Card Issuers and
Online Merchants to Improve Profitability and Customer Satisfaction
During Credit Card Replacement; Keeps Cards Top of Wallet™

, a Seattle-based financial technology company offering the only
comprehensive technology platform to solve the credit card management
and replacement problems for consumers, card issuers and merchants,
announced today that the company continues to attract powerhouse
financial industry leaders to its company, with the addition of former
Mastercard executive Carol
A. Cosby
to its board and as a company advisor.

This press release features multimedia. View the full release here:

Former Mastercard Worldwide Executive, Carol A. Cosby, Joins Switch, Inc. Board of Directors (Photo: ...

Former Mastercard Worldwide Executive, Carol A. Cosby, Joins Switch, Inc. Board of Directors (Photo: Business Wire)

"Switch technology is the disrupter the financial industry needs and at
a pivotal time," said Cosby. "The company is providing banks, issuers
and online merchants one-of-a-kind tools to make them smarter and more
profitable during the credit card replacement process, while
simultaneously improving customer satisfaction and keeping cards Top of
Wallet™. No one in the fintech payments business is offering this
technology and making it easy to integrate into existing operations."

Cosby is most recently a former Mastercard Worldwide Executive Vice
President, and has served multiple high-ranking executive positions
across international credit card companies and banks over the last
several decades. Prior to Mastercard, Cosby was Senior Director of JP
Morgan Chase and Senior Vice President at VISA.

Cosby joins existing board members, company CEO and Co-Founder Chris
Hopen, a technology veteran and entrepreneur who also founded Tappin,
which was acquired by Globalscape in 2011; Spry Internet-in-a-Box and
DataChannel Founder and Switch Co-Founder Dave Pool; accomplished CEO
and wireless pioneer Rich Begert; and consumer payments and loyalty
executive Kevin Knight.

"Our company's differentiated offerings and ability to proactively solve
big industry issues is resonating with financial leaders. We are elated
to add such valuable financial industry veterans like Carol. She will
bring her deep financial, payments and banking insight, experience and
relationships to Switch," said Hopen. "Carol will help facilitate the
evolution of our business by providing access and opportunities that are
central to the next phase of our development."

"As a banking and payments executive, I have felt the painful issues
being addressed by Switch," added Cosby. "I am impressed not only by the
exclusive capabilities of the company's technology, but also by the
ingenuity and operational acumen of those in and surrounding the
organization. I look forward to contributing to the company's
development and growth."

Switch announced its breakthrough API, CardSavr™,
earlier this year, to positive response from the industry for its
revolutionary approach. The company continues to announce product
enhancements and new applications of the platform to address huge
financial industry opportunities, such as the integration of voice
, and its role in propelling
virtual credit adoption
and easing the issues around co-branded
card reissuance

CardSavr API helps issuers place their credit cards into use
instantaneously by provisioning cards on thousands of merchant sites in
real time, alleviating batched file transfer processes.

The new technology will help redeem millions of lost purchasing dollars
for financial institutions and retailers, who are hit hard when consumer
credit cards are out of circulation. The
Financial Brand
reports that banking customer attrition rates are
around 11%, and annual churn rates on first year customers are as high
as 20-25%. Many of those customers are lost in the first 90 days. Banks
need to create positive experiences for consumers to keep them. You can
learn more about the CardSavr experience at

About Switch, Inc.

Headquartered in Seattle, Switch creates one-of-a-kind cardholder
experiences that inspire loyalty, leading to recaptured and increased
card revenue by keeping cards Top of Wallet™. The company's secure,
proprietary and patent-pending automation technology gives cardholders
the ability to manage and update all of their online accounts in one
place. You can learn more about Switch at
or follow the company on Facebook
and Twitter.

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