Todd Clyde, CEO, Token

Token.io, a San Francisco-based open banking platform provider, has appointed Todd Clyde as the new Chief Operating Officer (CEO) while the company’s founder & current CEO, Steve Kirsch, has assumed the role of Chief Innovation Officer (CINO).

However, Steve will retain his position on the company’s Board, according to a statement.

Todd has assumed the role following three years of service as Token’s Chief Operating Officer (COO).  He has spent 33 years in the enterprise and financial software industry, encompassing 12 years at Accenture and 21 years bringing new technologies to market at four unnamed startup firms, including a $2bn exit.

As CINO, Steve Kirsch will primarily focus on the development of Token’s digital money business including Token X, a digital currency technology designed for banks, the company said in a statement.

On the leadership change, Steve commented that it will help him focus on Token’s product offerings, including incubating and launching the company’s bank-friendly digital currency.

Token is an open banking platform provider with offices in San Francisco, London, and Berlin. Its PSD2 (Revised Payment Service Directive) compliant API and Smart Token technology offer banks a quick and simple path to compliance, and the ability to leverage open banking to generate new revenue streams.

The supplier’s developer portal and single API to access all banks ease-out account-to-account payment methods and data aggregation solutions for the customers. Merchants also benefit from lower costs, new payment propositions, richer customer spend data and better user experience.

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by Sheeba Bhagat Dawar
Market Analyst at IBS Intelligence
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