Form3 hires ex-SWIFT Chief Executive for US Market Expansion

By Edlyn Cardoza

Form3, a leading cloud-native payment technology provider, recently announced it has strengthened its Executive Management team to expand its geographical footprint and product offering in the US, to capture market opportunities in payment technology.

Dave Scola joins as Chief Executive for the US to lead the company’s expansion into the US market as Form3 builds out its product capability to include Real-Time Payments and Automated Clearing House connectivity with both the Federal Reserve and The Clearing House.

Dave has over 20 years of experience in transaction banking and payments services and has extensive experience leading large, multi-functional teams in financial services. Dave joins Form3 from SWIFT, where he was Chief Executive of the Americas, UK, and Ireland. Previously, Dave was Head of Financial Institutions for Barclays Corporate Bank based in London and New York, and he has also worked in transaction banking at Deutsche Bank and Bank of New York.

Michael Mueller, Chief Executive Officer of Form3, said: “The US market is an enormous opportunity for Form3 and it was essential that we find the right leader to spearhead our growth there. For that reason, I am delighted to welcome Dave as our US Chief Executive. He is an experienced leader with deep knowledge of the payments landscape and the US market with a successful track record in transformation and innovation. His passion for driving large, multi-functional teams aligned against the needs of a broad set of financial institutions aligns with Form3’s customer-first approach to transform payments technology, together with our customers and partners around the globe.”

Dave Scola, Chief Executive, US, commented: “I couldn’t be more excited by the opportunity to lead Form3’s expansion into the US. The combination of cutting-edge technology combined with deep payments expertise creates a powerful platform to help financial institutions address the growing need to modernize their payments platforms – particularly as they contemplate challenging market events like ISO 20022 conversion and the roll-out of FedNow. I’m very much looking forward to working with our customers and partners in enabling the future of payment technology.”

Form3 already employs over 340 people in 27markets and expects to grow in people terms by around 60% in the next 12 months. As the single largest payment market globally, the US is an essential part of that growth strategy.