PHILADELPHIA, PA — Onbe has appointed Melissa Hentschel as chief executive officer and added her to the company’s board, positioning a longtime payments executive to lead the fintech as businesses increasingly move away from checks and legacy consumer payment systems.
Hentschel succeeds Bala Janakiraman, who is retiring after nearly five years as CEO and board member, the company announced Tuesday. Juli Spottiswood will remain executive chairman.
The leadership transition comes as companies across industries including insurance, healthcare, telecom and financial services accelerate adoption of digital consumer payout systems, a market Onbe estimates at roughly $3 trillion.
Hentschel previously served as chief client officer and has been part of the company since its formation. She helped oversee the integration of daVinci Payments and Parago, which combined to form Onbe, and later managed several of the company’s largest enterprise relationships.
Before joining Onbe, Hentschel held leadership roles at Ingo Money and KeyBank. She also served as an operating executive at Parago before its acquisition by Blackhawk Network.
“The demand for a better way to move money to consumers is accelerating across every industry,” Hentschel said. “Onbe is built for exactly this moment.”
Janakiraman joined Onbe at its founding and led the company through its early expansion, growing its enterprise client base and broadening its payout offerings into additional industries and use cases.
“Leading Onbe through its first five years has been the opportunity of a lifetime,” Janakiraman said. “We set out to bring two businesses, two platforms, and two cultures together.”
Onbe, which has offices in Philadelphia, Chicago and London, provides business-to-consumer payment infrastructure for corporate clients ranging from mid-sized companies to Fortune 500 firms. Its platform allows companies to outsource digital payout operations tied to claims, rebates, incentives and compensation payments.
The company said it continues to focus on replacing paper-based disbursement systems with instant digital payment options as consumer expectations for faster payment delivery increase.
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