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Exclusive: Tesorio brings in Bank of America exec to lead working capital solutions

Accounts receivable management platform Tesorio has hired Ann McCormick as head of embedded finance and working capital solutions strategy, GTR can reveal.

Based in Portland, Maine and reporting to Tesorio’s CEO and co-founder Carlos Vega, McCormick joins from Bank of America, where she served as head of global trade and supply chain finance platform strategy. Prior to that, she was the general manager of Paymode-X at Bottomline Technologies, a part of Bank of America’s electronic payments solutions.

In her new role, which is a newly created position, she is tasked with developing and executing a go-to-market and product strategy for Tesorio’s embedded finance and working capital solution product suite, which automates supplier enablement for any programme that requires a buyer to get buy-in from suppliers, such as supply chain finance or procurement programmes. A spokesperson tells GTR that the product suite has been serving Bank of America globally, but that Tesorio has not taken these products to market until now.

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The post Exclusive: Tesorio brings in Bank of America exec to lead working capital solutions appeared first on Global Trade Review (GTR).

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