Industry Veteran Mark Aquilina Joins WEX to Lead Product Strategy
PORTLAND, Maine– WEX (NYSE: WEX), a leading financial technology service provider, today announced an organizational restructure with the formation of a new Corporate Payment Solutions team. WEX processed nearly $40 billion in transactions globally on its platform in 2019 and is the eighth-largest issuer of commercial cards in the U.S. ranked by purchase volume per The Nilson Report 2019. The new team’s focus will be on the $27 trillion domestic B2B payments market per Mercator Advisors (2019), utilizing the agility of WEX technology to offer greater flexibility and choice to customers amidst an evolving economic landscape.
To lead product strategy and management for front-end applications and cloud-native processors, WEX has appointed Mark Aquilina, SVP, Product and Strategy of Corporate Payment Solutions. Aquilina previously served as Senior Vice President at Mastercard where he was responsible for a large portfolio of payment products—virtual cards, purchase, travel and fleet cards, strategic fintech partnerships and issuer technology platforms—across all B2B Card and Real-Time Payments product channels.
“As a globally recognized leader in B2B product innovation, WEX sets a standard in the industry with their market-leading technology capabilities, agility in the marketplace and people-first culture,” said Aquilina. “I knew immediately that this was the place I wanted to be.”
As part of its innovation strategy, WEX’s development teams are building cloud-native solutions on a microservices-based architecture to boost payment speed and efficiency. WEX experts understand the global complexities of payments and continue to innovate to provide customers choice, drive new capabilities and set a higher standard of payment.
“Our payment management platform has been at the forefront of leading industry standards for more than a decade and is trusted by large enterprises, financial institutions and technology partners,” said Jay Dearborn, president of WEX’s Corporate Payments division. “As a leading pioneer in the commercial payments space for more than 20 years, we are thrilled that Mark is bringing his industry expertise to WEX to ensure we continue to innovate on our current capabilities.”
Poised to capture domestic B2B payments market share, Corporate Payment Solutions will serve the unique payments needs of financial institutions, technology partners and corporate customers. Focused on go-to-market strategy and growth, Greg Sassone has been elevated to the newly-created role of SVP, Business and Partner Growth, Corporate Payment Solutions. Prior to joining WEX in 2015, Sassone held senior roles in commercial payments at Mastercard and Citibank.
“Greg is a proven talent here at WEX and uniquely understands the payment challenges of our partners across different industries as we continue to grow our focus on the needs of the corporate Accounts Payable market and collaborative partnerships. His experience aligns perfectly with Mark’s background and I couldn’t think of a better team,” Dearborn said.
To support the unique operational needs of this segment, WEX also appointed a new operations leader in Corporate Payment Solutions, Dylan Jones, VP, Operations. He will oversee the end-to-end client journey and expansion of value-added services for B2B clients and partners including analytics, supplier engagement and payment delivery capabilities. Jones has held strategic planning and operations leadership roles at WEX and brings to this opportunity prior experience in strategy and transformation from Capital One.
“We’ve seen that an intense focus on enhancing both buyer and supplier experience is key to our B2B offerings, and WEX is uniquely positioned to drive innovation through these services with our breadth of in-house expert teams and tools,” said Dearborn.
Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 5,000 associates around the world. WEX fleet cards offer 14.9 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions grew to $39.6 billion in 2019; and the WEX Health financial technology platform helps 390,000 employers and 31.8 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.