California Bank Adds BillFloat CEO to Its Board

Bank technology

Alternative Lenders Parse the Subprime Market with Google-Like Data Analysis

Former Google CIO Douglas Merrill believes his firm, ZestCash, can jump-start the subprime lending market with an alternative underwriting engine that uses thousands of consumer data points and proprietary math to aid loan decisions.

By John Adams

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River City Bank in Sacramento, Calif., has named a payments-technology veteran to its board of directors.

Ryan Gilbert, the chief executive of BillFloat, will help shape River City's products and services — including a mobile banking app for smartphones and the development of future payment strategies, the $1.1 billion-asset River City said Tuesday.

Gilbert co-founded BillFloat, which provides alternative consumer credit by paying customers' bills for a processing fee plus interest.

Gilbert has also served in roles at Propertybridge, MoneyGram International, Wells Fargo Bank and the former Andersen Consulting, which is now Accenture. Propertybridge was acquired by MoneyGram in 2007.

Jackie Stewart

Executive Editor, American Banker Magazine

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