Newtek Bank Hires Fuad Capric to Boost $275B Real-Time Payments
NEWT•Newtek Bank hired Fuad Capric as Chief Real-Time Payments Officer to integrate its real-time payments platform enabling commercial clients to receive eligible payments instantly. He brings over 20 years of payments experience, leading transformations processing $275 billion annually—$250B in wires, $20B in ACH and $5B in cards.
1. Appointment of Chief Real-Time Payments Officer
Newtek Bank appointed Fuad Capric as Chief Real-Time Payments Officer, reporting to CEO Barry Sloane and CRO Taylor Quinn. In this role, he will integrate the bank’s newly added real-time payments functionality to enable clients to send and receive eligible transactions instantly.
2. Executive’s Payment Experience
Capric brings over 20 years of leadership in payment strategy, operations and transformation across ACH, wire, card and digital channels. At Flagstar Bank, he oversaw transaction ecosystems processing more than $275 billion in annual volume, including $250 billion in wires, $20 billion in ACH and $5 billion in card payments.
3. Launch of Real-Time Payment Solutions
Newtek has rebranded its electronic payments subsidiary as Newtek Real-Time Payment Solutions, unifying merchant services, ACH, Fed wire and card processing into a single platform. The solution integrates directly with the Newtek Advantage® portal, offering real-time analytics and seamless accounting connectivity.
4. Strategic Differentiation
This move positions Newtek to offer small businesses zero-fee business banking, advanced analytics and lower-cost treasury services compared with larger banks and fintechs. The comprehensive, integrated approach aims to simplify payment processing and financial management for independent business owners.
