LOS ANGELES AND IRVINE, CALIF. (Dec. 5, 2019) – Commercial Bank of California (CBC), a BauerFinancial, Inc. Five-Star Superior Bank, today announces the appointment of Jon Lakatos as Senior Director of Business Development and Strategic Partnerships. Lakatos brings more than 15 years of payments industry expertise to his new position at CBC. In his new role, Lakatos will leverage his entrepreneurial spirit to identify opportunities for new fintech partnerships and scale CBC’s payments solutions offerings support clients’ everyday business operations.
“We are sharply focused on growing our payments solutions offerings to empower businesses and entrepreneurs to achieve greater success,” said Ash Patel, president and CEO of Commercial Bank of California. “We are excited to leverage Jon’s extensive network and vast experience in payments processing to grow this division of our business. His philosophy and holistic approach to supporting our clients’ business growth aligns with CBC’s mission to transform the way people think about banking and payments solutions.”
Over the last year, CBC has invested approximately $2 million into researching and developing fintech products, and is finalizing a new payments platform to process ACH and bankcard payments with Atlanta-based payment processing company VeriCheck, Inc. Under Lakatos’ leadership, the company plans to invest an additional $2 million into fintech product development in 2020.
“There is strong demand for better, faster payment processing experiences and CBC is primed to deliver that and other efficiencies for our clients,” said Lakatos. “Our customizable technology paired with personalized service from our Relationship Management team will help businesses of all sizes achieve greater success.”
“We don’t want to be known as a bank; we want to be known as a partner. We don’t want our clients to just park money – we want to develop products with them, and increase their profits,” said Patel. “And Jon will lead the growth for us and our clients with our payments solutions.”
Prior to joining CBC, Lakatos was the director of business development at Processing.com where he helped carve new paths for niche industries and businesses that were not yet processing payments. His personal service and customization of payments solutions allowed many niche businesses to grow to process as much as $10 million in payments each month. Previously, Lakatos served as a director of business development and strategic partnerships at eMerchantBroker.com, where he helped companies leverage merchant services totaling $1 billion processed annually. He has been the go-to partnership builder for large deal companies in need of personal service and customization, but also empowered single-storefront businesses realize greater efficiencies in processing payments. He approaches each client relationship by looking at the whole business and will leverage CBC’s technology, solutions and team members to help protect each clients’ business. Lakatos believes that clients’ success leads to CBC’s success, and his advisory approach extends to services outside of banking and payments that would help the business thrive.
“Our strategy for CBC is to vertically integrate into our client’s journey to success, not just their banking and payments needs,” said Lakatos. “Together with Ash’s vision and the incredible team at CBC, we’re ‘putting our money where our mouth is.’”
About Commercial Bank of California
CBC is a full-service bank and diversified financial services company that serves the business and professional communities of Los Angeles and Orange counties. Recognized as a BauerFinancial, Inc. “Five-Star Bank” for its financial strength and stability, CBC provides the financial expertise of a major bank while maintaining a commitment to personalized service for every CBC customer. More information about CBC’s custom solutions for your business is available at www.cbcal.com.