Outstanding 2020 performance makes way for company shift to secure identity
Panini, a global payments technology provider, is pleased to announce that effective January 1, 2021, Richard Kane joined the company as Chief Executive Officer and will lead the company’s transformation and continued growth. Additionally, the company will move its headquarters to a new, modern location in Torino, Italy.
Panini just concluded an outstanding year in 2020, reporting solid growth in consolidated revenues, EBITDA and cash flow, allowing the Group to position itself as a leading player in the secure payment and identity solutions industries. This was mostly due to the tremendous success of EverneXt, its flagship intelligent scanner, in bank branch check image capture, confirmed dominant market share in the remote deposit capture (RDC) space, and initiation of the company’s first secure identity-related projects.
“In 2020, Panini worked through limitations and difficulties related to COVID-19 thanks to the relentless engagement of our entire staff,” says Vittorio Levi, Chairman, Panini. “These outstanding results position our now debt-free company to invest and grow further with expansion of secure identity solutions and a renewed effort in international markets.”
Leading these efforts as the company’s new CEO, Richard Kane comes to Panini from Canon Solutions America where he has spent the last decade successfully managing sales and operations in various executive roles. “Richard is a dynamic, high performing leader with twenty-five years of proven ability to build and manage teams that generate record sales and profits in highly competitive industries,” adds Levi. “We’re confident he’s the right person to lead Panini through our reinvention and beyond.”
In addition to the promising changes in leadership, Panini is also moving their corporate headquarters to a modern, open building in Torino, Italy which is better aligned with the company’s fast-paced, technology-driven culture. Located in a renovated, state-of-the-art facility in a former industrial area, the new office space supports effective collaboration thanks to modern amenities and a fresh design based on glass, bright colors and live plants. The company plans to move in April.
“Panini is experiencing significant, exciting changes, but we’d be remiss not to thank the leader who guided us to this point,” says Vittorio Levi. “The entire Panini family is beyond grateful for Michael Pratt’s unwavering dedication and commitment to our company for nearly two decades.”
Michael Pratt adds, “I am very proud of the team at Panini for all we have achieved together, and want to express my sincere gratitude to Panini’s customers, partners, and shareholders. The decision to retire was a difficult one, especially given my strong connection to the Panini family spanning decades and generations, but I leave knowing the company is poised for continued success in the next chapter of its amazing story.”
Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for 75 years. Panini has a rich history of innovation, resulting in market leading solutions based on state-of-the-art engineering and ISO 9001 quality certified production. Panini improves customer efficiency and fraud prevention via trusted and innovative technologies for check truncation and secure identity. The company’s scalable check capture systems address the complete range of distributed capture opportunities, resulting in the world’s largest deployed base of scanners, and their expanding portfolio of secure identity technologies includes reliable, user-friendly options for identity verification and authentication. Panini operates on a global scale, and has a direct subsidiary in Dayton (OH), USA to cover strategic North American markets.
For more information visit: www.panini.com