BillFloat Signs 40 Year Banking Expert to Expand Relationships with Banks, Advancing Adoption of Alternative Consumer Credit Offerings

SAN FRANCISCO, Jan. 25, 2012 /PRNewswire/ -- BillFloat, Inc., the nation's only provider of "more time to pay" credit and underwriting solutions for consumer bill payment, announced today that Brian Garrett, a 40-year banking veteran has joined the company as senior advisor. Previously, Garrett has served as CEO of four community banks, and most recently was the CEO of Community Bank of the Bay in Oakland, Calif.

In his new role, Garrett will guide BillFloat's relationships with traditional financial institutions, as the company works to offer banked customers "more time to pay" financial options that augment traditional bank services. Garrett will help BillFloat expand its banking business strategy and marketing platform, maximizing the strengths of the company to best work with banks, their customers and regulators.

"BillFloat marks a welcome transition for my career, as I look to bridge the gap between this fast-paced financial services start-up, and established financial institutions," said Garrett. "I will be taking my community banking experience and using it to introduce BillFloat and our innovative payment and underwriting solutions to the broader banking community."

During his 40-year career, Garrett was a founding officer of two start-up community banks. He was hired as CEO of three different troubled banks, overcoming regulatory obstacles and returning each financial institution to profitability. Garrett has served as director and chairman of several community bank trade associations and served on the board of the California Independent Banks.

"With the addition of Brian to our team, we look forward to advancing our banking strategy and launching a series of new partnerships," said Ryan Gilbert, CEO of BillFloat. "We've been working with Brian for more than 18 months, and were tremendously impressed with the banking expertise he's amassed during his 40-year career."

BillFloat offers consumers "more time to pay" bills with more than 2,500 billers and e-tailers nationwide, including leading phone, cable, utility and insurance providers. BillFloat loan proceeds are applied directly to the consumer's biller account and are repayable up to 30 days later, helping avoid late fees, service interruptions, overdraft fees and high-cost loans. Online enrollment is open to all consumers with bank accounts and valid identification.

About BillFloat, Inc.

BillFloat offers consumers "more time to pay" their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans. Billers including utility providers, cable companies, wireless carriers, insurers and leading e-tailers accelerate their cash flow through BillFloat's easy to implement and secure system. The service is available on billers' websites and through financial services partners, including prepaid and debit card issuers, payroll services, walk-in payment centers, and billfloat.com. BillFloat is based in San Francisco, California with investment and technology backing from First Round Capital, PayPal, Venrock and angel investors.

Contact: Wes Robinson
Phone: 213-438-8722
Email: [email protected]

SOURCE BillFloat, Inc.