PayNet, Inc. has hired Paul Tennola as Chief Financial Officer. Tennola oversees financial management, strategic planning, corporate finance, accounting, and investor relations.
 
He joins PayNet with over 28 years of financial leadership positions specializing in corporate strategy, finance, operations and M&A/corporate development. He has successfully led the closing of 50+ transactions in the financial services, tax/accounting, consumer/finance and data/analytic sectors.  
 
“Paul’s skills in finance, corporate development and management provide diverse capabilities for our Company,” said William Phelan, president of PayNet. “These capabilities will enable us to even better serve customers to lower the cost of credit administration, acquire more commercial and industrial assets and mitigate credit risks; in addition to help us manage and position ourselves with our continued growth.”
 
Prior to joining PayNet, Tennola served as Global Head of M&A for TransUnion during their IPO process. He served as Executive Vice President, Corporate Development, Tax & Accounting Division of Wolters Kluwer, leading and managing their first acquisition in Brazil. He became Group Vice President of Business Development for SunGard Data Systems, Inc. from the divestiture of DerivaTech Risk Solutions, Inc. He also held financial management positions with Incent, GE Financial, Deloitte & Touche and Merrill Lynch.
 
Tennola graduated from Indiana University with a bachelor’s degree in finance. He completed the Chicago Management Institute’s Executive Program from The University of Chicago, Booth School of Business, and the Six Sigma Master Black Belt program at GE. He is an active member on the Advisory Board for the Global Higher Education Organization.