About Verient


Verient provides cloud-based, Software-as-a-Service (SaaS) commercial payment products. Verient's e-PayableTM and SpendControlTM products are offered by banks to their treasury and commercial card customers across large, mid-size and small businesses. Verient’s offerings convert non-revenue producing payments into revenue-rich credit card transactions, while at the same time reducing fraud losses.

The Verient InfiniPAYTM platform is fully integrated with TSYS -TS1 and TS2 commercial platforms and resides directly in the electronic payment transaction flow, thereby being able to conditionally test and/or modify any data sent during the authorization process.

The platform is PCI-certified and meets stringent regulatory requirements for the banking industry. New Payers can be boarded instantly. Verient has twenty-four issued and pending patents on its unique architecture.

Verient is located in the heart of Silicon Valley

Products



AP Automation: e-PayableTM

Replace paper checks with single-use, Virtual Credit Cards and send them through e-mail instead of snail-mail. The e-PayableTM solution seamlessly integrates with every ERP system for payment instructions and automatic reconciliation.

e-PayableTM is fully integrated with TSYS -TS1 and TS2 commercial platforms.

Tens of thousands of businesses use e-PayableTM to automate their Accounts Payable and Accounts Receivable needs.
AP Automation

Spend Control

Solve audit, compliance and fraud problems for corporate Purchasing cards and T&E cards through granular controls on individual transactions.

Generate on-demand, single-use virtual cards for purchases without exposing the original credit card numbers.

Spend ControlTM is fully integrated with TSYS -TS1 and TS2 commercial platforms.
Spend Control

Advanced Reporting

Generate custom reports on demand as well as schedule them for delivery by e-mail.
Advanced Reporting

The Compelling Set Of Features



SaaS, Software as a Service Solution


SaaS Solution



Fully Integrated with TSYS


Fully Integrated with TSYS





Visa and Mastercard Support



99.999% Uptime


99.999% Uptime



Advanced Fund Options

Credit & AdvancedFunds Options



Instant Client-Boarding


Instant Client-Boarding



Seamlessly Works with any ERP System

Seamlessly Works with any ERP System



Exact Pay


Exact Pay






Integrated Payables: Single File for all Payment types






Pay Vendor by Virtual Credit Card






Pay Vendor by ACH/Check/Wire






Pay On-demand for Integrated Payables



Auto-Reconciliation


Auto-Reconciliation



Supplier Initiated Payments

Supplier Initiated Payments



Buyer Initiated Payments


Buyer Initiated Payments



Web-Service API support

Extensive Web-Service API support



On-Demand Virtual Card Generation

Instant On-Demand Virtual Card Generation



Static/Vendor Cards


Static/Vendor Cards



Bundled/Un-bundled Payments

Bundled/Un-bundled Payments



Declining Balance Cards


Declining Balance Cards



PCI Certified


PCI Certified



FFIEC Compliant


FFIEC Compliant



Ultimate Fraud Protection


Ultimate Fraud Protection



One-time use Virtual Card


One-time use Virtual Card



Out Of Band Authentication

Out Of Band Authentication



Granular Authorization Controls

Granular Authorization Controls



Approvals Workflow


Approval Workflow



Segregation of Duties


Segregation of Duties



Advanced Reporting

Ad-hoc and Scheduled Reports



Export Data in Multiple Formats

Export Data in Multiple Formats



Issuer Specific Customization

Issuer Specific Customization



Submit Payments through Multiple Channels

Submit Payments through Multiple Channels



Electronic Remittance


Electronic Remittance



User Management


User Management



Client Management


Client Management



Vendor Management


Vendor Management



Flexible Delivery Options


SaaS out of the box solution No Integration/Coding Required.


Extensive Tokenization and Client Account Management
web service APIs for Seamless Integration


Virtual Cards Management Service

  • Generate Virtual Card
  • Get CVV2
  • Update Virtual Card Details
  • Inquire Virtual Card Details
  • Cancel Virtual Card

Transaction History Service

  • Get Authorization History
  • Get Settlement History

Client Account Management Service

  • Activate Client
  • Update Client Account Details
  • Update Client Status




Board of Directors



Rajesh Shakkarwar - Founder, President and CEO

Rajesh is a visionary with a distinguished track record. He holds thirty-three issued and pending patents for his tokenization, security, payments and computing inventions. Rajesh's 30 years of diverse experience includes executive positions at Sun Microsystems and ATI technologies as well as senior positions in marketing and engineering at Intel and Opti. During his tenure at ATI and Sun, Rajesh created start-up business units and grew them from conception to $300 million and $500 million in revenues respectively.

Rajesh is revolutionizing the world of payments by combining modern technologies – cloud, mobile and distributed computing - with the existing payment infrastructure. His innovations include:
  • Tokenization
  • Automated, efficient business to business payments
  • Control of payments in real-time, anytime, anywhere
  • Customer-driven fraud prevention framework

Through his strategic thinking and exceptional execution, Rajesh also transformed the worldwide landscape of computing, gaming and the video industries.
  • Rajesh invented and evangelized Unified Memory Architecture in the early nineties. Today it is the backbone of over 70% of all computers shipped worldwide, and it is credited for the broad adoption of consumer gaming.
  • Rajesh is widely credited for the paradigm shift in enterprise computing to the high performing 64-bit architecture through the Sun-AMD alliance he envisioned and executed in 2003.
  • Rajesh chaired several DVD standards committees and played a key role in DVD standardization as well as its broad deployment.

A powerful speaker, Rajesh has delivered keynote and expert speeches at more than 25 major US and international industry conferences and has eleven publications.
Rajesh Shakkarwar

Dr. Koji Osawa

Dr. Osawa has over twenty years of experience in investment and management of high-tech companies in Japan, the U.S. and Asia. He co-founded Global Catalyst Partners (GCP) in 1999 and Global Catalyst Partners Japan (GCP-J) in 2014.

Prior to GCP he was at Mitsubishi Corporation for 14 years, starting in 1985. Mitsubishi is the largest trading firm in the world with sales of over $100B.

Dr. Osawa was Division Manager of Mitsubishi International Corporation (Palo Alto Office) from 1993 through 1999. He was responsible for business development with high-tech companies in Silicon Valley in the areas of semiconductors, communications and software. During this period, he invested in several private companies and venture capital funds. He arranged a wide range of business agreements between these private companies and prominent Japanese and Asian companies, resulting in hundreds of millions of dollars of business.

Dr. Osawa is on the board of Verient and Fuller, and is the board observer for Advanced Micro-fabrication Equipment (AMEC). Koji also works closely with SoundHound.

Dr. Osawa also serves on the Board of Directors of several NPOs: Global Catalyst Foundation, Digital Divide Data, Keizai Silicon Valley.

Koji Osawa

Dan Eitingon

Dan has almost 40 years of financial and technology industry experience, serving most recently as interim Chief Information Officer of Visa International. In that position, he was responsible for the oversight of all processing activities in the company, as well as for the development of a large scale authorization system for the European Region. He became CIO after serving for several years as a consultant to the company.

Prior to the above activities, Dan served as President, global support services group of Visa International, reporting directly to the CEO, and was a member of Visa’s Management Executive Committee. In that capacity, Dan was principally responsible for corporate strategy, product development, systems development, computer operations, customer service and venture capital investing, in support of Visa’s activities worldwide. His team was specifically accountable for operating and strengthening Visa’s core products - such as credit, debit and VisaNet, as well as developing Visa’s future products – such as multi-application chip cards, electronic commerce payment systems and the next generation of internal systems architecture.

A veteran banker, Dan, 61, formerly was executive vice president and head of First Interstate Bank’s technology banking group, and a member of the bank’s executive operating committee. In that capacity, he directed corporate marketing, teleservicing and the information technology functions, including the adaptation of new technologies into bank products. Prior to that responsibility, he directed First Interstate’s 400-branch network throughout California, responsible for the bottom line performance of this flagship unit.

Dan began his career as a member of technical staff at Bell Telephone Laboratories in Illinois. He holds a BS in electrical engineering from Cornell University, an MSEE in computer sciences from the University of California at Berkeley, and an MBA from the University of Chicago.
Dan Eitingon

Vijay C. Parikh

Vijay C. Parikh has experience as both a successful start-up CEO and established company executive. He served as president and CEO of StratumOne Communications, founded in 1997, which Cisco Systems acquired in 1999 for $435 million, Cisco's most expensive acquisition to that date. StratumOne developed framers and layer 2/3 engines for 10G solutions in high-end routing/switching applications and was funded by Sequoia Capital, Brentwood Capital, Institutional Venture Partners, and Redwood Ventures. Following the acquisition, Mr. Parikh served as Cisco's Public Carrier IP Group vice-president and general manager. He was responsible for developing and introducing the 10G solution on the 12416 GSR platform, which drove sales from $400 million in FY 1998 to several billion dollars in FY 2001.

Prior to StratumOne, Mr. Parikh was VP/GM of Conexant's Wireless Communications Division, growing revenue from zero to $180 million in programs comprising all key wireless technologies (GSM, CDMA, TDMA, Spread Spectrum, PHS, DECT and PDC). He previously held several other VP/GM positions at Conexant, including the Personal Computing Division (programs in software modems, PC audio, and xDSL) and the Global Positioning System Division (multichannel GPS integration with wireless data systems, including those for ARDIS, CDPD and Mobitex). He also held several management positions at Conexant's Japanese Operations facility.

Other than Verient, Mr. Parikh serves on the boards of Newport Media, SliceX, Teranetics.

He received his BSEE from the Birla Institute of Technology and Sciences in India and MBA from the University of Michigan.

Vijay C. Parikh