NewtekOne, Inc. (NASDAQ: NEWT) announced that its subsidiary Newtek Bank, N.A. has hired Fuad Capric as Chief Real-Time Payments Officer. Capric will focus on integrating the bank's real-time payments functionality for commercial clients and will report to CEO Barry Sloane and Chief Risk Officer Taylor Quinn.

Capric brings over 20 years of experience in enterprise payment strategy and operations across ACH, wire, card, and digital payment channels. At Flagstar Bank N.A., he led a team of more than 80 professionals and oversaw payment ecosystems processing over $275 billion in annual volume, including $250 billion in wire transfers, $20 billion in ACH transactions, and $5 billion in credit card volume.

The company has rebranded its electronic payment processing subsidiary Newtek Merchant Solutions, LLC as "Newtek Real-Time Payment Solutions" to reflect its focus on instant payment functionality. The new business model aims to provide clients with payment processing capabilities across credit card, debit card, ACH, and Fed wire systems.

NewtekOne positions itself as offering treasury management solutions typically reserved for larger corporate clients to small and medium-sized businesses. The company's Newtek Advantage platform integrates payment processing with business analytics and connects to its Zero-Fee Business Banking accounts.

The hiring reflects NewtekOne's strategy to expand its real-time payment capabilities as businesses increasingly demand instant payment functionality for sending and receiving money, according to statements made in the company's press release.