December 17, 2018

Payrailz Promotes Horng Tern to CTO, Paul Franko Moves to COO Role

— Investing in people key to managing strategic growth and innovation —

Glastonbury, Conn., Dec. 17, 2019 – Payrailz, a digital payments company offering smarter, more engaging and secure payment experiences to banks and credit unions, announced the promotion of Horng Tern to chief technology officer and Paul Franko’s move to chief operating officer.

As Payrailz manages for the company’s growth, co-founder and former Payrailz chief technology officer, Paul Franko, will be taking on more responsibilities as he steps into the new role of COO. Tern will report to Franko and the two will work closely together to execute Payrailz’s vision of a smarter payments experience.

In his role as CTO, Tern will oversee all technology related to software development, IT management and product development. Previously serving as senior architect at Payrailz, Tern has extensive experience both inside and outside of the company. Before Payrailz, Tern was senior technical architect for Payveris, and held technical positions at CyberSheath Services International, DynAgility and Online Resources Corporation.

Tern brings more than 25 years of experience in IT management and software development to his role as Payrailz’s new CTO. His experience and expertise touch areas of enterprise architecture design, software development, platform consolidation, system integration, Agile Scrum methodology, data warehouse design, business intelligence reporting and technical project management.

“Payrailz has experienced tremendous momentum and industry acceptance since we announced our company in November of 2017.  As we proactively manage our growth, we are thrilled to see Horng Tern stepping into a more strategic role within our organization as he has been an integral member of the team ever since he joined,” said Fran Duggan, CEO of Payrailz. “His expertise in both leadership and technology is a powerful combination, and we look forward to seeing how Horng continues to help us deliver the best payments experience possible.  Additionally, as Paul moves into an expanded role, we look forward to his continued leadership and efforts in executing our vision.” ”

“I am honored to be able to expand my role at a company that values innovation as much as Payrailz does. Working closely with Paul, our development team has created something really special,” said Horng Tern, new CTO of Payrailz. “I look forward to delivering strategic guidance and leadership to help Payrailz further achieve its goal of creating smart and innovative technologies to transform the payments industry.”

Tern holds a bachelor’s degree in Computer Science from Indiana University of Pennsylvania, a master’s degree in Computer Science from George Mason University and an executive master’s degree of Business Administration from the University of Maryland.

About Payrailz

Payrailz is a digital payments company offering advanced payment services to banks and credit unions. In a society that increasingly has become focused on a “do it for me” culture, Payrailz’s smart technology makes the difference. Payrailz creates smarter payment experiences for the financial services industry that are predictive and more engaging than currently available alternatives. Financial institutions can confidently embrace Payrailz’s cloud-based technology engine, including AI, dynamic workflow, open data exchange, and a robust SDK to offer unique payment solutions to their customers. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit, follow them on Twitter @Payrailz, Facebook or LinkedIn, or contact Mickey Goldwasser at 860.430.9245.