Get Working Capital at Competitive Rates - Accounts Receivable Financing at The Receivables Exchange

Global Industry Veteran brings over 30 years of technology-driven cash management expertise to online accounts receivable marketplace

NEW ORLEANS, May 19, 2009 - The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, today announced that Lori Hricik, former CEO and Head of JPMorgan Treasury Services has joined the company’s Advisory Board. Hricik retired in early 2008, having become a globally recognized leader and industry expert in the areas of cash management, payments and trade finance.
 
“We are constantly seeking ways to further innovate the world of receivables finance to make it an easier and more mainstream working capital management tool for America’s small and mid-sized businesses to increase their liquidity,” said Justin Brownhill, co-founder and chief executive officer of The Receivables Exchange. “Lori brings a breadth of business acumen and market knowledge to her advisory role that will be invaluable in helping us to maximize our offering and its distribution to the millions of companies in search of working capital.”
 
Ms. Hricik spent more than three decades of her career at JPMorgan, where she held numerous executive positions in technology, operations, administration and finance. In the late 90s, she became CEO and Head of JPMorgan Chase Treasury Services, driving the success of one of the world’s largest cash management and payments businesses, with multi-billion dollars in revenue. Throughout her career, she earned numerous prestigious awards including Global Finance’s “2007 Best Internet Bank for Information Security Initiatives in North America” and twice being named by Treasury and Risk Management magazine as one of the “100 Most Influential People in Finance.” She is a globally recognized business leader, technology innovator and an active industry spokesperson.   She has been acknowledged by regulators and industry associations for her efforts to advance payments, cash management and trade finance in the areas of safety, soundness, efficiency and technological innovation.
 
Ms. Hricik received a Bachelor of Science degree in mathematics and computer science from Indiana University of Pennsylvania. She continued her education at Columbia University, earning an MBA from Columbia University where she was recognized with the Distinguished Service Award and was inducted into the Beta Gamma Sigma Business Honor Society.
 
“The Receivables Exchange is a new business model, innovating receivables finance by meeting the needs of both of its customers: Sellers seeking working capital and Buyers in search of a new investable asset class,” said Ms. Hricik. “They have successfully addressed the technology and operations challenges of a new online marketplace, from ease of use to rigorous risk management. Companies want a solution they can trust to achieve their working capital needs; The Receivables Exchange has created a solution that is game changing and unrivaled and that works for small and mid-sized businesses. I am thrilled to lend my years of expertise to this very talented team of professionals, so that they can continue to advance their efforts.”
 
For most companies, accounts receivable represent their greatest source of working capital, with more than 60% tied up in outstanding invoices. The Receivables Exchange connects Buyers and Sellers in a real-time auction marketplace to buy and sell receivables. By selling their receivables in an open and competitive marketplace, Sellers are able to reduce their cash conversion cycles, gain access to competitively priced capital and reinvest that cash into growing their business. Buyers gain access to a new investable asset class with attractive risk-adjusted returns and the opportunity to invest in the growth of the nation’s thriving small and mid-sized businesses. Learn more about how to improve cash flow and finance accounts receivables.
 
About The Receivables Exchange

The Receivables Exchange is the world’s first online marketplace for real-time trading of accounts receivable. The Receivables Exchange is changing the landscape of small business financing by providing a new dimension in working capital management. The Exchange connects a global network of accredited institutional investors (Buyers) to the nation’s millions of small and mid-sized businesses (Sellers) in search of capital to grow. Buyers get direct access to an $18 trillion new investable asset; Sellers gain access to a new competitive working capital management solution by having their receivables bid on in real-time by multiple Buyers.