Digital Insight Corporation announced Wednesday that Kevin McDonnell has been named Chief Financial Officer. According to John Dorman, President and Chief Executive Officer of Digital Insight, Mr. McDonnell will be responsible for managing the company’s accounting, human resources and business development functions.
Digital Insight, among the world’s largest providers of real-time, Internet-based transaction services for financial institutions, is now serving more than 320,000 active home banking end-users – up from 91,000 in January 1998. “As we continue to execute successfully on our careful plans for sustained growth, Kevin will play a pivotal role,” said Dorman. “His expertise in managing high-growth companies and in leading companies through their initial public offering phase will be indispensable as we move forward.”
McDonnell has a broad range of experience with both private and public companies. Most recently, he was Executive Vice President and Chief Financial Officer for Rockford Industries, a publicly traded leasing company which was sold to American Express in February of this year.
Prior to joining Rockford Industries, McDonnell was the Chief Financial Officer for Printrak International, a publicly traded multinational computer company specializing in automated fingerprint identification. McDonnell was responsible for Printrak’s initial public offering in 1996 and completed several acquisitions during his tenure there.
Prior to this, McDonnell was the Chief Financial Officer for Mobile Technology, Inc. which was a nationwide medical services firm. At Mobile Technology, Inc., McDonnell was part of a turnaround team and was responsible for restructuring over $190 million in debt and streamlining operations to meet a changing business environment for mobile MRI services.
McDonnell also held several high level financial positions with Teradata Corporation from 1985 until 1992 when the company was sold to AT&T. Teradata was one of the leading providers of massively parallel data warehousing solutions to Fortune 500 companies and leading financial institutions. McDonnell was involved in Teradata’s initial public offering in 1987 as Assistant Treasurer and served as the company’s Corporate Controller from 1989 to 1992 where he was responsible for world-wide accounting, reporting, planning and financial systems.
“Digital Insight offers a seasoned and knowledgeable management team and tremendous prospects for continued triple-digit growth-all within the context of an exciting and important technology segment,” said McDonnell. “I sincerely look forward to applying my experience in managing high-growth companies here at Digital Insight.”
About Digital Insight
Founded in 1995, Digital Insight is among the world’s largest providers of real-time, Internet-based transaction services for financial institutions.
The company develops and hosts Internet applications for more than 260 live financial institutions in the United States, and currently serves more than 330,000 active home banking end-users. Digital Insight’s web-based services include AXIS(TM), a comprehensive home banking system with bill payment and target marketing options, and PRIZM(TM), a comprehensive cash management solution for businesses. [www.diginsite.com].