As the financial world bids farewell to Neil Randel, the CEO of First American by Deluxe, it's time to celebrate a career that has left an indelible mark on the payments industry. In a recent interview, Neil shared insights into his journey and his vision for the industry's future.
A Journey of Innovation and Progress
Neil's career in the payments industry is a story of vision, dedication, and the relentless pursuit of excellence. It began with the formation of FirstNet Corp., a company he co-founded in Dallas, Texas. In 1993, Neil's entrepreneurial spirit led him to invest in and join First American by Deluxe as a co-founder. Under his leadership, the company thrived, relocating from California to Texas in 1994. The company's early years were marked by many strategic acquisitions, including iATS Payments, a leader in nonprofit payments, in 2010, further expanding its reach and influence.
Strategic Growth That Defines a Chapter
During his tenure as CEO, Neil led First American as it evolved into a diverse and innovative player in the payments space. Strategic acquisitions paved the way for expansion into the government sector, and investment in a vision to service the banking industry established robust and successful growth payment channels.
Deluxe's acquisition of First American in 2021 was a significant milestone, enhancing the company's reputation and stability in the industry. Neil credited the team's hard work and dedication for these achievements, emphasizing the importance of understanding the evolving payments landscape and staying innovative to their success.
Challenges and Opportunities
Reflecting on his tenure, Neil highlighted the challenges and opportunities in the payments industry. “Technology has been a significant challenge in recent years, with the rapid pace of innovation demanding adaptability and forward-thinking solutions,” says Neil. Finding and retaining talent in a competitive field has also been challenging, but Neil commended his team for their dedication and expertise.
"We have so many talented people that understand the payments industry as it is today, which is a far cry from the payments industry that I started in 30 years ago," explains Neil.
Looking Ahead
As Neil Randel embarks on his retirement journey, he leaves an enduring impact on the payments industry. He plans to remain active by getting involved in public and private boards, leveraging his vast experience and insights. Neil also intends to spend quality time with his family, especially his grandchildren, and explore new opportunities in his well-deserved retirement.
"I am confident that the future of First American and Deluxe is brighter than ever," says Neil. "Their unwavering commitment to innovation, integrity, and excellence will continue to propel our organizations to new heights in the payments industry."
Debra Bradford, President of Merchant Services, will continue in her leadership capacity at First American by Deluxe. “Neil and I have shared a profound journey in the payments industry, working closely together for many years. I am thrilled to continue leading First American into the future,” expressed Debra. “I know I speak on behalf of the entire organization when I say that Neil has not only been a trusted colleague and leader but a dear friend and a cherished part of our work family. His presence will be deeply missed as we forge ahead, inspired by his legacy and commitment."
“Neil is an icon in the payments industry,” added Barry McCarthy, President and CEO of Deluxe. “His leadership and presence was a major factor in our decision to acquire First American in 2021, and his counsel and insights have proved invaluable to the integration of that business into our larger portfolio. The natural synergies between our two organizations quickly drove results even better than our mutual high expectations. This is another testament to the strength of the company, team and legacy he built.”
The payments industry will undoubtedly miss Neil Randel's leadership, but his history of ingenuity will continue to inspire and shape the industry's future. His departure marks the end of an era at First American by Deluxe, but his impact will endure for years to come.
