PayNet hired Paul Tennola as chief financial officer. He will oversee financial management, strategic planning, corporate finance, accounting and investor relations.

Tennola joins PayNet with over 28 years of financial leadership positions specializing in corporate strategy, finance, operations and M&A/corporate development. He has successfully led the closing of more than 50 transactions in the financial services, tax, accounting, consumer finance and data/analytic sectors.

“Paul’s skills in finance, corporate development and management provide diverse capabilities for our company,” said William Phelan, president of PayNet. “These capabilities will enable us to even better serve customers to lower the cost of credit administration, acquire more commercial and industrial assets and mitigate credit risks; in addition to help us manage and position ourselves with our continued growth.”

Prior to joining PayNet, Tennola served as global head of M&A for TransUnion during its IPO process. He served as executive vice president of corporate development for the tax and accounting division of Wolters Kluwer, leading and managing its first acquisition in Brazil. He became group vice president of business development for SunGard Data Systems, from the divestiture of DerivaTech Risk Solutions. He also held financial management positions with Incent, GE Financial, Deloitte & Touche and Merrill Lynch.