Tim Schar Joins Board of Advisors For Rising FinTech Company With Patent-Pending SKUx Smart Incentive™
ST. PETERSBURG, FL., September 3, 2020 – Tim Schar, Tampa Bay Market President for Truist Bank, now the 6th largest U.S. bank, has joined the SKUx Board of Advisors alongside other esteemed industry leaders and former executives from Walmart, Procter & Gamble, and JPMorgan.
“I am excited to join a stellar advisory board group and a company that has been successfully achieving adoption of its solution and is now pushing new boundaries of possibility in this evolving, digital retail landscape,” Schar said. “Over the course of my career I’ve been very fortunate to witness firsthand what can happen when disruptive technology, sound business models, and the right leadership intersects and finds that special combination – and SKUx is on the verge of massive success. This is big for Tampa.”
SKUx is a global fintech company utilizing smart, secure, one-time-use digital incentives to drive incremental revenue for retailers, brands and marketing agencies – known as the Smart Incentive™. Utilizing the company’s Platform as a Service (PaaS), customers can engage any audience form of their choosing with a seamless, frictionless, intuitive consumer experience. Incentives are trackable in real-time, prove ROI eliminating fraud, and are soon to be available for redemption at virtually any retail location in the U.S. – giving SKUx the nation’s largest and proprietary promotional incentive network.
Since its formal launch in October of 2018, the company has experienced explosive growth, securing agreements with multibillion-dollar companies and quickly developing a completely new standard of incentive with its technology. The company’s co-founder and CEO, James Sampey, added, “We are honored to be welcoming a proven leader like Tim Schar to our company Advisory Board, especially at such a pivotal and exciting time of growth for the company. Tim’s diverse technology expertise and knowledge of the global financial markets will be extremely valuable as SKUx continues to scale its solution set and establish its position as a market dominant platform.”
Tim Schar Background
Schar has over two decades of leadership and investment banking experience with Bear Stearns, Credit Suisse, Wachovia, Wells Fargo and now Truist. He held various leadership positions, including Head of Convertibles and Equity Derivatives Group at Wachovia, Managing Director of West Coast Global Market Solutions at Credit Suisse and Head of Tech, Media Telecom Equity Capital Markets at Wells Fargo. In these roles, he built and managed high-performing teams and focused on originating and executing complex capital markets transactions, including IPOs, private placements, equity derivatives and convertible securities.
He also served as VP of finance and interim-CFO at ServiceSource International, prior to its IPO in 2011, and CFO of ApplePie Capital. Schar has advised public and private companies on financing and strategic transactions across multiple industries and geographies, with significant expertise in software, semiconductors, fintech, digital media, telecom, healthcare and industrial sectors.
Tim is active in the Tampa Bay community, fostering relationships with for profit, not for profit, government and education institutions. He also currently serves as Chairman of the Board for Synapse. He received a BA degree in Economics, with concentrations in Mathematics and Computer Science from Macalester College.
Schar and his wife are raising four daughters and live in Tampa, FL. When he is not working or spending time with his family, he enjoys cycling, running, swimming and skiing.
A leading Fintech organization, SKUx utilizes smart, secure, one-time use digital incentives to eliminate fraud and drive incremental revenue for the world’s leading retailers, brands and marketing agencies. The company’s patent-pending Smart Incentive™ combines incentive details, serialization, funding and settlement to create a risk-free consumer incentive with 0% fraud rate and 100% redemption rate. The result – new incremental revenue, improved efficiency and laser sharp transparency for all industry stakeholders.