- Digital banking veteran set to lead the research for development CUSO -
Madison, WI., December 11, 2024—Members Development Company (MDC), a future-focused network accelerating credit union success, has announced that its next CEO will be Ned Tobey, former Chief Product Officer of Digital Banking at NCR. In his new role, Tobey will oversee all research and development operations and strategic decision-making for MDC. He will succeed Jeff Kline, MDC’s CEO since 2007, in January 2025.
Throughout his nearly two-decade-long career in fintech, Tobey has won multiple industry awards and pioneered new solutions in online banking. Tobey developed the first SEC-certified online platform in SimpliFi, which was named the Finovate Best-in-Show Winner in 2009 and Fast Company Most Innovative Financial Company in the World in 2010. Tobey sold SimpliFi to Q2 Digital Banking Solutions in 2012, where he led the retail, payments and platform product teams through the initial public offering in 2014. He created 35% year-over-year growth during his tenure.
Most recently, Tobey completed his second stint at NCR and continued to develop cutting-edge digital banking technology. As the CEO of MDC, Tobey will bring his extensive experience as a leader in digital banking to the credit union industry.
“I’m honored to have the confidence of the Board of Directors at MDC,” said Tobey, “and I am excited to bring my talents to the credit union space. I see a lot of opportunities for credit unions to grow their business using the right tools. I’m looking forward to working closely with our credit union owners to help them discover the tools, strategies and processes that will set them up for success.”
The selection of Tobey caps a search process that followed Kline’s retirement announcement earlier this year. MDC partnered with Modern Executive Solutions, an executive search firm that provides customized and intelligent solutions for diverse leadership teams, to cast a nationwide net for the best candidates.
“After looking at his esteemed career and leadership style, we are sure that Ned is the perfect person to lead this organization,” said Kevin Johnson, MDC Board Chairman and Suncoast Credit Union CEO. “His understanding of modern digital banking is second to none, which we believe will be key to the continued flourishing of MDC and our owners.”
About Members Development Company
MDC is the credit union network’s multi-million-dollar research for development department. We scan the horizon, research current and forecast future issues, and create actionable solutions to solve problems for today – and tomorrow. By pooling the resources of 80+ credit union and CUSO owners, MDC delivers meaningful solutions efficiently and affordably. We learn the lessons of what does and doesn’t work — without exhausting our owners’ budgets and resources for exploration and development. We also believe that our research must be driven by our owners, for our owners. While we do the heavy lifting, our credit union and CUSO owners both advise and participate in our innovative work not just investors, but as trusted partners.