OLB Group INC
The OLB Group is a FinTech company offering a suite of product solutions in the merchant services and payment facilitator verticals, including a cloud-based omni-channel commerce platform for SMBs, electronic payment processing, and crowd funding services for issuers and broker/dealers..
Status: ACTIVE | Industry: FIN TECH | Symbol: OLB
OLB Group INC (NASDAQ:OLB)
OLB Group INC
Overview
OLB Group is a commerce service provider that delivers fully outsourced private label shopping solutions to highly trafficked websites. We provide our clients with a seamless, end-to-end eCommerce solution including site creation, hosting, transaction processing, order fulfillment, customer service, sales reporting.
Our solution also includes a virtual inventory consisting of millions of name brand products from top-selling categories on the internet. Our private label shopping site is designed to maintain the unique look of feel of the Partner website, providing seamless eCommerce functionality that keeps users on the Partners shopping site at all times. Order fulfillment and customer service are also provided under the brand name of the Partner.
OLB remains invisible to the user at all times. Our eCommerce platform also enables Partners to create their own online marketing promotions and to customize product content to meet the needs of their online users.
OLB Group INC Highlights
- $960,000,000 2018 GROSS TRANSACTION
- 23,500,000 2018 TRANSACTION
- 8,500 MERCHANTS NATIONWIDE
- 2,000+ MERCHANTS ON SECUREPAY
- 130+ INDUSTRY TYPES
- 50 SELLING IN ALL STATES
History
OLB was incorporated in 1993, initially providing creative and marketing services, from concept to print, to Fortune 500 companies including AT&T, Lucent Technologies, Merrill Lynch, Lord Abbott, Rebock, and Scholastic.
The Company also developed and maintains a complex extranet/intranet infrastructure that allows Doremus, an Omnicom Communication subsidiary to provide its advertising services to 50 of the top financial institutions on a real-time basis.
In 1996, the Company began providing Internet and eCommerce services with the Playboy Enterprises Catalog Division, creating and hosting two eCommerce sites, Critics Choice Video and Collectors Choice Music. The Company has since developed a number of other branded eCommerce sites for partners selling a variety of products including sporting goods, chocolates, and cosmetics.
It has since partnered with these companies, providing ongoing hosting and maintenance of their sites. Having gained extensive eCommerce experience with these businesses, OLB developed a new and unique business model in 1999 by creating a database of millions of products that gives added value to Partners operating websites.
Why OLB Group?
Rich Product Experience Across the Channels Maintains Brand Consistency
With the help of the OLBG product inventory, you can create your online catalog of branded products with rich media, multiple images, detailed product information, and brochures. This online product catalog can then be syndicated uniformly to your own and other online stores to establish a consistent and rich product experience for your brand across all channels.
Sell on a Central Portal or Create Online Stores for each of your Dealers
With OLBG you can create a central online store across channels and create localized dealer stores to ensure that consumers are able to reach you and your products wherever they are looking. At the same time, you can drive a consistently rich brand experience by having a connected online dealer network.
Multichannel Retailing
OLBG is comprehensive a platform that allows you to set up multiple sales channels including online sales, corporate sales, B2B and B2C, in-store footfalls, mobiles and the internet, – all of this in a matter of weeks and not months.
OLBG enables your online store to be accessible over mobile phones & devices, so your customers can reach you anywhere & everywhere.
OLBG also allows you to effectively use social media to increase your consumer reach, build your brand, and increase your sales by engaging with consumers across social networks such as Facebook, Twitter.
A Complete System
OLBG is not just a technology platform, but rather a complete eco-system of solutions that work to meet your digital commerce requirements fully. It includes solutions to build your online stores like the ability to accept payments online, logistics, promotions, online advertising and customer acquisition. OLBG takes care of the complete lifecycle of your digital commerce channels.
Designed for Businesses, Not IT Teams!
Application management and server maintenance are taken care of by OLBG. You and your retailers can use your internal resources to manage the channels – this is done without any advanced technical know-how utilizing a simple OLBG Control Panel. Your in-house team can update new products and promotions in real-time across all channels by themselves. This includes updating product features, detailed product images, changing the styles and colors on pages, dealer locators, promotional content, running actual promotional campaigns, or changing the look and feel of pages using a simple drag-and-drop interface.
Promotion and Loyalty Management
You can pull together offers and deals for your b2b, b2c, online, and dealer channels using the detailed promotional tools in OLBG. You can develop, market, launch, and manage highly personalized and pre-scheduled promotions. Additionally, you can reward your customers for their loyalty with the in-built loyalty management features.
Proven Technology – Used by Industry Leaders
OLBG is used by multiple verticals including apparel, consumer electronics, mobile phones, jewelry, fashion & accessories, computers, shoes, books, arts & entertainment, education — this includes some of the best-known brands in America.
Completely Scalable Cloud-Hosted On-Demand Solution
OLBG is a completely cloud-hosted solution and leverages the Amazon Web Services infrastructure. That means your online store is highly available, reliable, and secure. Being a cloud-hosted solution also means that your online platform can scale as your business grows. You can use the version of the solution that makes the most sense for your business today and upgrade seamlessly as your requirements grow and change. Similarly, when your server or hosting business grows, OLBG can scale up seamlessly to meet those requirements.
Predictable Monthly Cost
Since OLBG is offered on a SaaS platform model, you pay a monthly subscription fee to use the platform and can choose to scale up as you require. This keeps your monthly cost fixed and predictable allowing you to grow your business effectively.
Easy Integration with Your Existing Systems
OLBG is designed on a modular model which means that OLBG can be plugged in with different systems to provide an integrated solution for your business. OLBG can be easily integrated with ERP, POS, order management, inventory, payment, promotional, and logistics systems.
OLBG Helps to get Customers for your Business
OLBG does not stop at providing the solution to get your business online. OLBG also enables you to get customers using its promotional tools as well as its Marketplaces solution. Marketplaces are high consumer-based online portals powered by OLBG that let you reach consumers effectively.
Banks, media companies or other such businesses with large consumer reach build their own online marketplaces using the OLBG Xchange solution. Businesses using OLBG can list their products on these marketplaces.
Start Fast and Manage Effectively
Don’t expect to take a ton of time to go live with OLBG ’s multi-channel retailing solution. It is quite simple to implement and manage the best solution for you!
All-In-One E-Commerce Solutions
ZERO CAPITAL INVESTMENT
Why buy eCommerce software, when you can pay as you go? OLB is a leading platform delivered on the SaaS model.
NO TECHNOLOGY FUSS
You don’t need to be a technology pro to run an online store. It’s as simple as running your regular retailing business and lets you maintain complete control.
WORK WITH EXPERTS
OLB Group, with 15 years of experience in retail and detail, is suitable for every category of value retailing powered by our platform.
THE COMPLETE SOLUTION
OLB Group is a complete OMNI solution to build & manage your online store. It’s a proven technology platform with integrated payment, logistics, & customer acquisition solutions.
OMNI CHANNEL
We are an OMNI application on iPad, mobile, and web that lets you sell store’s products in a physical, retail setting. It’s quick and easy — browse your store’s catalog, pick a customer’s products, swipe their credit card, and print their receipt or send it through email.
CUSTOM APPS
A store owner can create a customized website, pursuant to any specifications, for the sale of products from our database. The store owner can customize his site to include his logos, design layout, and any other special features.
CORE BUSINESS
Integrated Products & Services
PLATFORM
Cloud-based business management platform that provides Omni Commerce Solutions.
PAYMENT GATEWAY
Payment gateway and virtual terminal with proprietary business management tools.
PLATFORM
Platform to raise capital for Issuers and broker dealers
- UNDERWRITING
- RISK MONITORING
- CUSTOMER SUPPORT
- SALES FORCE
- MERCHANT BOARDING
Management
Mr. Ronny Yakov
Chief Executive Officer
As Chairman and CEO, Mr. Yakov has more than 25 years of experience in concept-to-print, software and eCommerce marketing experience to Fortune 500 and 1,000 companies, with a proven background of helping clients adapt their businesses in the new technology age. In 1996, he entered into the electronic mail-order catalog business with Playboy Enterprises, creating and hosting two eCommerce sites: Critics’ Choice Video and Collectors’ Choice Music. The company has since developed a number of other branded eCommerce sites for clients, selling a variety of products including sporting goods, chocolates, and cosmetics, and has now partnered with these sites, providing ongoing hosting and maintenance of these sites. Other significant accomplishments have included establishing an AT&T eCommerce platform for 180,000 employees’ wholesale shopping and working with high-profile clients. Such as Jack Henry and Associates creating 2,700 eCommerce sites for small community banks, Mr. Yakov also developed and maintains a complex extranet/intranet infrastructure that allows Doremus, an Omnicom Communication subsidiary, to provide its advertising services to 50 of the top financial institutions on a real-time basis.
Rachel Boulds
Chief Financial Officer
Ms. Boulds prepares and files the Company’s financial statements to comply with GAAP and the SEC required of all public companies. Ms. Boulds was an ABAS associate for PriceWaterhouseCoopers and is experienced in the e-commerce space working as an e-commerce Accountant for the Walt Disney Group’s GO.com. Ms. Boulds earned a B.S. in Accounting from San Jose University in 2001 and is licensed as a CPA in the state of Utah
Patrick Smith
VP Corporate Finance
Patrick Smith has more than 17 years of finance and accounting experience in the electronic payments and financial services industry. During this time, Patrick has held positions including internal auditor, senior analyst, division controller and Vice President of business development. He built and managed financial staff, worked to raise capital, and managed due diligence processes for different mergers and acquisitions. His career began in 1997 as an internal auditor with Concord EFS, an electronic payments processor. During his 8 years with Concord, Patrick progressed to Vice President-Controller of EFS Federal Savings Bank, a subsidiary of Concord EFS. As Vice President, he led the growth from $25 million in assets to over $400 million. This subsidiary was also responsible for managing over 1500 nationwide ATMs owned and operated by Concord EFS. After the acquisition of Concord EFS by First Data, Patrick worked with Pay By Touch, Inc. a biometric payments startup based in San Francisco, CA. As Director of Finance, Patrick worked with the CFO and other members of the finance team to prepare financial plans and models to present to investors while raising capital for growth. He was also responsible for due diligence and integration of acquisitions for the company. After Pay by Touch liquidated, Patrick was hired as Corporate Controller by National Bankers Trust, a transportation factoring company. After 3 years as Controller, he transitioned back to the payments industry with an opportunity to conduct financial planning and analysis with several large ISOs. Patrick holds a Bachelors of Business Administration with a concentration in accounting from the University of Memphis.
Board of Directors
George Kastisiaunis
Mr. Kastisiaunis currently serves as a self-employed consultant. Mr. Kastisiaunis has over 25 years of experience in the banking industry. From 2017 to 2018, Mr. Kastisiaunis served as a director of Mariner Bank where he served on the Audit, Governance and Nominating Committees. Previously, Mr. Kastisiaunis was president and chief executive officer of Alma Bank where he served from 2011 to 2017. From 2004 to 2011, Mr. Kastisiaunis served in several roles at Marathon National Bank, including executive vice president and chief banking officer. Mr. Kastisiaunis earned a BA in Computer Science and MA in Management from the City University of New York. Mr. Kastisiaunis is also a member of the New York Bankers Association, Hellenic Bankers Association, and The 200 CLUB of Bergen County.
Ehud Ernst
Since 2015, Mr. Ernst has been the chief executive officer of HyperTail.es. From 2007 to 2017, Mr. Ernst founded and was the chief executive officer of Feelternet, a creative digital agency, which served some of the largest brands in the Israeli market. From 2004 to 2007, Mr. Ernst served as division manager at Data-Pro Proximity/BBDO, a large direct marketing, and analytics agency in Israel. From 1985 to 1999, Mr. Ernst founded and was the chief executive officer of Ernst Meron studios, one of the largest commercial photography production studio in Israel. Mr. Ernst also co-founded Impressia.com, a marketing technology start-up venture enabling product displays at e-commerce stores. Mr. Ernst graduated from ICP New York with a degree in Photography and Art.
Amir Sternhell
Since 2016, Mr. Sternhell has served as chief strategy officer of Sertainty, a data optimization company. Mr. Sternhell has 24 years of experience in the IT and Corporate Learning industries, including two-decades at .2013, where he was head of a business intelligence unit representing Microstrategy, and, chief learning officer, representing Harvard Business Publishing. Mr. Sternhell was the founder of the first Non-Profit Organization that assisted Israel’s Incubator System, in which he hand-held over 100 high-tech companies. Mr. Sternhell was the vice-chairman of the American-Israel Chamber of Commerce and Industry, overseeing its initiatives, and a recipient of its Business Leadership Award. Mr. Sternhell served in the Directorate of Military Intelligence for the Israel Defense Forces and was awarded the Most Outstanding Soldier of the Corp. in 1981. Mr. Sternhell holds an AB in Political Science and Psychology from Tel Aviv University, an MIA in International Economics from Columbia University, and an MBA from the ‘Grand Ecole’ EDHEC ‘92 specializing in IT and Management where he graduated first in his class.
Advisory Board
John E. Herzog
John Herzog is the founder and Chairman Emeritus of the Museum of American Finance. He has collected financial memorabilia for more than 50 years, with a particular interest in American Revolutionary bonds and other 18th century documents, and donated much of his personal collection to the Museum. Mr. Herzog was chairman of R.M. Smythe & Co., one of the nation’s leading numismatic auction firms specializing in coins, paper money, antique stocks and bonds, and autographs. He is also retired Chairman Emeritus of Herzog Heine Geduld, Inc., a leading Nasdaq market maker that was acquired by Merrill Lynch & Co. in July 2000.
Mr. Herzog is a member of the American Antiquarian Society, the Down Town Association, the Union League Club, and the Fairfield Hunt Club. He is also a member of the Smithsonian National Associate Board, Emeritus Trustee of Randolph-Macon Woman’s College, a member of the NYU Stern School Board of Overseers, and a recipient of the Ellis Island Medal. Mr. Herzog received a B.A. from Cornell University and an MBA from New York University’s Stern School of Business.
Dr. Yelena Yesha
Yelena Yesha is a tenured Professor at the Department of Computer Science and Electrical Engineering, the University of Maryland, Baltimore County. She received her B.Sc. degrees in Computer Science and in Applied Mathematics from York University, Toronto, Canada, in 1984, and her M.Sc. degree and Ph.D. degrees from The Ohio State University in 1986 and 1989, respectively. She joined the Department of Computer Science at the University of Maryland, Baltimore County as an Assistant Professor in 1989. In 1994 she was promoted to the rank of tenured Associate Professor, and in 1995 she was promoted to the rank of tenured Professor. In 1994-1995, while on leave from the University of Maryland, Baltimore County, she was the Director of the Center for Applied Information Technology (CAIT) at the National Institute of Standards and Technology, as a United States federal government employee (civil servant). In 1995 she became the Director of the Center of Excellence in Space Data and Information Sciences (CESDIS) at the NASA Goddard Space Flight Center. From 2009 through the present she has served as the Director of the National Science Foundation Industry-University Collaborative Research Center for Hybrid Multicore Productivity Research. She has published 12 books as author or editor, and more than 140 papers in prestigious refereed journals and refereed conference proceedings, and has been awarded external funding in a total amount exceeding 23 million dollars.
