Borderless AI Appoints Former Visa and PayPal Executive Leonard Shen to Board of Advisors to Support Growth
Shen brings decades of experience in compliance and ethics to the company, strengthening its market position and enhancing company global compliance expertise in the Employer of Record space
TORONTO, April 11, 2024 /PRNewswire/ — Borderless AI, the AI-powered startup disrupting the Employer of Record (EOR) space, has appointed Leonard Shen to its Board of Advisors to double down on compliance, risk management, and cross-border money movement.
This appointment comes on the heels of the company’s $27 million seed funding to leverage the power of generative AI to automate and accelerate the processes of onboarding, managing, and paying international team members. The company’s novel AI agent, Alberni, can perform complex HR tasks such as automating the process of generating global employment agreements or on-boarding new employees — all within minutes by leveraging conversational AI.
“Strong compliance programs are table stakes in the payments space, which is why we are excited to add Leonard to our team,” said Willson Cross, co-founder and CEO of Borderless AI. “Leonard has led a distinguished career as a compliance executive with a proven track record of building and scaling compliance programs in the payments category. As more companies aim to grow and scale in markets around the world, Leonard will help us sustain our rapid trajectory in cross-border payments as we invest in additional anti-fraud and compliance measures.”
During his time as an executive at Visa, Shen led the global compliance team through a period of explosive growth, in addition to serving as a member of the Audit and Risk Committee of the Visa Board of Directors and Visa’s Global Operational Risk Subcommittee. In his role as Chief Compliance Officer at PayPal, Shen led the overhaul of the compliance program, building a network of more than 800 members as a cross-functional “first line of defense” compliance team.
“There is a critical demand for advanced technology that will propel the HR industry forward as innovation and AI disrupt various sectors,” said Shen, Board of Advisors, Borderless AI. “I am honored to join Borderless AI’s board and work alongside key innovators who are advancing the payments and HR functions and changing the way people and teams scale around the world.”
Shen joins Borderless AI with 40 years of legal and compliance experience. Upon graduation with honors from Harvard and Harvard Law School, Shen began his career as a trial attorney and criminal prosecutor in the U.S. Department of Justice, and he then served in private practice at the Washington, D.C. law firm Perkins Coie, in addition to his roles as Deputy Director of the U.S. Environmental Protection Agency’s Superfund Enforcement Division and Chief Counsel of the U.S. Senate Subcommittee on Hazardous and Solid Waste Remediation. Over the last two decades, he was the Global Chief Compliance and Ethics Officer for Visa, Inc., American Express, Paypal, and General Electric’s Commercial Finance business.
In addition to this role on Borderless AI’s Board of Advisors, Shen also serves as Chairman of the Board for US Forex and Canada Forex, leading international payments providers serving over one million customers globally with $100+ billion transfers in 55+ currencies.
For more information on Borderless AI, visit hireborderless.ai. You can also try out Alberni for free here.
About Borderless AI
Borderless AI is a global payroll solution that leverages the power of generative AI to automate and speed up the process of onboarding, managing, and paying international team members. With Borderless AI, businesses can compliantly hire and manage talent worldwide without establishing a foreign entity while alleviating the complexities and risks associated with hiring global employees. With a focus on innovation and customer service, Borderless AI developed Alberni, the world’s first AI agent for global HR. Alberni uses conversational AI to simplify global employment tasks from contract creation to expense management. The company is headquartered in Toronto, Canada, and has raised $27 million in seed funding to date, backed by Susquehanna and Aglaé Ventures.
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