FMS has a capacity of approximately 1,500 FTE at our existing contact centers, with 1,000+ FTE currently employed.  Each of our production units is dedicated to their particular client, agency, or school and operates from a fully-blended inbound/outbound calling environment.



Chief Executive Officer

Balaji “Raj” Rajan is CEO of Ceannate Corp, a firm focused on the students and institutions in the post-secondary education sector. 


Raj took over a two-person company called Financial Management Systems in 2003 and built Ceannate Corp, across four wholly-owned subsidiaries - Financial Management Systems, i3 Group, IonTuition, and META. Each company addresses student relationship. META is the first teletherapy app built specifically for colleges.


In 2011, Raj oversaw the conception, development, and implementation of IonTuition, the first web-based, user-friendly tool to help student loan borrowers manage and plan repayment of their student loans. 


Raj works closely to influence public policy relating to financial literacy, financial aid practices, and student loan management with policy-makers in Washington. 


Financial Management Systems is the nation’s most successful default portfolio manager for education related receivables.


In addition to serving as CEO, Raj sits on the Ceannate Corp Board of Directors and has been active in education finance policy and operations. He is a contributor for various OpEds on The Hill and Roll Call publications in Washington. He is a member of YPO Gold - Chicago Chapter.

President & Chief Operating Officer

Maureen Peterson, recognized as one of the Top 50 Most Influential Professionals in the sector, has managed ARM operations in increasingly senior positions for the last 25 years. She has contributed and operated in all facets of debt collection, loan servicing and default aversion. The asset classes include first-party, later stage, and purchased debt collections. She has managed operations domestically as well as near shore. Over the past ten years her area of operational management expertise has expanded into web-based tools and data focused solutions.


As President and Chief Operating Officer of Ceannate Corp, she is responsible for operations across all Company subsidiaries. Since joining Ceannate in 2008, she has led the Company through a period of unprecedented growth. The formation of i3 Group, followed shortly thereafter by the launch of IonTuition, effectively expanded the Company’s service offerings to higher education institutions with an emphasis on student-facing web services. Today, IonTuition also serves as a benefit offering for employers. Maureen is also a member of Ceannate’s Board of Directors. Prior to joining Ceannate, Maureen served as President of an Account Receivables company where she grew the organization to over 1,400 employees and top rankings across all competitive client contracts.

Senior Vice President

Brent Givens has over 25 years of experience in the student loan financial services industry. He has full responsibility for all operations and business development initiatives of i3 Group/IonTuition, subsidiaries of Ceannate Corp. Brent leverages his student loan program knowledge at the school, guarantor, and servicer level to enhance cohort management services, focusing on the Company’s data aggregation solutions and student outreach services. Today, Brent’s team is the best performing third party servicer in all competitive contracts, dealing with over 900 campus codes, and monitoring over 750,000 students. Brent also championed the development of PiE by IonTuition, the nation’s most complete Income Share Agreement servicing platform.


Prior to joining Ceannate, Brent most recently served as Corporate Director of Student Loan Management with Career Education Corporation (CEC), a leading collection of higher education institutions serving over 100,000 students across 90 campuses. Before CEC, Brent held a series of escalating management positions during his 16 years with Sallie Mae., including Director of Lender Due Diligence, where he led a team of over 200 employees and managed over 500,000 student accounts monthly. While at Sallie Mae, Brent was also responsible for business development and service for United Student Aid Funds (USAF) among other national accounts.