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eCheck
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Sponsored by |
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This track is composed of sessions
dealing with the issues, challenges,
experiences, opportunities, trends and
developments associated with check
electronification, encompassing both
conversion and truncation methodologies, as
well as convergence issues. Subject matter
includes the conversion of a paper check to
an ACH debit, the use of a check as a source
document for Internet and
telephone-initiated ACH debits, and the
truncation, imaging, and clearing of a check
via other payment networks. Application and
process integration across silos is examined
from the financial institution and customer
perspectives. |
Check/ACH Coalition Initiative
Check and ACH professionals are working
together as the Check/ACH Coalition to assess the feasibility of using the
ACH Network to collect checks not collectible through image exchange. Since
its debut at the PAYMENTS 2006 conference, the Coalition has expanded to
include participants from 65 banks, credit unions, associations, and
rule-making bodies. Check clearing through the ACH Network could prove an
effective alternative to address the volume that would otherwise remain as
physical and substitute checks. The envisioned process would continue to
lower costs, accelerate collections, and improve risk management for millions
of checks handled each day by financial institutions and their customers.
Come hear this enlightening presentation as participants discuss the current
status of this initiative.
Remote Deposit Capture: A Case Study for
Success
With almost every bank racing to develop a
Remote Deposit Capture (RDC) service, and almost every corporation demanding
the service, ensuring successful implementation, deployment, and ongoing
management is critical. While RDC is new to most of us, this panel has been
employing RDC for over 2 1/2 years. Panelists address the short, medium, and
longer-term impacts, legal and risk issues, agreements, and the hidden costs.
Gain an understanding of how to approach a business case for RDC, potential
ROI, lessons learned from the field, and what is coming next.
John Leekley
Founder & CEO, RemoteDepositCapture.com
Steve Buchburger
SVP, Solutions Management, Wausau Financial Systems, Inc.
Fred L. Butterfield AAP, CTP
Treasury Manager, Trust Company of America - Gemisys
Daniel McCarty
SVP, Treasury Management, Comerica Bank
Image Survivable Security Check Features
As check imaging continues to become
accepted and implemented, new opportunities for fraud will arise. As a
result, the need to adopt industry standards for image survivable security
check features has become a major opportunity. This session discusses
industry-proposed image survivable security check features, interoperability
between banks and their customers, the potential impact on check imaging
fraud, and the steps needed to make these fraud prevention features a
reality. Understand why image survivable security check features are needed
in a check imaging environment, what steps and programs have been completed
in the development of industry standards, and what still needs to be
accomplished. Learn how the adoption of industry standards will increase the
viability of image survivable security check features,
provide greater fraud protection, and why this quest is essential to popping
the fraud balloon.
Glen Sgambati
CTP
Chief Data, Risk & Security Officer, Early Warning Services, LLC
Cost-Effective eCheck
Processing for Today's Merchant
In order to offer consumers the choice and
convenience they demand, merchants must determine the most cost-effective and
secure method for accepting checks. With the substantial growth and consumer
acceptance of Point-of-Purchase (POP) transactions in 2006, Check 21, and the
anticipated introduction of Back Office Conversion (BOC) solutions,
electronic check processing is now a multifaceted option for merchants of all
sizes. What are the best options? Converted at the point-of-sale, creating
substitute checks, or converting checks in the back office? This session
provides an overview of the processing options, discusses the importance of
integrated front-end risk systems to electronic processing, and provides
insights on how to determine which one is the right solution for a given
merchant environment and quantify the ROI. In addition, the session examines
operational considerations, rules and regulations, and the overall impact
that check processing options may have on merchants. Attendees also hear
directly from a merchant who has implemented an electronic check solution and
the decision process it experienced.
Brian Mooney
President, TeleCheck, First Data Corporation
Fred Witt
Senior Manager, Credit Governance, Office Depot, Inc.
Optimizing the Payments Mix: A Recipe for
Success
With the variety of payment processing
options available, how can merchants, billers, and
government agencies determine the mix of solutions to offer that best serves
the organization and its customer? This panel discussion features seasoned
entities that have gone through that process for their consumer payment
needs. Speakers discuss and critique available options, share experiences
with evaluation, selection and implementation, and offer insights on customer
service, operations, and other support matters. Risk management, security,
and fraud issues are examined. Guidance is offered to get you through the
process, along with tips on managing your bank or service provider, and on
how to monitor performance and adjust the mix on an ongoing basis.
Mike Cook
VP & Assistant Treasurer, Wal-Mart Stores, Inc.
Remote Deposit Stage 2: From Adolescence
to Maturity
Remote Deposit Capture has been one of the
fastest growing cash management tools ever introduced to the payments
industry. Now successfully deployed in most large banks, an increasing number
of smaller financial institutions, a variety of third-party providers, and
among a growing number of businesses, corporate remote capture is still in
its adolescence. What is on the horizon for this technology as it reaches
toward maturity? This session examines the opportunities and challenges in
the areas of clearing optimization, least cost routing, and integration with
other financial institution remote channels, such as teller systems and ATMs,
automated data entry, image quality, data validation, exception handling, A/R
system integration, and imaging of non-financial transactions. Hear what is
in store for the next generation of RDC and what it means to the growth of
check electronification at the point of capture.
Tom Kettell CTP
Vice President, Marketing, RDM Corporation
Jamie Wells
VP, Senior Product Development Manager, U.S. Bank
BOC Case Study: The First 30 Days
By conference time Back Office Conversion
(BOC) will have been in place for just over 30 days. Come and see how a
retailer and their bank worked together to be ready for the new rule, and how
the retailer rolled out their BOC functionality on the day that the rule went
into effect. Also discussed are how the client developed their internal
business case for BOC, how they achieved senior management buy-in, and how
they sold the idea that they should be an early adopter of this new
application.
Bob Johnston
Senior Vice President, Bank of America
When ACH & Check Meet: Reconciling the
Differences
Businesses have well-established processes
for managing and reconciling check deposits and their associated returns and
adjustments. What happens when a "check deposit" becomes a
"check conversion" deposit or when a deposit rides two rails: ACH
for eligible items and Check 21 for ineligible? How are traditional processes
affected? What may get lost in translation? What should be considered when
implementing a check conversion program to keep established business
processes running smoothly? This session reviews key considerations and
impacts when your deposit "goes eCheck."
Kristine Oberg AAP, CTP
VP, Product Development Manager, U.S. Bank
BOC: Whose Back Office Is It Anyway?
On the surface, the new Back Office
Conversion (BOC) rule seems self-explanatory: companies that receive checks
in person scan them and convert them to ACH debits in their back offices.
That is the "do-it-yourself" version of BOC. When banks roll out
their BOC services in 2007, you will see everything from
"do-it-yourself" to "we'll-do-it-for-you" versions. Some
will offer check conversion as a stand-alone service; others will combine ACH
and Check 21 clearing for a 100% electronic solution. Coming on the heels of
the BOC implementation date, this timely session shows companies that accept
checks at the point-of-sale or staffed bill payment locations their options
and opportunities to benefit from the newest eCheck
application. BOC service offerings differ in their flexibility as well as
their technology, time, and labor requirements. Selecting the right service
for your organization largely will depend on where you want to make deposits,
whether the deposits are cash, and where the check scanning will be done.
Hear from a company that has studied the options and learn how it has decided
to implement BOC.
Michelle Young
Vice President, Wells Fargo
Back Office Conversion: A Real-World Case
Study
Back Office Conversion, which will be
implemented on March 16, 2007, enables retailers and billers
to convert payments received at the point-of-sale or manned bill payment
locations to ACH entries in a controlled, back-office environment. This
session focuses upon key components of the business case, validation of
assumptions, expected versus actual outcomes, implementation challenges,
customer impact, etc. Learn to articulate the value proposition of BOC, gain
an appreciation of the challenges faced during the roll-out process, and
acquire knowledge pertaining to consumer impact and methods of mitigation.
Samuel Robb AAP, CTP
VP & Payments Group Manager, Mellon Financial Corporation
Through the Looking Glass: A Discussion on
the Future of Image Exchange
Join executives from the country's leading
image-clearing organizations to discuss the future of image exchange. These
experts share information on current trends and statistics related to the
image adoption with predictions on the future check imaging landscape.
Attendees gain a greater understanding of the benefits and barriers to
adoption, the risks of delaying adoption, and how these benefits and risks
accelerate over time. Areas addressed include: - Current industry-wide
statistics on the use of image-based clearing - Imaging adoption trends and
predictions for the future of image exchange - Variations on the image
exchange model - Industry adoption hurdles and work underway to overcome them
- Benefits of image clearing and risks of waiting too long to adopt
Glenn Wheeler
President/CEO, National Clearing House Association
Fred Herr
SVP, Retail Payments Office, Federal Reserve Bank of Atlanta
Susan Long
Senior Vice President, SVPCO
Rich Walsh
Chief Operating Officer, Viewpointe
Implementing & Supporting ARC: A
Mid-Market Case Study
This session helps you understand best
practices in implementing and supporting ARC in the utility industry. Among
the topics addressed are contending with potential public utility commission
issues, handling administrative returns, opt-out procedures, and customer
service support. The speakers discuss rolling out the program and overall
customer satisfaction. Finally, they explore how ARC impacted other
electronic check and electronic lockbox programs.
Steven E. Bernstein
Vice President, JPMorgan Chase
Dennis Dallimore
Senior Staff Customer Service Specialist, Entergy Corporation
Rhonda Lapara
Manager, Payment Processing, Entergy Corporation
WEB & TEL at Home in the Payments
Business
Consumer payment needs and habits are
changing at the speed of light. WEB payments grew 35% and TEL payments grew
25% in 2006 (over 2005) as they have gained wide acceptance by consumers.
While card payments are still the most often used payment method by
consumers, offering WEB & TEL as payment options is an important component
in your total payments strategy. Learn how to build a comprehensive payments
strategy; determine what's important and why when implementing WEB & TEL,
who's available to help, and where to find resources. Hear first-hand from
originating companies how WEB & TEL are key to
your total payments strategy and your consumer's loyalty.
Laura Lee Orcutt
AAP
SVP, Technical Sales Consulting Mgr., Wells Fargo
Legal Implications of Check Electronification
Most payments professionals already know
that consumer check conversion transactions are governed by Regulation E and
the NACHA Operating Rules, while check truncation transactions are governed
by the Uniform Commercial Code, Regulation CC, and sometimes by Check 21 as
well....but what does this mean in practice? Should the governing law be part
of the decision criteria when considering the optimum clearing channel for a
particular item? As payment convergence intensifies, understanding the
similarities and differences between the key payments regulations is
essential to ensuring you understand the potential impacts electronification will have on your business model.
Howard Forman AAP
Senior Vice President, Wachovia Bank, N.A.
Karen Nash-Goetz
Vice President & Associate Legal Counsel, T. Rowe Price Associates,
Inc.
Bolstering Customer Care & Awareness
for BOC
Consumer education about Back Office
Conversion (BOC) has been identified as a key implementation issue by the
NACHA Board of Directors. Reducing impacts to financial institution customer
care staff and raising consumer awareness and acceptance of BOC are two
primary goals of the BOC Education Task Force. Learn about all the
communications, resources, and tools that were developed for organizations
serving as consumer "touch points" -- financial institutions,
retailers, and processors. Deliverables from this effort include customer
service training, best practice tips, and consumer-focused take-aways. Understand the importance of delivering consistent
and accurate information and how to access and utilize these valuable
resources in your organization.
Peter Hohenstein
SVP, GTS Industry Development, Bank of America
Terri Pelle
Sands AAP
President, GACHA
Mark Tizzard
VP, Strategic Migration, Wachovia Bank, N.A.
Multiple eCheck
Options: How Much are Banks Willing to Invest?
The current check processing system is
efficient and profitable for banks. Yet the banking industry is beginning to
implement many new solutions for processing checks, from point-of-sale to
back office conversion to ARC and image exchange. With check volumes in
decline, how can banks cost justify multi-billion dollar investments in all
of these technologies? Assuming strong demand for some options, will banks be
able to quickly meet demand with services that are cost effective and secure,
with good customer service? In this session, participants are asked to look
past the early activity and hype surrounding individual eCheck
solutions and examine check processing from an overall, strategic position.
Margaret Bost
Director, Financial Industry Marketing, Diebold,
Inc.
Leon Majors
President, Phoenix ESP Payments Research Group
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