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The Payments Biz |
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Sponsored by |
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This track focuses on the issues that matter
most for financial institutions and non-bank
providers that are in the business of
developing and offering payment solutions -
organizations that are competing for market
share, revenue, and positioning in the
payments field. Trends, observations,
opportunities, challenges, and strategies
are examined. |
Verification in the Payments Space
Verification is the process of confirming
the identity of a person and/or device at the other end of a channel. While
many financial service providers (FSPs) consider
authentication a reasonable means of validating a user, it does not establish
whether or not the user on the other end is who they claim to be. FSPs (banking, securities, brokerage, and insurance
industries) have traditionally relied on face-to-face communications. With
the advent of identity management, tokens, biometrics, and digital signature
technology, face-to-face communication as a manner of doing business will, in
the not too distant future, become the exception rather than the norm. The
obstacle of distance, as it relates to electronic interaction, will be
overcome, but only when a means to verify individuals and businesses is
established. Electronic commerce and technology are affecting all industries,
not just FSPs. However, FSPs
have become increasingly dependent on technology for their survival, thanks
to a variety of cost savings and new market opportunities. In order to fully
exploit these opportunities, FSPs need the ability
to verify the person and/or device at the other end to establish and retain
relationships, open new accounts and complete transactions. Presenters in
this session discuss verification, not authentication, in the POS, prepaid,
online account opening, mobile and contactless
payments, and employment check environments. Know Your Customer (KYC), the
underpinning of the payments industry, is explored. The future importance of
verification and how to apply it to today's security solutions, both physical
and virtual, are also discussed.
Chris Colson
Senior Director, Enterprise
Services, Equifax
Exploiting the New Economics of
Alternative Payments
The bank-controlled portion of the
payments business has been stuck in neutral for years; the biggest banks are
struggling to keep signature-based cards front-and-center as preferred
options for new markets and applications. But as we have seen with ACH, image
convergence, and the proliferation of known-account-based alternative payment
types, the ability to convert billions of new cash and paper check
transactions comes much more readily through innovative business models and
technologies. This session takes a comprehensive new forecasting model for
the migration to electronic payments and quantifies the enormous upside
business opportunity for all but perhaps the very largest financial
institutions. Obtain a complete overview of the retail payments business,
with forecasted market growth and product shifts; understand how the
structure of the payments industry currently inhibits provision of
alternative payments; examine the forces that are challenging these barriers,
beginning with profound changes in consumer behavior; and consider strategies
for how smaller financial institutions can foster this transition and take
advantage of the new economics of competing in this all-important sector.
Steve Mott
Principal, BetterBuyDesign
Cash Management: Ripe for Innovation &
Advancement
Financial institutions are being plagued
with a disturbing metric-waning cash management revenue growth. This poses a
risk to the bottom line and indicates that new and innovative cash management
features and functionalities are required to differentiate institutions and
provide new streams of revenue. This session provides an overview of the
latest cash management technology trends. The state of cash management
solutions are examined through a different lens, distinguishing core cash
management capabilities from complementary, innovative functionalities.
Speakers cover three distinct levels of advancement that financial
institutions are working toward: core cash management enhancements (e.g.,
advanced payments features, remote deposit capture), greater effectiveness
(e.g., administration functionalities, multi-channel alerts, security
capabilities), and enrichment of customer experience (e.g., customer
relationship strategy initiatives, interface customization). This case study
illustrates how a financial institution grew its cash management business
through the use of innovative advanced features and functionalities. A
solution overview, description of advanced functionalities, lessons learned,
and business benefits are highlighted.
Jacob Jegher
Senior Analyst, Celent, LLC
Milton Santiago
SVP, Electronic Banking Products, LaSalle Bank
Best Practice: Fraud Prevention Through
Collaboration
To effectively deter, detect, and limit
fraud losses it is essential that financial institutions collaborate, taking
a holistic approach to fraud prevention both enterprise-wide and as an
industry. By putting aside competitive differences and working together to
share information and best practices, we can achieve far greater reductions
in fraud than we could have ever imagined on our own. In this session,
speakers discuss case studies in which these practices have been employed and
share best practices and lessons learned.
Kent Ailes AAP,
CTP
AVP, Risk Management, Arizona
Federal Credit Union
Russ Chacon
SVP, Business Development, Early Warning Services, LLC
Shirley Inscoe
Payment Strategic Director, SVP, Wachovia Bank, N.A.
Integrating for Efficiency
Payment services are becoming more of a
commodity; the ability to enable value-added services while maintaining
efficient processing is more important than ever. Integrating back-office
systems to create a cohesive payments processing environment enables
cost-effective processing of a large volume of transactions, while allowing
the opportunity to deploy best practices and increase the value of services
offered to your clients. Learn how a financial institution integrated a
payments processing system within the back-office to create a seamless work
flow engine. Speakers explore how this integration enables the bank to
provide differentiated services to its customers including timely information
delivery and improved customer service, and describe how the bank increased
its efficiency and straight-through processing as a result of the
integration. Considerations for choosing and implementing best-of-breed point
solutions such as FX rate engines and compliance tools on an enterprise level
are covered, as well as evolving technology choices when considering
integration. Gain specific ideas for improved efficiency in your operations
and creative ideas for how to implement a flexible infrastructure that
supports the introduction of new products and services.
John A. Jaye
First Vice President, LaSalle Bank
John McCoy
Senior Product Manager, ACI Worldwide
Consumer Payments Trends: The Latest Facts
Based on the premier release of Javelin's
March 2007 annual household payments survey (now in its fifth year), this
session provides the latest update on trends such as: debit versus credit
card ownership; preferences and options for consolidated versus biller-direct payment and statement-viewing models;
changes in consumer consideration of convenience; security and financial
management that demand policy response by payments executives; and much more.
The speaker shows a five-year trend line for a wide variety of consumer
payments industry data with a focus on helping executives identify what they
might see in future years.
Bruce Cundiff
Senior Analyst, Javelin Strategy & Research
Dynamic Banking: A New Model for Achieving
Success
Maximizing products-per-customer is
largely considered the "holy grail" in banking; however, the
average bank achieves only 1.5 to 2 products per customer -- an inefficient,
untenable ratio for any institution seeking growth and greater
share-of-wallet with key customers. As banks struggle to achieve the promise
of consolidations and a new, retail-style business model, they must increase
their efficiency, improve time to market for new products and product
bundles, and deliver customer value. Like their nimbler, newer competitors
they must be able to understand customer requirements, package and price
bundled products competitively, and increase their "stickiness."
This session introduces and explores the implications of a "dynamic
banking" model which seeks to eradicate cumbersome functional silos,
improve efficiencies across people, processes and technologies, and increase
banks' share of customers.
Philip Faulkner
Director, Financial Services Products & Solutions, Amdocs
Service-Oriented Success in Payments:
Beyond Accuracy & Time
Great customer service is tantamount to the
success of any business. This could not be more accurate than in the business
of wholesale banking, especially as it relates to payment solutions. It has
become clear that payment services provided to corporate clients have become
highly commoditized. Therefore, it is vital that banks differentiate
themselves on the basis of service. This new service-oriented business model
is especially important as corporate clients grow more demanding in their
service expectations. The more forward-thinking financial institutions have
used score cards to measure and demonstrate service quality to their
corporate clients. However, the information provided in score cards is often
outdated because many banks still rely on manual processes to gather the
data. This session offers critical insights on what financial institutions
are doing to provide their corporate clients with a means for measuring the
level of service they receive and how to improve this. Discover how
incorporating more automation and real-time information into service
monitoring can significantly boost client satisfaction and retention.
Susan Feinberg AAP, CCM
Research Director, TowerGroup
David Wright
Director, Financial Services, WebMethods, Inc.
Consumer Adoption of New Payment
Technologies
This session presents the results of the
latest Financial Insights Consumer Payment Survey, providing a statistically
rigorous snapshot of consumer adoption of emerging payment technologies such
as contactless cards, online bill payment,
online-only payment services, mobile payments, online card holder
verification systems, eChecks, payroll cards, gift
cards, and more. The results of past surveys provide a historical context for
participants to judge whether these payment technologies are still in the
early stages, entering the mainstream, or fading away. Gain a fact-based
understanding of the state of consumer payments today, and what is motivating
consumers to adopt or avoid products that represent potential new revenue
opportunities or cost savings for banks. In addition, attendees receive a
summary of the survey results to use in their own presentations or business
cases.
Aaron McPherson
Research Director, Payments, Financial Insights, an IDC Company
The Masks of Electronic Fraud
Electronic fraud is increasingly the
favored means for criminals of all types -- from low-skilled individuals to
sophisticated criminal organizations -- to obtain access to bank and
financial accounts. This session, presented by a leading U.S. Department of
Justice expert on fraud and identity theft, describes and illustrates the
principal "masks" (i.e., methods and techniques) that criminals use
to commit electronic fraud, including identity theft, ATM fraud, counterfeit
checks, computer intrusion, malicious computer code, and insider compromise.
It also identifies some of the principal responses that law enforcement has
devised to combat electronic fraud, and suggest certain strategies that
financial institutions, corporations, and merchants may want to consider in
devising fraud prevention and detection measures. Attendees are able to
better recognize traditional and cutting-edge methods and techniques for
electronic fraud to appropriate anti-fraud practices and procedures to
counteract these methods and techniques, and to understand which law
enforcement agencies are likely to be of greatest assistance in investigating
electronic fraud.
Jonathan J. Rusch
Special Counsel for Fraud Prevention, Criminal Div, U.S.
Department of Justice
Universal Money Movement: Strengthening
the Financial Institution
As society becomes more reliant on the
convenient, fast, and secure execution of transactions, the demand to evolve
flexible money movement options also increases. Today's financial customers
require more flexible transaction services to better support their changing
lifestyle and banking needs. Whether it is transferring money to your child's
campus card at college, transferring money overseas, or simply moving money
from a savings account to a brokerage account, banking customers are
executing a growing number of money movement transactions for which the
funding financial institution currently has limited or no economic
opportunity. This session examines this growing market trend and what the
advantages are for today's financial services
organizations. Speakers provide an overview of what this flexible transactor strategy looks like, and how financial
institutions can start assessing the opportunity. Lastly, an open discussion
ensues on how the financial services industry can drive additional
advancement, as well as how the coexistence and cooperation of payment
networks (ATM, ACH, etc.) can improve the universal money movement
opportunity for financial institutions and complement each other to
ultimately drive choice for the consumer.
Steve A. Rathgaber
President & COO, NYCE Corporation, A Metavante
Company
Expedited Payments: A Growing Phenomenon
In the early days of electronic bill payment,
pioneer bill payment service providers were happy to mail checks or
check-and-lists to billers. In the 1990s, the
industry developed national networks to deliver bill payments electronically
to billers in just two days. The bill payment world
has continued to evolve with the introduction and sky-rocketing popularity of
expedited payments that take the form of next day payments, same day
payments, and most recently, real-time payments. This progress has not come
without cost. Each of these milestones has required that participants
re-engineer various components of their infrastructures in order to
facilitate moving the payments faster and faster. This session explores
infrastructure changes you must make in order to offer the various flavors of
expedited payments, the types of billers you must
interface with to ensure a successful expedited payment program, situations
that are non-events in consumers' minds, and how consumers have embraced
expedited payments, and what further growth is expected.
Stephen R. Hooper AAP, CTP
Chief Payments Officer, iPay Technologies, LLC
Mary L. Kelly
Product Leader, MasterCard International, Inc.
Sean H. Murray
Web Payments Strategy, JPMorgan Chase
Best Practices Planning & Implementing
Token Authentication
In a changing world of heightened
security, there is an ever-present need to protect financial institutions and
their corporate customers from security risk. Token-based multi-factor
authentication is widely accepted and regarded as a sound solution. However,
for those considering the use of tokens, there is a lot to consider before
the box of tokens arrives. This session provides experience from a bank and
their corporate customer about best practices for administering, distributing
and supporting tokens. Further, once the authentication solution is decided
upon, it is important to consider the underlying entitlements structure of
the Internet banking system. The institution must also take stock and review
how its customers are granted access to functionality within the application.
What level of granularity does the application provide? Does it control
access to accounts, does it provide dollar limit controls, what types of
workflow or dual-control features are available? Can the institution enforce
this through roles or product sets? This session provides a thorough
treatment of deploying token-based authentication and how to deal with user
entitlement in that environment.
Debbie Smart CTP
Product Development Manager, ACI Worldwide
Donna Howell CTP
Director of Cash Management, Old National Bank
Dave McManigal
CTP
Assistant Treasurer/Director of Treasury, American General Finance
Becky Sandgren
CTP
Senior Project Manager, Old National Bank
When Non-Banks Bank
There's an unmistakable trend in bank
competition, but is it ominous or innocuous? Banks are expanding their
business services at an unprecedented rate. New products, new technologies,
and new relationship models are proliferating but are they leaving big
openings for non-bank competitors? One after another, companies originally
founded for purposes not remotely banking-related are taking on more and more
bank-like activity. Rent-a-Center, Met-Life, Xoom,
Home Depot, Wal-Mart -- each has tapped into aspects
of banking that appear to complement their commercial interests, and has
chosen a bank-like niche that leverages their business model. Does this
reflect on banking's innovation? Is it just a
natural strategic move by companies that find themselves well-positioned --
maybe more so than banks -- to serve a financial need of their customers?
When they take a piece of the pie, does the bank share shrink, or does the
pie get bigger? What should banks know about these efforts? This panel
session begins with an overview of the subject, encompassing new entries,
regulatory status, bank competition, etc., then
panelists take on the critical issues and tough questions surrounding this
development.
Suzette Massie
President, Global Payments Consulting, Carreker
Corporation
The Big, Bad World of Online Payments
Service Providers
eCommerce continues to grow at double digits in the U.S. and
around the world, fueling demand for convenient, low-cost, and secure online
payment services. While traditional payments (credit and debit card
transactions) continue to represent the vast majority of online transaction
volumes, the number of online payments service providers (OPSPs)
is growing, along with their comparative volume of transactions. OPSPs enable online merchants to offer their customers
the option of paying for purchases (C2B) from their bank account or to pay on
credit and facilitate money transfers between individuals (P2P). This session
covers the OPSP landscape in the U.S. (and to a lesser extent
other countries), addressing questions of interest to financial institutions
who may be competing with these providers, and to companies who may be
considering use of their services. Issues tackled in this session include: -
Existing and emerging players in this space - Services provided by OPSPs and their comparative value propositions - Factors
differentiating successful providers from those that have failed - New
financial, operational, and data security risks, if any, that OPSPs bring to the payments system - Applicable laws,
regulations, and consumer protection provisions - Current and potential roles
of banks in this arena - The potential impact of NACHA's
Online Payments Pilot - Possible future developments for OPSPs,
their users, and their competitors
Claudia Swendseid
Senior Vice President, Federal Reserve Bank of Minneapolis
Enabling the Faster Receipt of Online Micropayments
Given the increase in online transactions
that merchants are witnessing, payment networks have developed systems to
enable merchants to collect micropayments from
millions of consumers, particularly payments of $25 and below. Using these
innovative services, content providers/merchants can now provide downloads of
digital content, and process the payment directly through the EFT network
eliminating the reliance on the wireless provider to collect payment, thus
cutting their collection time down to days rather than weeks or months.
Speakers in this session discuss the systems available to help merchants
collect timely payments for small-ticket purchases and share the benefits
experienced by operating under this new technology. Attendees glean details
on options, when it comes to accepting card payments for small-ticket
purchases, in addition to insight on the trends driving this new capability.
Nancy Loomis
Director, New Product Development, First Data Debit Services/STAR Network
Ashok Narasimhan
Chairman, Solana Corporation
Recent Developments in Electronic Payments
Law
Presenters in this session discuss legal
issues raised by current innovations in electronic payments law, including
recent amendments to the NACHA Operating Rules; prospects for a "New
Uniform Payments Code" law reform project; updates on state and Federal
regulations concerning Internet risks and authentication standards;
challenges to electronic payments from business method patent infringement
claims; and regulation of emerging technologies such as mobile or contactless payments.
Jane Larimer
General Counsel & SVP, ACH Network Services, NACHA - The Electronic
Payments Association
Jane K. Winn
Professor of Law, University of Washington
Success Drivers & Best Practices for
Online Retail Bill Payments
How do your customers perceive your
company's online financial services or payment site? Do customers say the
site feels secure and private? Is it easy or complicated to pay bills online?
Can customers efficiently find what they need and perform self-service tasks
online? Speakers in this session present the best practices for retail
financial and payment sites, based on new data collected from evaluation and
benchmarking studies. These studies evaluate the customer experience from a
usability perspective based on specific, real-world customer tasks, and
involve direct customer feedback and industry expert analysis. Usability best
practices for online financial services and biller
direct payments sites are presented as examples of how to improve the
customer experience. In addition, a banker presents a
"before-and-after" case study to highlight key customer experience
elements and results. Learn valuable information from customer experience
experts and national studies that will improve retail financial and payments
sites.
Susan Foulds
Senior Consultant, Keynote Systems, Inc.
Does Your Organization Have the Backbone
for ePayments?
To be a player in the emerging Check 21
and electronic payments environments, financial institutions and corporate billers will need to address four key infrastructure
issues -- image capture and data origination, networking and communications,
routing, and archival. While most organizations have gone all-out on the
first three items, just as many have overlooked the short- and long-term
image and data archival demands that new ePayment
initiatives will bring. Unlike the recent past, robust image and data
archival is hardly window dressing. It is the table stakes. The emerging
environment requires financial institutions and billers
alike to have an agile archive and delivery platform to serve as the backbone
for the virtual exchange of images and data between the point-of-capture
(whether it is a remote capture site, lockbox facility, ATM or the Internet)
and clearing. And the requirements for these archives, in terms of
reliability, flexibility, and scalability will be a far cry from those of the
standalone, departmental archive solutions with which most payment managers
are familiar. This interactive panel presentation reveals the archival
challenges posed by the emerging ePayments
environment, details the functional requirements for image and data archival
solutions going forward, and provides first-hand case studies on how two
banks implemented hosted archival solutions to support their ePayments initiatives.
Danne Buchanan
Evecutive Vice President, Zions Bancorporation
Gary Provo
EVP, Sales & Marketing, eGistics, Inc.
In the Mind of a Fraudster
In the multi-billion dollar industry that
fraud has become, criminals have learned to stay one step ahead of prevention
efforts. The nature of their ever evolving schemes leave
financial institutions grasping to stay on top of the latest fraud plots to
avoid financial losses and the erosion of consumer confidence. If only there
was a way to learn what these criminals are thinking, how they are organized
and where they might strike next in an effort to mitigate the risk and
prevent future attacks. This session delves deep into the mind of a former
world renowned fraudster who is now working with law enforcement to prevent
crime. This informative discussion provides intriguing details on how fraud
and identity theft has been perpetrated in the past, the nature of social
engineering, what is different today that makes it easier than ever for
criminals to commit such schemes, and where it might be headed in the years
to come. Attendees learn what methods are working to protect the payments
landscape today, making it tougher on criminals and safer for consumers. It
also highlights how financial institutions can prepare today for the fraud
schemes of tomorrow.
Gwenn Bezard
Research Director, Aite Group
Ori Eisen
Founder & CEO, The 41st Parameter
Kevin Mitnick
Founder, Mitnick Security Consulting, LLC
2nd Factor Authentication: Challenges
& Opportunities
There has been a lot of debate among
financial institutions around providing customers with second factor
authentication (2FA) solutions. In early 2007, PayPal
Inc. began offering 2FA tokens to PayPal and eBay
customers in the U.S., Germany, and Australia. In this session, you
will learn what organizations should consider when implementing second factor
security solutions -- from strategy and planning to technical integration and
rollout. Finally, the merits and consumer perception of various form factors
(tokens, cards, mobile phones, etc.,) are discussed.
Janet Jaiswal-Adams
Director, Identity Management Programs, PayPal,
Inc.
Beyond Compliance: Developing a
Customer-Centric Fraud Strategy
Recently implemented FFIEC guidance on
customer authentication has impacted the fraud prevention measures of many
financial institutions which in turn could affect the customer experience.
How can a financial institution ensure that customers enjoy the ease-of-use
and convenience of online banking and bill payment while complying with new
regulatory requirements? This session offers a fraud strategy case study.
Discussion includes the role of new authentication technologies in fraud
prevention, techniques for mitigating the impact of fraud controls on the
customer experience, consumer education, and the impact of guarantees.
David DeMarea
Director, Alternative Delivery Systems, Arvest
Bank
Matt Lewis
EVP & General Manager, EC Division, CheckFree
Corporation
Delivering Targeted Payment Products for
Small Businesses
Today's small business customer seems to
constantly get handed off between the retail, commercial, and loan
businesses. Regardless of where you place them, they likely do not fit.
Speakers in this session explore how to meet the payment needs of the small
business customer, tracking them as they evolve though various stages of
their business life cycle. Learn ways to segment small business customers,
match payment products to the evolving small business customer, and manage
this process across institutional lines.
Bryan Laws AAP
Director of Business Solutions, Digital Insight
Capturing B2B Payments: Winning &
Losing Strategies
Growing B2B electronic payments represents
a difficult challenge for most financial institutions. A successful strategy
hinges on understanding your clients and their customers. This session, based
on original research, examines the driving factors in different market
segments that cause your corporate clients to stick with paper or change to
electronic payments.
David A. Bochnovic
Executive Vice President, Phoenix-Hecht
Protection & Authentication: Online
Banking & Electronic Payments
Whether triggered by a desire to protect
online banking and ACH electronic payments customers from fraudsters or to
comply with regulation and guidance, such as that from the FFIEC, financial
services organizations require the ability to adapt to the ever-changing
threat landscape. Adapting is key because "one size does not fit
all" for the needs of multi-factor authentication. There are too many
moving targets; consumer preferences and needs change; and security, privacy
and usability must be balanced for online banking and electronic payments
user populations. A traditional password policy is still not enough. Other
options such as risk-based authentication, anti-fraud protection,
one-time-password technology, and site-to-user authentication protect the
online banking and electronic payments experience. The considerations
involved depend on the level of risk to lost assets and brand equity and the
cost per customer to implement and maintain a method of online security. This
session allows attendees to gather key information with a focus on real
business value and ascertain best practices to bring back to your
organization. Case studies on top ten banks and credit unions to address
real-world pain points and benefits of authenticating identities to deal with
the threat of online fraud, phishing, and identity
theft in online banking and electronic payments in both the U.S. and
abroad are presented.
Louis Gasparini
CTO, Consumer Solutions, RSA Security, Inc.
The IT Priorities of Community Banks in
Business Banking
As retail banking margins grow thin, many
community banks are focusing on the business banking side where greater
opportunities exist for a comprehensive customer relationship and the
revenues that flow from it. This session explores some of the challenges faced
by community banks and where their IT priorities lie. Speakers examine the
new online banking and payment capabilities they are now offering business
customers, and the growing importance of technologies such as remote deposit
capture, as they increasingly compete against the large banks. Information
presented is based on the results of an in-depth study of more than 250
community banks (with under $5 billion assets) conducted by Aite Group and the Independent Community Bankers of
America (ICBA). Gain a better understanding of how community bank strategies
are evolving and the IT capabilities necessary to succeed in today's fiercely
competitive business banking space.
Christine Barry
Research Director, Aite Group
L. Cary Whaley, III AAP
Associate Director, Payments Policy, Independent Community Bankers of America
A Clear Strategy for Growth: Owning the
Bill Payment Relationship
Online bill payment is one of the fastest
growing conveniences of online banking and one of the strongest ways to grow
your customer base. Customers who use bill payment are typically more
profitable and exhibit better retention characteristics. In a recent report, Celent stated that the online channel accounts for 20% of
the total volume of bill payments. In the next year, the share of payments
made at a bank web site will grow by approximately 45 %. As a result,
financial institutions are recognizing the importance of owning the bill
payment relationship with customers and looking to exercise greater control over
their online bill payment capabilities. At present, 60% of financial
institutions license a payment warehouse from an online banking provider, up
from 20% in 2000. In this session, speakers discuss the drivers behind the
loyalty that online bill payment creates between financial institutions and
their customers, and how banks can continue to look to payment warehousing
solutions to provide greater insight into the customer experience. Speakers
share how owning this relationship lets financial institutions grow online
bill payment user populations rapidly, while controlling bottom-line costs
and increasing top-line revenues.
Max Janasik
Director of Community Banking Products, Corillian
Corporation
Dan Schatt
Senior Analyst, Celent, LLC
Implementing a Health Savings Account
Program
This session delves into how one financial
institution selected a health savings account (HSA) partner and successfully
implemented and marketed an HSA program. The speakers discuss the partner
selection and implementation processes, HSA product functionality offered,
and benefits conveyed to employers and consumers. Learn how to successfully
market HSAs to corporate and consumer clients
directly and through distribution relationships. The financial opportunity offered by HSAs are
also discussed.
Anna Mickiewicz
Vice President, Wilmington Trust Company
Dennis A. Stover
Senior Vice President, HealthEquity, Inc.
Results of Four Different Mobile Payment Pilots Revealed
Most mobile payments solutions and their
early pilots have been focused on the use of one of three technologies: Short
Message Service (SMS), Mobile Wallets, and Near Field Communication (NFC)
chips. This session contrasts and compares the results of real-life pilots
for each of these technologies as well as the inaugural release of a
year-long pilot of a completely new mobile payment technology. Presenters
provide an interactive forum for objectively contrasting and comparing the
pros, cons, risks and costs of each of the technologies, approaches, and
market-making strategies for mobile payments. Fraud prevention across
technologies is addressed as well.
Richard K. Crone
Founder, Crone Consulting
Howard Gefen
VP, Marketing & Business Development, Obopay
Tia Lee
Chief Operating Officer & Co-Founder, TRG Mobilearth,
Inc.
Ajay Nigam
Director, New Products, M-Qubed, Inc.
Tom Spitzer
CEO & President, Tyfone, Inc.
Fraud Transaction Management: It's Not
Just a "Nice to Have"
Fraud is a huge concern across a bank's
enterprise especially in the payments area. Fraudulent activities can result
because of a bank's inconsistent risk management practices, siloed analytical fraud detection engines, case
management and rules systems, and lack of information sharing across the
payments channel. One way to avoid fraudulent transactions and perpetrators
of fraud is to have a common or "composite" view of all
transactions across your organization. You must have the processes and
technology to support such a view including common data integration, data
modeling, workflow, and dashboarding through the
use of a combination of a composite investigative case management platform
and a cross-payments transaction detection engine that allows you to view all
transactions for fraud patterns so you can stop fraud before it happens.
Unfortunately, many banks today do not tie together transactions, alerts and
alerting engines, data (structured and unstructured), and cases. Therefore,
they have a fragmented view of potential fraudulent behavior and
perpetrators. Speakers discuss the risk management processes that need to be
changed and share the benefits of implementing composite case management
applications to connect the dots so you can respond intelligently.
Robert Molloy
Global Business Services Consultant, IBM Corporation
IT Infrastructure: Reducing Stress to
Allow for Optimum Performance
The IT payments infrastructure is under a
lot of stress. Most banks do not have sufficient technologies to manage the
complexities that exist today. Not only must the systems of today manage
traditional payments processes but they must orchestrate new risk management,
compliance, growth and consolidation issues that are impacting all
organizations. Speakers in this session discuss how CIOs
and CTOs are being plagued by the lack of optimized
capability and skills available to address the complexity and inefficiency of
IT; inadequate asset utilization, increasing operational cost, and lack of
system flexibility. Obtain specific approaches to guide the development of IT
transformation and optimization that help to achieve significant improvements
in IT service delivery, cost reductions, and increased functionality for
payments. These include tips on readiness assessment and benchmarking IT
maturity levels to adopt new capabilities based on current IT skills, people,
process and technology. The design of governance required to
align IT capabilities with payments business objectives and to
prioritize IT projects and initiatives according to business impact is
discussed.
Deborah Baxley
Director, Global Technology Services, IBM Corporation
Welcome to Google Checkout
In this session, a representative from
Google provides an executive summary of Google Checkout, describes the
rationale behind the firm's entry into the checkout space, details the value
proposition for both buyers and sellers, and highlights its success thus far.
The speaker also provides insights into Google's thinking around the checkout
space, and the trends he sees evolving in online transactions.
Benjamin Ling
Head of Google Checkout, Google, Inc.
Industrialization of Banks
An intriguing phenomenon is on the minds
of a growing number of thought leaders -- the "industrialization"
of banks. Although the concept means different things to different people,
the underlying premise is that banks need to change, just as enterprises in
the manufacturing, automotive, food processing, telecommunications and other
sectors have. In order to become industrialized, banks need to segment their
business into the truly prioritized commercial areas, such as new products
and sales, and the more industrialized commodity areas such as processing and
related costs, automation/STP and the sourcing of specific areas within or
outside the organization. Will greater standardization of non-competitive
elements result? What benchmarks and reference models are available or are
required? What can be learned from other industries and adapted to the
payments environment? What are the implications for banks, their approach to
the market, and the competitive environment? This session examines this
provocative concept, raises strategic questions for consideration, and
challenges delegates to re-examine how they view the payments environment.t.
Mary Monk
Principal Consultant, Breakfree Independent
Consulting Service
mCommerce: A Call to Action
The convenience of your own mobile phone,
the overwhelming growth in text messaging as a form of communication and the
almost 100% adoption rate of mobile phones in our society all add up to one
thing. Namely, that there is a growing demand in this country to having
banking become another service available to a person using their phone
including paying bills, accessing balances and statements, monitoring
transaction alerts, reloading stored value cards, purchasing prepaid wireless,
transfering money, and text-to buy. Following the
lessons of history, sooner or later the mobile channel will experience the
focused fraud attacks that the credit card industry experienced in the
eCommerce channel and the online banking channel. What measures will be
necessary to make the mobile channel secure and to keep it secure? This
session will focus on what is happening currently in the mobile marketplace
and what the expected outlook is in the United States. Thought provoking
questions are asked about how this enormous and rapidly growing distribution
channel will change how banks interact with customers.
Tim Sherwin
Executive Vice President, Cardinal Commerce Corporation
Electronifying the Last Mile of EBP
Improvements in e-rates for Pay Anyone EBP
have slowed dramatically in recent years. Most processors and banks have
electronic payment remittance rates lingering near 80%. The "last
mile" of payment electronification is payments
to small businesses and individuals. At this time, no processor has
successfully electronified paper payments to small
businesses. Several have established small business self enrollment sites
with modest success, enrolling a few hundred or thousand small billers and individuals. This has not, however,
materially improved the electronic rate, since there are millions of small
businesses receiving payments from consumers. Further, today's electronic
remittance methods are disconnected from the biller's
typical payment stream, usually requiring manual processing to get the
payments posted in the biller's accounts receivable
system. In this exciting session, the speaker presents new, never-seen-before
primary research that demonstrates where and how small businesses and
individuals want to receive payments electronically. Alternative models for electronifying these payments are explored, and the
business case for banks and small billers to
improve consumer satisfaction while dramatically reducing their costs is
presented.
Fred Brothers
Managing Partner, eCom Advisors, LLC
Paper to Electronic: The Journey & the
End Game
Gain a complete end-to-end evaluation of
the impact of the "expiration of paper" on the payments business in
this holistic look at the transition. Presenters provide a snapshot of the
paths traveled since Check 21 was enacted, evaluate different strategies and
their resulting successes, explore the remaining work to be achieved, and
provide a futuristic, but achievable, vision of the impact of the rapid explosion
of electronic channels to financial services payments' landscape in 2011.
Topics covered include the impact of ACH developments on payment strategies,
the necessary steps associated with creating more competitive differentiation
among payment channels, and an attainable five year outlook on the payments
landscape.
Rusty Carpenter
Chief Strategy & Business Development Officer, Viewpointe
Ward H. Gailey
Senior Vice President, SunTrust Banks, Inc.
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