David Godsman, Online and Mobile Solutions Executive, Bank of America

New government regulations during the last two years – combined with increased competition and rapidly changing technology – are rippling through the payments system. Financial institutions are focused on becoming the preferred destination when consumers think about their financial needs. The winners in this race will offer clear, consistent, simple payments experiences, a range of choices and control over how they buy, pay, manage and save – and won't be afraid to partner with competitors and companies in completely different businesses. This presentation will focus on the future of conventional payment vehicles (e.g., checks and debit), emerging technologies and new payment capabilities that will enable financial institutions to differentiate themselves from both traditional and non-traditional competitors; grow market share; and demonstrate to customers that they are prepared to engage with them where, when and how they want.

Steve Cree, Payment Systems Architect, Sterling Savings Bank
Brad Ganey, Senior Vice President, Chief Operating Officer, Catalyst Corporate Federal Credit Union
Marie LaQuerre, former Senior Vice President, Business Executive, Bank of America
Steve Max, Senior Vice President, Deposit Processing Division, U.S. Bank
Moderator: David Kliewer, Major Accounts Manager, MTS Software Solutions

With the evolution from central and regional capture to “distributed capture” and more recently multiple distributed capture channels, there are major benefits to be gained from both customer convenience and cost reduction.  Many factors such as customer demand, cost benefit and risk must be considered as a bank moves into these increasingly distributed capture channels and products.  This session will address the challenges banks are experiencing as they implement these expanding capture channels, as well as customer acceptance and satisfaction in the new capture vehicles.  Risk considerations relating to fraud detection, duplicate transaction detection and enterprise transaction view across these varied capture sources will also be addressed.  Finally, how risk mitigation can be balanced with attracting new customers and providing a high degree of customer satisfaction with these distributed capture products will be addressed.

• Strengths and challenges of each capture channel
• How each channel feeds into back end processing systems
• How each channel handles risk management
• How channels come together and how risk, fraud, duplicates are handled

Elizabeth (Cindy) Baltierra, Regulatory Policy Project Officer, FinCEN
Michael J. McKeown, Supervisory Special Agent, Cyber Division, FBI
R.B. "Skeet" Rolling, Chief Operating Officer, ITS Financial Licenses, Inc.
Moderator: Kirsten Trusko, President, Network Branded Prepaid Card Association

This session will explore the landscape of the legitimate and illegitimate uses of prepaid cards, evolving fraud schemes and the investigative challenges associated with them, and the existing and anticipated regulatory framework governing their use. Panelists will review product offerings, recommended best practices for distribution and fraud prevention, fraud trends and recent regulatory developments.

• Learn how law enforcement, regulators and issuers are responding to the constantly evolving fraud landscape
• Hear a discussion of industry best practices in fraud prevention and detection
• Learn how recent regulatory changes will impact the prepaid business and help combat fraud

Sanjeev Dheer, President, CashEdge Division, Fiserv
John Feldman, General Manager, clearXchange
Arkady Fridman, Financial Innovations Business Development Manager, PayPal
Moderator: Patricia Hewitt, Director, Debit Advisory Services, Mercator Advisory Group

Person-to-person payments, more commonly referred to as P2P, are being offered by more and more financial institutions -- as well as payment providers and third parties. While the current product offerings are scattered among varying sizes of institutions, these implementations have been somewhat siloed, potentially hindering widespread adoption and efficient usage.

• How should the P2P ecosystem evolve? Should we focus on strategic collaborative efforts at an industry level?
• Who or what are the potential target markets for current P2P profiles? Will the current P2P profile lead to expanded use, such as person-to-business?
• Could Dodd-Frank influence our modeling and delivery to our customers?
• How can we ensure the channel's security and our customers' protection?  

Cathy Davis, Vice President, Fraud Services, Comerica
Sam Romano, Vice President, Major Case Coordinator, Regions Bank
Silvia Sarra, Vice President, Manager of Loss Prevention Systems, Sovereign Bank

Account takeover (ATO) takes its toll not only in dollar losses but in loss of reputation and relationships with consumer and business customers who may battle the bank over who is responsible. Today’s financial institution fraud mitigation managers need to resist takeover assaults from traditional methods and those that arrive via cyberspace. The panel will discuss responses to:

• Traditional, manual methods for retail ATO --address changes, account name additions, replacement and/or new debit/credit cards, check orders
• Online/web methods for retail ATO -- authentication takeover with credentials, fraudulent bill payments, ACH draw to fund accounts, online account opening
• Traditional, manual methods for business ATO -- bookkeeper fraud; payroll fraud; payables fraud; stealing client names, addresses, bank account information from payroll files for ID theft; law firm debt collection schemes
• Online/web methods for business ATO -- malware/man in the browser attacks aimed at business online web applications with ACH/Wire; changing privileges/entitlements; changing account numbers for payables without changing the payee name

Silvia Sarra, Manager of Loss Prevention Systems, Sovereign Bank
Glen Ulrich, Senior Vice President, U.S. Bank

As transaction volumes and channels grow and resources shrink, banks need to be prepared to continuously improve the protection of payment systems. This panel will address how financial institutions of all sizes are improving operational efficiency, fraud detection and customer experience.  You’ll learn some of the tricks our panel of experts used in their drive for excellence, from leveraging best in class software to using good old fashioned ingenuity. You’ll hear specific examples of fraud operation improvements you can consider implementing in your own financial institutions.

• Specific examples of fraud operation improvements in various areas of fraud prevention
• How these leaders determine the best areas to invest in for improvements
• How these leaders gain approval for improvements, even during tough economic times

Brian Egan, Senior Vice President, Operations, Retail Payments Office, Federal Reserve Bank of Atlanta
Cheryl Venable, Senior Vice President and Product Manager, Retail Payments Office, Federal Reserve Bank of Atlanta
Julius Weyman, Senior Vice President, Product Development, Retail Payments Office, Federal Reserve Bank of Atlanta

The Fed leverages products and policy in its effort to serve as a catalyst for payments industry change. This annual forum features Federal Reserve officials discussing critical topics in retail payments today. Hear firsthand from Fed experts their view of major payments challenges and future directions in payments and how the Fed strategy is evolving to meet them. This year’s panel will take place in the context of one of the greatest periods of change for the payments industry in decades, and the Fed is at the center of defining how broad legislation will show up in tangible regulations.

Mike Kennedy, Executive Vice President, Enterprise Payments Strategy, Wells Fargo & Company
Kausik Rajgopal, Partner, Global Payments Innovation Practice, McKinsey
Karen Webster, CEO, Market Platform Dynamics
Moderator: Lee Manfred, Partner, First Annapolis

Understanding the financial services market, knowing when and where to invest in product and service enhancements, and overall execution of your plan is critical to achieving innovation success. Too often, efforts to innovate fall short, leaving executives searching for the reasons for their failures. Taking a top-down approach, well known financial services industry innovation experts will share their insight on:

• Innovating in a challenging economic and regulatory time
• Where banking executives are placing their innovation bets and the triggers influencing their decisions on new product and service development
• How progressive innovators source ideas, validate concepts and assemble solid business plans
• An effective innovation life cycle to gain market share and improve existing product solutions for millions of their customers

Ori Eisen, Founder, Chairman and Chief Innovation Officer, 41st Parameter
Amir Sunderji, Senior Vice President, Risk & Payments, Cash Edge (Fiserv)

Additional panelists to be announced

The U.S. is beginning to see the P2P space heat up with a steady stream of new commercial mobile and web deployments. As online banking has become more mainstream, consumers are more comfortable making payments using PCs, mobile phones and even tablets. As a result, consumers are demanding electronic alternatives to cash and checks for informal, low value P2P payments. As new business models and enabling technologies for P2P payments emerge, how will industry participants and regulators work together to detect and mitigate fraud and risk in these new payment services?  In this session, presenters will discuss the current landscape for P2P payments, including:

• Descriptions of the business models for recent trials and deployments
• Discussion of potential vulnerabilities in emerging P2P payment services
• Risk management initiatives financial institutions should implement as a countermeasure against fraud and risk losses

Detica NetReveal®

Dena Hamilton, Head Financial Service Markets- Americas

The battle with highly organized, flexible and persistent fraudsters is a major challenge. Understand how to protect your organization using a 360 degree review - from analytics to investigation - across all your channels quickly and holistically.

Subra Kumaraswamy, Director, Security and Trust Architecture, eBay
Laura Mather, Founder, Chief Strategy Officer, Silver Tail Systems, and Managing Director of Policy, Anti-Phishing Working Group

As the mobile channel evolves, it creates changes in the risk paradigm as to how institutions secure transactions and distribute customer products. This session will explore the current and evolving threats posed to mobile banking and mobile payments and explore recommended risk controls. An overview of topics covered includes:

• Risk in mobile payments vs. mobile banking
• How consumer use and complexity of the mobile channel has grown compared to internet use
• Risks associated with mobile as a banking channel
• How institutions can look for transactional trends associated with mobile fraud

Eric Leiserson, Senior Research Analyst, Fiserv Biller Solutions
Ed Bachelder, Director of Research, BlueFlame Consulting

Mobile bill payment is gaining traction among consumers, as more than 5.7 million online households make a bill payment from their mobile device each month. As smartphones become increasingly widespread, the service is poised for increased adoption. This session will explore the latest mobile bill payment trends, highlighting results from a recent survey of more than 2,500 consumers as well as preliminary results of a new mobile bill payment benchmarking study investigating deployment plans for mobile bill payment by companies and the pace with which businesses are adopting Mobile Bill Payment and Presentment (MBPP) options for their customers.

• Comparison of trends of bill payment made at biller sites and at banking sites
• Types of bills most commonly paid via mobile devices and what features will compel greater use of the service
• The latest consumer preferences for apps, mobile web browsers and text for making bill payments
• The relationship between mobile and paperless bill presentment (e-bills)
• Mobile bill payment’s key role in moving mobile financial services from informational to transactional

 

Joseph Baressi, Financial Services Project Leader, Federal Reserve Board
Janice Havins, Vice President – Assistant General Counsel, JPMorgan Chase & Company
Elissa Reynolds, Senior Vice President, Operations Manager, Bankers’ Bank Northeast
Moderator: Angie Smith, Senior Manager, Education Services, Viewpointe

In March 2011, the Federal Reserve Board requested public comment on proposed amendments to Regulation CC (Availability of Funds and Collection of Checks). When the comment period closed three months later, the Federal Reserve Board had received more than 80 comment letters from national and local banking and credit union associations, financial institutions, and other industry influencers, highlighting the needs and concerns of different segments of the financial industry. This session will provide insight into the lively and differing perspectives surrounding several proposed amendments and offer a front-row seat to engage in the dialogue surrounding regulatory change. It will include:

• An overview of the changes proposed plus the current status of Reg CC provided by a representative from the Federal Reserve Board
• A moderated discussion among financial institution representatives who will share their views on the most controversial issues included in the request for comment, addressing topics such as same-day settlement, large-dollar return item notifications and more
• Next steps toward resolution and implementation of changes to Reg CC

Melissa Horvath, Supervisory Special Agent, FBI
Terry Thornton, Senior Vice President, Fraud Services, Comerica
Moderator: Kim Duncan, First Vice President, Enterprise Fraud Management, SunTrust

As the sophistication of financial crimes increases, so does the need for financial institutions and law enforcement agencies to work closely together to identify trends and investigate and prosecute the fraudsters committing the crimes. Since sharing sensitive information in a timely manner is crucial in preventing and investigating fraud, it is important that a relationship of trust exist before an incident occurs.This session will provide tips and recommendations for institutions to establish relationships with their state and local agencies and provide an opportunity for participants to discuss challenges that may be addressed at an industry-wide level.

Lyn Farrell, Treliant Risk Advisors, LLC
Cliff Stanford, Alston & Bird, LLP

The Dodd-Frank Act is only the latest in a series of new laws over the past five years to bring about rapid changes to the rules affecting the DDA and the payments landscape. U.S. banks and payment systems are now regulated under a complex matrix of federal and state laws. Some laws are intended to be comprehensive while others are much more specific in their objectives, and all these laws bring about unintended consequences. Pricing models have been changed forever. New regulators have entered the mix. Rapid change in technology-driven business models has created new ambiguities in the law and questions affecting the path of bank business models.  Join this session for a discussion of:

• How banks are adapting to the assault on fee revenue streams and rethinking pricing of core account products
• How compliance functions are growing and adapting to new rules
• What lies ahead for banks as new regulators have entered the mix
• What competitive threats have emerged from outside the banking industry

Sassan Cyrus Parandeh, Treasurer, ChildFund International

In this session, attendees will learn how “hawalas,” an ancient fund transfer system, threaten the security blanket that the PATRIOT Act intended to provide. The speaker will explain the historical development of the methodology, the mechanics of how it operates and how it has adapted to 21st Century technology. The session is presented in a historical and story-telling format using many real-world examples and photographs collected from developing nations. It is designed to inform, educate, alarm and entertain. Join this session to hear: 

• How easily the PATRIOT Act can be circumvented from outside the U.S.
• Why the most dominant fund transfer system in the world is an ancient fund transfer system
• How any individual could create a currency or wire transfer system
• The history of ancient banking
• What can law enforcement do

Robert Coyan, Senior Vice President, Marketing & Operations, Corporate One Federal Credit Union
Jim McKee, Senior Vice President, Financial Services, Federal Reserve Bank of Atlanta
Luke Huys, Senior Vice President, Wells Fargo
Moderator: Tony Gerevics, Managing Director, JPMorgan Chase

Born in the age of paper checks, the hundred-year-old system of check routing and transit numbers is now outdated and ripe for change.  The geographically-based RT system is no longer the optimum solution for the delivery of electronic check items, where physical locations are irrelevant to the presentment process.  The system is currently being analyzed by a subcommittee in order to develop new ways to take full advantage of the opportunities afforded by image processing. The problem extends beyond mere inefficiency, introducing elements of risk into the check payment system. Fraudsters are taking advantage of delays in the return process, where items with retired RTs are sent to the original FI, rather than automatically being returned. This session will examine the possibilities of modifications to the current RT system. The presentation will include:

• Brief overview of the current RT system, how it works, and its history
• Issues with the current system
• Unique challenges the Fed faces with regards to the existing system and potential changes
• Update on the activities of the ABA RT Policy Modernization Subcommittee
• Stop gap solutions as well as ideas for wholesale redesign
• Potential solutions and answering audience questions

Shirley Inscoe, Fraud Management Consultant
Jodi Pratt, Principal, Pratt & Associates

Insider fraud is not a problem that can be solved by technology alone. Achieving the highest level of deterrence possible requires a holistic program of corporate diligence in policy, practice and automation. This session will discuss:

• How to create a strong ethical and anti-fraud culture that makes it clear from the first day of employment that the company does not tolerate fraudulent insider activity, including the need for corporate programs to aid employees in personal distress
• The importance of new hire candidate screening programs and rechecks to identify those with a history of unacceptable employment behaviors
• Why training for supervisors on how to recognize suspicious behaviors or situations is still critically important
• How technology can undergird the anti-fraud environment to identify activities that can help direct a company to internal hot spots that may not be noticeable visually