Proactive Strategies to Combat Payment Fraud
Treasury practitioners are challenged with evolving payment options and increasing organizational complexity. The use of new technology brings many advantages but can also challenge treasury teams to combat payment fraud as new payment channels emerge. Controls such as positive pay and debit blocks are proven fraud prevention tools but are not as effective in combating social engineering fraud. As payment networks, systems, and platforms evolve, criminals often move faster than the control environment. The panel will discuss Business Email Compromise (BEC) with real examples, as well as discuss emerging threats and strategies to combat payment fraud (both prevention and recovery). Practitioners will discuss how to create comprehensive payment fraud risk mitigation strategies to significantly reduce the financial risk to organizations.
Shawna Kolkmeier, SVP, Healthcare Treasury Management Consultant, Wells Fargo
Daniel Perez, Director, Treasury, Horizon Blue Cross Blue Shield of New Jersey
Ben Zviti, Senior Vice President, Marsh
“The FBI is on Line 2” – The Good, The Bad, and The Reasonably Attractive Parts of Payments
“I used to consider myself a payments risk expert, right up until I received that subpoena.” – Kevin Sasser This session will share a first-hand account of the impact of the risks associated with ACH processing and how a payments executive landed on the witness stand in a federal trial. Included in the discussion will be the strategic and tactical mistakes made, the resulting impact, and the common three-step formula fraudsters are using today. We then will discuss today’s common practices that make payments organizations more vulnerable to third-party risk, how to identify these practices, and the steps that can be implemented today to protect your organization.
Terri Sands, Founder, Secura Risk Management
Kevin Sasser, Director of Strategic Initiatives, Argos Risk
SWIFT on Payments: The Future is Now
Innovation in cross-border payments continues to be on the rise – driven in part by new market entrants, evolving technologies, and regulatory & compliance pressures. Customers expect the same fast and frictionless payment experience that they receive in their everyday lives, creating a catalyst for the global transformation of banking and financial services. What innovations should be prioritized in order to ensure cross-border transactions become faster and simpler, while remaining secure? How are banks responding to customer demands for speed, certainty and traceability; coupled with transparency of fees and rich remittance information? Hear first-hand how financial institutions and corporates are already transforming their cross border payments experience with SWIFT gpi.
Pankaj Gudimella, Director, Microsoft Corporation
Rene Schuurman, Global Product Manager Connectivity, Citi
David Scola, Head of North America, SWIFT
Dealing with Cash: The Currency Logistics Conundrum
Cash is steadily declining as a payment option, but until it is gone completely, it still represents a real logistics challenge for treasury organizations. Treasury is tasked with finding the best cash processing solution for the business – one that improves processing efficiency, enhances employee safety, and frees up personnel to focus on vital customer service. In this panel discussion, H&R Block and Big Lots will discuss their approach and strategies in evaluating available currency logistics options and how they selected the one that works best for their respective organizations. We will examine when traditional cash vault solutions make the most sense, as well as when a non-armored carrier currency processing solution tailored to deposit and POS/reconciliation processes can deliver optimal savings. An industry analyst will offer insights into the latest trends across the industry. Attendees will come away with invaluable perspective on cash logistics.
Jason Stambaugh, Director of Partner Experience, DTS Connex
Beyond Speed: Emerging Payments Application in the Real World
The speed and complexity of doing business is increasing – businesses are looking for more innovative payment solutions that can help them better adapt to the pace of today’s financial transactions. Hear how two early adopters of RTP® and Zelle® are embracing new payment types. This session will provide unique insights from two Commercial Real Estate companies who are leveraging new payment types to address longstanding challenges associated with check payments. Grand Peaks is using Zelle for tenant reimbursements — minimizing the use of checks that often end up in escheatment. Simon Group is incorporating RTP into their vendor payment strategy — exploring ways to leverage the full range of system capabilities in an effort to migrate from checks. We will highlight the enhanced remittance attributes and fraud prevention features of these emerging payment types, as well as explore their application in commercial real estate and other industries.
Erasmo Pacheco, Vice President, Treasury Solutions Group, PNC
Julie Schwierling, CTP, VP of Treasury Services, Phillips Edison & Company
Moving Money & Data Together: Making Payments Smarter - Not Just Faster
Many have tried, most have failed. But new technology solutions have a path to effectively and accurately move both payments and payment data together in near real-time. Traditional methods without straight through processing struggle to automatically apply payment information. This discussion focuses on improving the customer experience from the treasury operations perspective at two of the nation’s largest energy companies. How will technological innovation in the payments industry help? Industry experts share new developments to improve the customer billing and payment experience.
Frank D'Amadeo, Director Treasury Operations, Con Edison
Joe Proto, CEO/Chairman, Transactis
Kimberly Sipes, CTP, Director Treasury, Duke Energy Corporation
Exploring the New Reality: How Real-Time Payments is Transforming the Industry, and Why We Need to Care
Faster payments have been an increasingly compelling topic over the last few years, with many channels, networks and solutions at the center of much industry discussion and hype. Since the RTP® network launched two years ago to provide the U.S. with a safe and economic means to instantly send payments and messaging 24/7/365 to accounts at virtually any bank across the country, reception to the new system has been mixed. While early adopters are paving the way with new tactics to customize its use to enhance individual service offerings and optimize treasury operations, others have taken a more cautionary, wait-and-see approach. Presenters in this session will explore the pros and cons of these two strategies; provide an update on RTP network usage as it stands today, including its reach, new capabilities and practical applications; and investigate the details around how one corporate practitioner has taken steps to leverage this network in 2019.
Carl Slabicki, CTP, AAP, Director and Product Line Manager, BNY Mellon
Reducing Payment Fees Isn’t Just a Fad
In 2017, U.S. merchants paid $7 billion in credit card processing fees with many overpaying for one of three reasons: they feel helpless in controlling their processing costs due to a lack of internal expertise, they don’t have enough time or resources, or just don’t think it will make enough of a difference to justify their time. In this session panelists recount their experiences in managing credit and debit card payments and how they significantly reduced their merchant processing fees to improve the bottomline.
Anand Goel, CEO, Optimized Payments Consulting
Laura Woop, Director-Risk, Payments, Credit, Tiffany and Company
Optimizing the Client Experience Through Payment Automation
Join us for a discussion of one company’s innovative approach to enhancing their traditional consumer payment methods. Learn how they collaborated with their solution providers and internal partners to create an empowering and easy client experience while optimizing their payment processes. Understand the value that the latest trends in B2C payments are creating for businesses from the faster payment network experts by discussing first to market B2C use cases and why they are gaining traction with corporates.
Hope Hacker, AVP, Assistant Treasurer, Nationwide Insurance
Mary Hanselmann, Working Capital Consultant, U.S. Bank
A Better Cash Receivables Solution: How Retailers Can Harness Vital Analytics
Managing cash receivables has always presented challenges for retailers as they cobble together relationships with multiple banks and couriers to cover their footprint. Besides lacking the efficiency of a national solution, this decentralized approach fails to provide visibility into critical in-store data around receivables that could provide invaluable analytics insights. Hear the latest trends in cash receivables and best practices for working with a banking partner to improve back-office processes to gain efficiencies in cash operations and reconciliation.
Josh Dunaway, Sr. Treasury Management Product Manager, Fifth Third Bank
Andrew Teachout, Business Analysis Manager, Starbucks Corporation
Lou Salafia, President, DTS Connex
Avoid Mistakes: Make Fewer Assumptions About Blockchain
Whether you’re a payment, finance, or risk management professional, blockchain could impact you and your business. Some of the more promising use cases, for example, seek to create efficiencies in supply chain which have impacts on B2B payment processes. Most have heard the hype about the distributed, decentralized ledger that creates an immutable record of transactions for participants in the network to efficiently share information without trusting each other or a central authority. But what if what you’ve read is potentially misleading? For instance, how words like “immutable” or “central authority” are used could fundamentally change how or if you should invest in the technology. And the promises of blockchain seem to suggest adoption is imminent, yet few implementation are live. Join us for a discussion on the questions raised by both the technology of blockchain and how we talk about it. You’ll gain insight into what’s happening now and what to think about for the future.
Jim Cunha, Senior Vice President, Treasury and Financial Services Group, Boston Federal Reserve
Angela Lawson, Senior Payment Consultant, Minneapolis Federal Reserve
Transforming AP/AR Using Blockchain, Standardized APIs and Validated Data
NACHA has created new infrastructure and tools to improve key AP/AR processes, and lower fraud risk. Working with leading edge technology partners, these integrated services herald a new era for "the corporate experience" in procure-to-pay and order-to-cash. This session will demonstrate functions and features for how the NACHA blockchain, Afinis standardized APIs and validated data can transform cumbersome methods for AP (e.g., adding supplier to master, compliance verification, payment) and AR (e.g., providing payment and compliance information, cash application hit rate). At the same time, these services can also improve internal controls and lower risk.
George Throckmorton, Managing Director, Strategic Initiatives and Network Development, NACHA
Next Generation Technology: Virtual Accounts in Centralized Treasury
Corporate treasurers are always looking for the next generation technology that delivers improved efficiency, better control, and streamlined reconciliation. Today the answer just might be virtual accounts. Traditionally used as a receivables tool, banks in the U.S. are taking this solution to the next level—offering more flexibility in how and where virtual accounts can be used. Learn how Virtual Accounts can simplify processes and add value at every step from payor identification, to account rationalization, to enhanced visibility, to greater security.
Kevin McKeever, Regional Head of Payment Advisory, HSBC Bank USA, N.A.