Industry Innovation Session

Monday, October 27, 2008
12:15 pm - 1:45 pm
Room – Aurora

In a continuing effort to give participants increased opportunities to gain insight into technology advancements and vendor solutions, we are pleased to continue to provide our series of IIS’s. Hosted by some of the industry's leading solution providers, these 75-90 minute demonstrations and discussions are a great way for participants to maximize their learning experience. Sessions will take place during lunch, Monday October 27th, and participants will be served lunch during the presentations.

Online Payment and Transfer Services for Small Businesses: An Untapped Opportunity for Banks

Presenter:
Behram Panthaki

Small Businesses have traditionally been underserved by banks for most of their online payments needs. They have typically been served from retail online banking platforms that just do not address the growing needs of this population. There are close to 20 million small businesses (defined as fewer than 20 employees) in the US and there is a high demand for payment solutions targeted toward this segment: recent survey findings and usage data from this group have revealed significant growth in online payment, invoicing and collections.

Financial institutions are facing an opportunity to serve a previously untapped, lucrative customer segment. Those banks that decide they want to compete in this market will be able to grow their customer base through an extremely profitable technology. However, banks that don’t act quickly will see a high-margin line of business snatched away from them by other institutions and non-FI payment providers.

This session will address opportunities for financial institutions in the small business payments market, potential solutions that have been successfully used by top banks, and how these payment solutions help financial institutions create a stronger relationship with their small business customers and increase profitability.

CashEdge will be providing an overview of their current offerings as well as introducing the Company’s new offerings.

Note: Lunch will be served during the sessions and attendance will be guaranteed to the first 50 registrants. You may register at the conference registration counters.