Session Description:

It is asserted that the U.S. payments industry could save US$7 billion per year if the ACH and the wire transfer systems were converged into a single electronic wholesale payments system. Converging the wire transfer and ACH systems will provide optimum payments capabilities and services, significant cost savings, and revenue-generating opportunities. This session will examine market factors and initiatives that suggest that now may be the time for this investment for the future of the U.S. payments system.

Although this session will challenge conventional wisdom, it also recognizes that evolutionary change may be more realistic than the revolutionary proposal. Therefore, this session will outline iterative steps and alternatives to improve the current electronic payments environment without eliminating existing systems.

About Nancy Atkinson:
Nancy Atkinson is a senior analyst at Aite Group, LLC. She specializes in wholesale banking issues including trade finance, treasury management, foreign exchange, financial supply chain management, and wholesale payments.

Prior to joining Aite Group, LLC, Ms. Atkinson was a First Vice President of Institutional Marketing at Mellon Bank. During her more than 20-year tenure at Mellon, Ms. Atkinson developed new products and services, focused on cross-selling institutional services, and introduced new eCommerce supported services. She worked extensively in Global Cash Management (GCM) and with Mellon Lab and Online Services, and supported electronic payment products, including Wire Transfer, Automated Clearing House (ACH), Electronic Data Interchange (EDI), and the private-labeled business of GCM.

Ms. Atkinson is a former Vice Chairperson of the National Automated Clearing House Association (NACHA) Cross-Border ACH Council that developed U.S.-Canada-Mexico cross-border ACH capabilities. She is, also, a former Executive Committee Member of the Financial Services Technology Consortium (FSTC), where she prototyped the Bank Internet Payment System (BIPS), an early eXtensible Markup Language (XML) based protocol.

Ms. Atkinson has spoken at a number of domestic and international venues, including NACHA’s Payments, TEXPO (regional AFP), Phoenix-Hecht, Infoline’s Graduate School of Electronic Payments, the National Association of State Treasurers and International Payment Systems.

Ms. Atkinson is a Certified Cash Manager (CCM), and a formerly Accredited Automated Clearing House Professional (AAP). She holds an MBA from Cornell University and a BA from William Smith College.


About Aite Group:
Aite Group is a leading independent research and advisory firm focused on business, IT and regulatory issues and their impact on the financial services industry.

Aite Group was founded by leading industry experts in Banking and Securities & Investments. The corporate philosophy of Aite Group is firmly rooted in the founders' belief that in today's rapidly evolving financial services industry, clients seek comprehensive, timely, actionable advice.

Aite Group seeks to become a true partner, advisor, and catalyst by exchanging ideas and challenging basic assumptions to ensure that our clients always stay one step ahead of the competition.

www.AiteGroup.com


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