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Session Description:
Many declared
NACHA’s Back-office Conversion (BOC) dead on arrival upon
its introduction in March 2007. After all, POP check
conversion, launched in 1999, languished for years, and
published NACHA BOC statistics thus far have been
disappointing. But the real story reflects a strange irony.
While BOC will see significant adoption by large retailers,
its more profound impact has been to spawn a renaissance of
POP interest.
Early opposition to POP was due in part to its 'consumer as
keeper' design, leading to fear of consumer confusion and
slower checkout. BOC will be too little, too late, however,
to produce significant ACH transaction volume, as a result
of growing eCheck retail adoption offset by rapidly
declining check usage at point of sale.
This presentation will discuss the surprising interest in
retail check conversion among treasurers, given POP’s
seven-year history of lackluster transaction volume. This
presentation draws from a survey of more than 300 retail
treasury staff as well as interviews among solution
providers and hardware manufacturers.
This session is appropriate for
senior financial services executives
with responsibility for Retail
Treasury, Back Office Conversion (BOC),
POP Check Conversion, ACH, Market
Research and Strategy groups.
About Bob Meara:
Bob Meara is a
senior analyst in Celent's banking group. Mr. Meara’s
research focuses on check processing with emphasis on branch
capture, remote deposit capture, and deposit automation, as
well as check conversion, image exchange, and image
replacement document (IRD) solutions.
Before joining Celent, Mr. Meara was the director of product
marketing at Alogent. In this role, he positioned and
launched a series of Check 21 payments solutions.
Prior to Alogent, Mr. Meara was a senior consultant at
Stonebridge Technologies, where he developed e-marketing,
CRM, and Internet branding strategies for clients. He has
also held positions in marketing and brand management at
Telemate.net Software, BellSouth, Hayes Corporation, and
Procter & Gamble.
Mr. Meara earned a B.S. in Applied Physics and Electrical
Engineering from Case Western Reserve University.
About Celent:
Celent, LLC is a research and advisory firm dedicated to
helping financial institutions formulate comprehensive
business and technology strategies. Celent publishes reports
identifying trends and best practices in financial services
technology and conducts consulting engagements for financial
institutions looking to use technology to enhance existing
business processes or launch new business strategies. With a
team of internationally experienced analysts, Celent is
uniquely positioned to offer strategic advice and market
insights on a global basis.
www.Celent.com
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