5 Takeaways from NACHA 2014
More than 2,000 bankers, credit unions executives and vendors crowded into meeting rooms at a Marriott conference center in Orlando this week for NACHA's Payments 2014 Conference.
And because they did, they know things you don’t.
1. The disruptors are winning.
“Non-bank innovators are setting the payments agenda,” declared Margaret Weichert, principal, financial services, Ernst & Young. “The payments landscape is no longer dominated by traditional financial services players.”
2. It’s all about the consumer experience.
3. MRDC May Be Springing a Security Leak
An article of faith among proponents of mobile remote deposit capture is that fraud incidence via double deposits is trivial, that the problem is minor.
4. MCX Rising
MCX is the single biggest threat to the current bank payments system, pronounced panelist Paul Amisano, vice president, money movement and emerging payments at BB&T, a $182 billion bank headquartered In Winston-Salem, N.C.
5. Eyes on low energy Bluetooth.
Just about every panelist at the NACHA conference was, at most, ambivalent about the prospects of Near Field Communication powering the coming mobile point of sale revolution.