ComplianceOnline

B2B Payments in the US and the Compliance Issues They Face

Instructor: Ray Graber
Product ID: 703624
  • Duration: 60 Min

recorded version

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Training CD

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Read Frequently Asked Questions

This webinar will discuss evolving payment types and the compliance issues surrounding B2B payments.

Why Should You Attend:

This webinar on compliance issues in B2B payments will provide attendees an in-depth understanding of other growing payment types and the role of key players in B2B payments. It will highlight the role of compliance officers and governing regulatory agencies as well.

The webinar will prove highly beneficial for those looking to understand the identity crisis that the B2B industry is going through in the US.

Areas Covered in the Webinar:

  1. Payment types that are declining and those that are growing: ACH, CHIPS, and Fedwire
  2. B2B check fraud and controls to put in place
  3. Key aspects of the role and key players involved B2B payments
  4. Regulatory agencies and their roles
  5. Role of the Compliance Officer
  6. Movement from paper to electronic and the issues that arise
  7. Non-bank payment channels
  8. Plans and polices to combat payment theft and related fraud
  9. Red flags to watch for and prevention methods
  10. Best practices for GRC

Who Will Benefit:

  • Payments professionals
  • Deposit operations managers
  • Cash management professionals
  • Corporate finance officers
  • Regulatory compliance associates and managers
  • Bank compliance officers
  • Risk/compliance officers

Instructor Profile:

Ray Graber has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research and consulting at TowerGroup, best practices internet security, policies, and procedures at FleetBoston Financial, wire transfer operations and product launches at Citibank and BankBoston, and treasury operations for a $325 million public company.

Mr. Graber was an adjunct professor at the Carroll School of Management at Boston College where he taught three graduate-level courses: E-Banking, the MBA Leadership Workshop, and Corporate Finance. Previously, he taught the Financial Management of Commercial Banks in the Boston College Carroll School of Management Masters of Finance Program and Working Capital Management and Cash Management at the Bentley College Graduate Business Program.

Ray holds a Bachelor of Arts degree in Mathematics and an MBA in Finance and MIS, both from Boston College.

Topic Background:

Banks are struggling to serve many masters; some with like goals and others with contradictory ones. Some payment types are declining while others are picking up that slack. ACH, CHIPS, and Fedwire payments are taking the place of B2B checks. Businesses of all sizes are trying to send payments in the most cost-effective way and not necessarily through the bank- established channels. New non-bank entities will arise to fill the void. There are a few large banks that process most of the B2B payments in the US. Most of these banks are also based in the US, but there are two foreign banks among them. Corporate financial professionals want a conversion from paper to electronic payments, but only if they can get the payment information with the money transfer.

The B2B payments industry in the US is struggling with an identity crisis. Regulatory authorities are demanding that the payments industry tighten their reins on the adherence to regulations and compliance mandates; technology is enabling payments providers, banks, and networks to venture further into new frontiers; practitioners are worried about security; and infrastructures are getting old and in need of repair or replacement. The task of replacing these systems is so daunting; no wonder no one wants to launch a project to overhaul the enterprise payments network within the business or within the banks.

The yearly payment volumes – B2B only - of processors such as CHIPS, Fedwire, SWIFT, and ACH are growing steadily, while checks are declining at a small single-digit rate.

Banks are spending significant dollars to upgrade existing solutions to support new SaaS and cloud-based integration interfaces to lower the cost associated with linking into corporate enterprise systems (both front office and back office). Banks are also adding resources to staff to improve integration to the clients made with the goal of getting a leg up on the competition.

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