The B2B payments industry in the U.S. 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. At the same time corporations are asking for more efficient and information processing methods.
Financial institutions spend millions annually to support the various payment methods in use. Regulatory requirements are adding extra pressure and absorbing the precious time, money, and resources from banks.
In this two day workshop conference, participants will learn how payment types are declining while others are picking up that slack. ACH, CHIPS, and Fedwire payments are taking the place of B2B checks. Attendees will learn how 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 U.S. This workshop will discuss the role of these large banks as well as how regional and community banks are dealing with these issues.
Upon completing this course, participants should understand:
- The major B2B payment processors
- Volumes and trends
- Payment uses by corporations
- Settlement differences
- Infrastructure and processes
- Regulatory oversight
- Compliance issues
- Difference between corrective and preventative actions
- Where an issue can be localized or must be evaluated for systemic effect
Who Will Benefit:
This course is designed for payments, operations, and finance professionals to gain a better understanding of the U.S. B2B payments environment and the regulatory and compliance issues it must endure. Each professional will learn from the others to get a more well-rounded view of U.S. payments systems, its complexities, and challenges. The following personnel will benefit from the course:
- Payments professionals
- Deposit operations managers
- Cash management professionals
- Corporate finance officers
- Regulatory compliance associates and managers