Big Bang or Slow Ramp?

Big Bang or Slow Ramp?

Big Bang or Slow Ramp?

In Part 2 of our series of onsite interviews from the NACHA Payments conference, leaders of The Clearing House and NACHA discuss their faster payments initiatives and the credit union plays. John also recaps his trip to the Internet Identity Workshop (and explains an "un-conference") and ClearXChange shares thoughts on innovation in financial services.

Listen to part 1: Faster Payments and Same Day ACH: Real-Time from NACHA Payments

 

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In This Episode:

  • Steve Ledford, who leads The Clearing House’s real-time payments rollout, reiterates TCH’s plans to go live in early 2017, outlines their approach to achieve ubiquity, and explains the credit union value proposition for their solution. While not executing a “Big Bang” Steve does anticipate “a fairly quick ramp”
  • Russ Oatman, Chairperson of NACHA, speaks about the value of Same Day Payments from the perspective of his role as President of the First National Bank of Omaha. He sees a stronger revenue opportunity in business payments, and plenty of room in the marketplace for real-time and same-day to co-exist as complementary solutions. Unlike Steve, however, Russ is in the “slow ramp” camp
  • Melissa Lowry of ClearXChange discusses the difficulty of “getting something new 100% right the first time,” and offers some ideas for how credit unions and banks can roll out cutting edge products without risking member disruption and in spite of regulatory constraints
  • John raves about his experience at the Internet Identity Workshop, an “un-conference” held in Silicon Valley last week

URLs related to this week's BIGCast:

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About BIGcast Network

Credit Union Industry Experts, John Best, Founder of Best Innovation Group (BIG), Glen Sarvady, Managing Principal at 154 Advisors and Anne Legg, Founder of THRIVE Strategic Services have teamed-up to offer a new podcast series to form the BIGcast Network. The BIGcast will become a twice weekly podcast and will be offering financial news and thought leadership in the areas of Business Strategy, Innovation, Payments and Leadership to financial institutions globally. Meet the BIGCast Network Team:

John Best is recognized as a thought leader and visionary of technology advancements and financial application development within the credit union industry. Requests for speaking engagements include Symitar national and regional conferences, Information Technologies Credit Union Association annual conference, and CUNA Technology Council, CUNA Marketing Council, CUNA lending Council Filene Water Cooler Annual Symposium and Correlation annual meeting as a keynote speaker.
Anne Legg is founder of THRIVE Strategic Services. THRIVE leads organizations to goal attainment via data translation resulting in innovative and transformational business strategies. Anne is a recognized credit union expert and thought leader with an MBA thesis on the credit union business model as well as two internationally published whitepapers on credit union business strategy. She has served as an SME for CUNA and National University and has instructed at several CUNA schools.
John Janclaes has more than thirty years of experience in the financial services industry, spanning retail banking, brokerage, and insurance. He joined Partners Federal Credit Union in June 2004 as President and Chief Executive Officer. With eleven branches located primarily in California and Florida, Partners serves employees of The Walt Disney Company, currently numbering more than 140,000 members with$1.6 billion in assets under management.

John is founder of The CEO Corner, an online forum to help business leaders and their organizations thrive (www.theceocorner.com). In recognition of John’s commitment to leadership development, proceeds from the sale of his leadership book, "Doing What Matters" will be donated to support scholarships for business leaders in training.
Glen Sarvady’s episodes of the BIGCast will focus on top-of-mind topics impacting the payments world, analysis of recent product launches, acquisitions, partnerships and innovations, and on-site reporting and interviews from industry venues like Finovate, Money 20/20 and NACHA Payments. Interviews will be brief and to-the-point, emphasizing substance and avoiding informercial territory. As with other BIGCast Network offerings credit unions receive added attention, but the discussions will be relevant and entertaining for strategic thinkers across the financial services spectrum, particularly those interested in consumer and small business experience and the real-world effects of breakthrough payment innovations.

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