Extend Your Money Transfer Capabilities with TransferNow for Retail Online

Transcription

1 Extend Your Money Transfer Capabilities with TransferNow for Retail Online A Risk-Managed Account-to-Account Transfer Solution Presented By Jeff McCrory and Michael J. Smith March 10, 2015

2 2 Agenda Fiserv POV Strategic Context Product Overview TransferNow Demonstration Q&A

3 People aren t thinking about financial services.

4 They re thinking about

5 the people they love

6 the deadlines

7 fears

8 Can my business survive?

9 Can we afford the tuition?

10 Where will I be when I m 73?

11 Melding access to money and information about it

12 into the random moments of life at the point of thought

13 3 Points to Take Away Today about TransferNow 1 Consumers expect to be able to move money with a click. 2 It s easy to implement. 3 It s a game-changer. 13

14 Current Landscape Today s Increasingly Digital Financial Environment Online / Mobile Banking Electronic Funds Transfer Interbank Transfers Digital Identity Management Mitigating Risk and Fraud Expediting Transfer Processes Speedier Transactions Offers New Challenges for Financial Institutions And Demands a Solution providing these Outcomes Increased Revenue Reduced Losses Improved Customer Experience 14

15 Billions of Dollars (USD) Consumer Adoption and Online Transfers Nearly 30% of Consumers Have Made an Interbank Transfer Consumer Adoption and Total Dollar Volume of A2A Transfers (by Transfer Type and Channel) $700 $600 57% 60% 50% $500 $400 $300 29% 40% 30% $200 19% 20% $100 10% 10% Source: Javelin (Sept. 2013) $0 Online Intrabank Online Interbank Mobile Intrabank Mobile Interbank 0% 15

16 Annual Online Transfers Number of Transfers Made in the Past 12 Months (On Average per Person by Type of Transfer) Online intrabank Online interbank Mobile intrabank Using money service Online to individual Wire transfer Using nonbank provider Mobile interbank Mobile transfer to individual Nonbank providers like PayPal, Dwolla, Serve, Western Union and MoneyGram compete for transfer revenue Source: Javelin (Sept. 2013)

17 TransferNow Overview TransferNow is a convenient online account-to-account transfer platform that provides consumers an easy and secure way to transfer funds between accounts and financial institutions. TransferNow is recognized as creating the category of online interbank transfers (A2A) and enjoys an established, referenceable client network with 100% client retention. There is risk in moving money online. Reducing exposure to losses is key and foundational to TransferNow. Supporting A2A is a competitive necessity, a must-have. 17

18 TransferNow Market Leadership A Proven Platform Used by Top U.S. Financial Institutions 8 10 of the Top Financial 500 Institutions U.S. banks nearly clients of the Top U.S. banks 9% year over year growth in active users $54B dollar value of funds moved in 2013 Consumers Leader in enterprise fraud management and anti-money laundering solutions Chartis RiskTechQuadrant Named Best in Fraud Control FICO Decision Management awards Best-in-Class financial crime risk management CEB TowerGroup 18

19 Achieve a Competitive Differential Advantage with TransferNow Best-in-Class User Experience Continuous Improvement Adoption and Usage Proven Platform In-market 12+ Years Dependable & Tested Risk-Managed Solution Comprehensive Risk Tools Powerful Fraud Mitigation BackOffice Support Robust Support Tool Client Relationship Value 19

20 TransferNow: Risk-Managed A2A Transfer Solution Industry leading solution, facilitating inbound and outbound transfers Best in class user experience reduces drops-offs and promotes engagement Configurability to meet financial institution branding requirements for consistent look and feel Optimum placement within online banking via integration with Retail Online to drive adoption 20

21 TransferNow: Feature-Rich Convenient transfer options: onetime, recurring or future-dated Inbound transfers to loan accounts Proven risk monitoring platform with multiple verification methods to reduce fraud Multiple settlement options offer revenue opportunities: Next-day & 3-day good funds models 21

22 Transfer of Funds is Main Focus of User Experience Clean, Simple UX Design with Retail Online Call To Action messaging to assist end-user with outstanding tasks Add a New Account process incorporated into the Transfer Funds screen Single screen to set-up transfer whether one-time, future-dated, or recurring More engaged end-users and higher adoption rates 22

23 Back Office Support Compass Online Bank Office Transaction Management Platform Global Risk Administration Customer/Member Support Compliance 23

24 Industry Leading Risk-Managed A2A Transfers Systemic Controls Fraud Prevention / Risk Monitoring At the heart of the solution to protect the financial institution and end-user Post- Settlement Controls Risk Management Post- Initiation Controls Network Effect Unmatched network to proactively uncover fraud across all clients Mature Risk Platform In production for 12+ years with hundreds of financial institutions 24

25 Multiple Account Verification Methods Transfer Now Real-Time Verification Trial Deposits 25

26 In-Session Controls External Account Ownership Verification Real-Time Verification Accesses banking/broker sites with user credentials, verifying account and user name. Minimal user interaction required user asked to enter login credentials Allows users to start using external transfers immediately Login credentials are never stored, discarded after use Trial Deposit Verification Two micro deposits sent via ACH to account, user must return to correctly verify amounts of the deposits User interaction required user must verify correct micro deposit amounts Lower reliability than real-time verification, as user s name is not matched against account Most popular method in industry 26

27 Integration with Retail Online Provides faster-time-to-market Retail Online TM Shorter, simpler implementation Lower cost of implementation Optimum placement within online banking drives adoption Requires Retail Online 4.2 or higher Integrated single sign-on Passes eligible accounts, available balances and nicknames to TransferNow Default limits established, can be adjusted by financial institution 27

28 28 TransferNow Demonstration

29 Why TransferNow? Consumer Choices Revenue Opportunity User Convenience Proven Platform Consumers need to (and will) move money. Allow them to do it easily With You Speed matters. Charge a premium for next day delivery Enable funds to come to you Easily Flexible, risk-managed, feature-rich proven platform Enabling A2A Transfers. Empowering Consumers. Optimum Placement and User Experience Drive Adoption & Engagement 29

30 TransferNow Risk-Managed A2A Transfers: A Compelling Value Proposition TransferNow Convenient account-toaccount transfers, inbound and outbound. 30

31 Promotion TransferNow Implementation Special Offer Good through May 31, 2015 Implementation Fee discounted by 50% Completed Service Add Form returned to Fiserv by May 31,

32 Next Steps: Let s Get Started TransferNow Enabling Money Transfer. Empowering Consumers. Contact BillPay@Fiserv.com or your Fiserv Account Representative Watch for an from Fiserv Bill Pay Services Recording Copy of the slide presentation Service Add Form Return a signed copy of Service Add Form 32

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34 Learn more at 34

35 35 Q&A