Breakout Session #5

Sundeep Kapur

The Five Pillars of Your Payments Strategy
Sundeep Kapur, Digital Credence Inc.

Your members pay for products and services every single day. Their wallet carries numerous cards and one or more of these cards could even power their digital wallet(s). FinTech and large financial institutions continue to pursue your members to adopt their “superior, seamless, convenient, secure, and incentive-laden” payment instruments.

How do you compete in this arena? What would it take for you to earn your members’ confidence to be that top of wallet card? What would a leading with payments strategy do for your credit union? Can you truly lead with payments?

Five things form the foundation of an effective payments strategy:

  1. Superior Service: Timely and proactive responsiveness that will make it easier for you to serve members, keep them, and get new members
  2. Earnings Growth: More cards, more usage, portfolio growth – payments as a strategic moneymaker for your credit union
  3. Circumvent Fraud: Fight to circumvent fraud – card present, card not present, social engineering, heuristics, and even curtail false positives
  4. Drive Innovation: The future is about touch-point real-time authentication – card controls, deciphering big data, and being like or better than FinTech
  5. Consistent Experiences: Giving the members seamless frictionless experiences – p2p, debit, credit, ACH, digital wallet

Join a discussion on ideal practices. Innovative, yet practical ideas to power your payments strategy.

About Sundeep Kapur

After 24 years in corporate America as a business and technology consultant, Sundeep returned to his passion. He seeks to address challenges faced by Financial Institutions by offering innovative, yet pragmatic approaches. While at NCR Corporation Sundeep was part of the electronic commerce group which focused on cloud based digital personalized services. This group supported retailers, entertainment companies, and financial institutions. The group focused on internal and external compliance including adhering to the SSAE 16 and SOC certifications. Translated, this meant working with brands to create standards for data protection, transaction integrity, and fraud management. He has had the opportunity to break in and audit specific financial institutions and retailers using a myriad of approaches – in person, on the phone, and via digital channels. Sundeep has had an opportunity to work with brands like MasterCard, Visa, Equifax, Overstock.com, Dillard’s, The National Sports Forum, and multiple financial institutions. Sundeep has also been involved in a FinTech initiative on payments where fraud management is one of three critical components. Sundeep has a B.A. in Economics, a B.S. in Computer Science, and an MBA.

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