It used to be that small businesses and banks were two peas in a pod. Small businesses turned to banks when they started their businesses or wanted to grow their businesses, and banks, in turn, were able to offer a portfolio of solutions that met their needs. The combination of the financial crisis and emerging innovators have given banks fewer tools to offer and SMBs other places to turn to for those products.
In fact, recent reports suggest that only 35 percent of FIs feel that they have solid plans for how to engage SMBs and recapture that aspect of their revenue mix.
That’s where mPOS might make a difference. SMBs of all types now have better options for getting paid using point of sale options that even a few years ago weren’t feasible for them. And, who better than FIs to not only make those solutions available to them, but to help them integrate those solutions into their bigger business picture?
But, as well positioned as FIs may be to extend their range of services to include mPOS, a host of questions remain. What type of product is best suited for FIs, and what capabilities are required in order to best serve their SMBs? What is the business model that supports it? How should FIs go to market with such a solution?
This digital discussion, to be held on December 4 at 11 a.m. EST, will feature experts at the intersection of mPOS and financial services, and offer a point of view on how to actually use mPOS to not just better serve SMBs, but to open new revenue opportunities for SMBs.
Ken Paull, CEO of ROAM
Ken has over 20 years in senior management roles in the electronic payments industry including senior vice president at RBS Lynk (now WorldPay), vice president at Triton Systems and general manager at VeriFone. He was responsible for building and rapidly growing what is now WorldPay’s national account payments division while also directing the turnaround of what had been a declining ATM processing business. While at Triton, the company surpassed NCR as the second largest domestic ATM supplier and also became the global leader in retail ATM deployments. At VeriFone, Ken built their major account, retail division which has become one of the largest segments of their business. Most recently, Ken has held positions of board director at Access to Money, director at Market Platform Dynamics and president of Pax. A native of the Boston area, Ken holds a B.S. in Marketing and Communications from Babson College, as well as an MBA in Telecommunications Management from Golden Gate University.
John is an Executive Committee member for the CUNA Technology Council and is Chair of the Payments Committee for the CUNA Technology Council
John Best serves as Chief Technology Officer of Wescom Central Credit Union. Mr. Best serves as Senior Vice President of Wescom Resources Group. He leads all product planning and development for WRG. He served as Vice President and Chief Technology Officer of Wescom Resources Group. He also served as a Director of Technology at Wescom Central Credit Union. Since joining WRG in 2004, Mr. Best has effectively managed the implementation teams, envisioned and orchestrated the development and rollout of many key enhancements to products and has improved team processes and service levels. He has led the architectural design and enhancement of eBranch and Wescom’s electronic banking platform. Mr. Best graduated from University of Phoenix with a Bachelor of Science in Information Technology.
Your Host and Moderator
President of PYMNTS.com and CEO of Market Platform Dynamics
Karen Webster is one of the world’s leading experts on payments and is an advisor to CEOs and boards of multinationals operating in the payments and broader financial technology sectors. As the CEO of Market Platform Dynamics, she works extensively (and hands on) with the most innovative players in the payments, financial services, mobile, B2B and technology sectors to help them identify, ignite and monetize innovation. Ms. Webster also serves as a member of the board for a number of emerging companies to help them develop and implement business strategies that drive market adoption for their products and services. Ms. Webster’s particular area of expertise is platform design, strategy and business models.