FUSION 2010

Posted by Mark Brousseau

During a panel discussion this morning at FUSION 2010 at the Gaylord Resort & Convention Center in Grapevine, Texas, Serena Smith of FIS, Les Young of US Bank, Blaine Carnprobst of BNY Mellon, Mike Reynolds of Image-Remit, Phil Ahwesh of PNC Bank, and Jill Humbert of 3i Infotech, shared the 12 things that attendees “absolutely must know” about the lockbox processing market:

1. Business-to-business (B2B) payments are still largely paper-based – but electronification efforts continue
2. Clients want tools for B2B decisioning
3. Electronic Bill Presentment and Payment (EBPP), home banking and mobile payments data is being integrated with lockbox information
4. There’s a convergence of lockbox, accounts receivable (AR) and accounts payable (AP)
5. United States Postal Services (USPS) changes – namely, five-day mail delivery -- will impact lockbox processors
6. While most biller volume is declining, there is an upswing in healthcare consumer self-pays
7. Federal government initiatives will help drive the electronification of healthcare payments
8. Changes are coming to payments formats
9. There is an increasing emphasis on disclosure controls
10. Risk management control mandates are driving up payments processing costs
11. Labor is becoming more costly and scarce
12. There may be more consolidation among lockbox providers

What do you think?