|Monday, May 16
|What Banks Should Know About Cryptocurrency | Paving the Way for Blockchain
Larry Pruss, SRM
Blockchain technologies and their instant payments capabilities have loomed large on the fintech horizon lately, but what does crypto mean for the financial service providers of tomorrow? Tune in for a curated summary for banks & credit unions around recent news and emerging use cases around cryptocurrencies. This session focuses on the trends, potential impacts, new policies, and reasons why the financial institutions of today need to prepare for a few blockchain-driven changes - yesterday.
Three Key Takeaways:
· Recent crypto disruptions in FinServ since the pandemic
· Possible long-term recalibrations for the banking industry
· Strategies to weave in crypto into long-term payments decisions
Topics this session will explore:
· US Federal Reserve plans to launch a Central Bank Digital Currency (CBDC)
· Impacts of Distributed Finance (DEFI) to traditional banking
· Risk factors around adding cryptocurrency to the balance sheet
· Blockchain-supported financial solutions that traditional banking can offer to their clients
· Crypto regulatory landscape and the KYC risks
Banking on Chaos and Disorder
Tim the Banker
Community Bankers are bombarded with headlines talking about generational disruption, competing Fintechs, regulation and cyberattacks. It makes many want to throw up their hands and seek another career – but wait! Tim Leonard, will use clips from beloved science fiction movies to demonstrate how chaos is part of the natural order and how it should be embraced so banking careers can survive in this most wicked environment.
|Next Generation Banking
Jay Schulman, RSM
Customers are increasingly demanding more functionality, services and integration with their bank. Can the typical core banking platforms live up to the demands or do banks need to consider next generation core platforms? As banks consider adding digital assets like bitcoin along with alternative products, a more digital native core banking platform will be required. RSM’s Financial Services Technology team will outline innovations in banking technology along with helping manage the risks and regulators of moving to these platforms and products.
· Analyze current core banking platforms and considerations for next generation core platforms
· Evaluate innovations in banking technology related to digital assets
· Understand the technology required for adding bitcoin and other alternative products
· Identify the risks and regulation around adapting to these new generation platforms and products
|TECH: The Interactive Teller Machine (ITM)
Tim the Banker
Successfully implementing interactive ATMs is a complex endeavor and there is no reason to repeat others’ mistakes. The project is complex and can feel overwhelming but this technology is not just for the big banks. Learn how a small rural bank in East Texas implemented this emerging new tech and succeeded. Join Tim Leonard, CIO of Commercial Bank of Texas, as he shares what his bank did right but more importantly what they did wrong, so you don’t have to repeat other’s mistakes.
||TECH: Detect and Respond to Cybersecurity Incidents
You can’t be sure how or when your bank will experience a cyberattack, but you can plan on it happening. In this tabletop exercise bankers will role play a cybersecurity event and work their way through a sample Incident Response plan (IR plan). However, establishing a good IR plan requires more than fulfilling a checklist. During a cyberattack banks need to discover and effectively contain any damage as soon as possible in order to minimize unauthorized access to bank data and the resulting short-term and long-term effects to the bank. During this exercise, we will include additional considerations bankers should be making when creating an IR plan and their effects. Including:
• How will forensics be performed to investigate how the breach started?
• Do the employees know what to do? How do their actions affect forensics?
• Who will your key contacts be (executives, key vendors, employees, etc.)?
• How vendor task/responsibilities differ from the bank’s and the risks associated with outsourcing IT management.
• What is the expected recovery timeframe vs the realistic recovery timeframe?
• Potential ways to improve your current incident response policy.
OPS: Building Your Payment Strategy
Adrian Brown, The Clearing House
If the word “strategy” after the word “payments” surprises you a bit, this session is for you... and you are not alone. With the payments arena evolving daily, developing and executing against a plan has never been more critical. Simply posting and working exceptions will not move your organization forward, nor will it serve your customer base / account holders in the future. This session will discuss the components for developing a strategy to keep pace in today’s environment.
|Tuesday, May 17
| 8:30 a.m.
|How to Compete in a Post-pandemic Digital Age
Joe Sullivan, Market Insights
For many Americans, the coronavirus pandemic may feel over. But even as it subsides, it’s impact on how we live, work and bank will be evident for years to come. Community-based financial institutions are realizing that success in the post-pandemic era will require new tools, new talent, and a new strategic blueprint to stay relevant and competitive. This thought-provoking and forward-looking presentation will examine new developments in technology, retail delivery, and the workforce; and explain how these trends will impact an institution’s ability to achieve competitive advantage. The session covers: • advancements in consumer facing and core banking technology. • new competitors, including the role that big tech and big retail will play in financial services. • concepts for creating the post pandemic work force and workplace. • insights on how to prioritize and what resources will be essential for success.
Always a conference favorite, join in roundtable discussions with your peers to discuss today’s hottest banking topics, share challenges, discover common solutions, and learn from each other’s experiences. You’ll take away practical ideas and make valuable new connections!
|Facilitating Change: How to Get Employee Buy-in
Change is hard and convincing others to accept change can be even harder. Whether discussing a new product, a new methodology, or the importance of cybersecurity, obtaining employee buy-in can be a difficult task. In this session, we will look at real-world examples involving security awareness topics and discuss the five fundamental principles of facilitating change.
· Start at the top, obtaining senior management support.
· Make it personal, providing the "why" before the "how" or the "what."
· Be intentional, knowing the "what" and "how" before presenting the "why."
· Stay strong, resting assured in the knowledge of what's right.
· Celebrate, finding the silver lining.