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Digital Transformation JUNE 2021 A DECADE OF DIGITAL TRANSFORMATIONIN 12 MONTHS 100 Kushki 148 Sezzle TABLE OF The Roaring 20s: Installing Decentralized Trust Next-Gen Payments: A Trend That Is Here To Stay CONTENTS For Global Commerce Charlie Youakim, CEO Aron Schwarzkopf, CEO 152 Sift 08 ACI Worldwide 52 Early Warning 104 LendingClub Navigating The ‘Fraud Economy’ In The Digital Era How The Pandemic Restructured Customer Relationships At The Center The Future Of Payments And Banking: Marc Olesen, President and CEO The U.S. Real-Time Payments Conversation Of Financial Services Transformation Moving Beyond The Branch Experience Odilon Almeida, President and CEO Donna Turner, COO Scott Sanborn, CEO 156 Stellar Moving Closer To Borderless Commerce With 12 Agreement Express 56 Elan Local Solutions 108 Limonetik The Growing Importance ‘Many Ways To Make A Payment’ Is Here To Stay Denelle Dixon, CEO and Executive Director Matt Carpenter, SVP, Market Director Riding The Wave Of Disruptive Marketplaces Of The Omnichannel Marketplace Hassan Issa, COO Dave O’Brien, CEO 160 sticky.io 60 Equifax Creating Frictionless Payment Experiences With 16 AWS The Customer Experience Is Always Right 112 LoginID The Power Of Digital Cloud Technology Drives Financial Institutions Sid Singh, President The Digital Commerce Tsunami And The Ongoing Brian Bogosian, President and CEO To Innovate Payments Payment Ripple Effects Mark Smith, Head of Payments for Financial Services Simon Law, CEO 64 EVO 164 The Clearing House The Benefits Of Payments Change Will Payment Changes Forced By The Pandemic 20 BillGO Pay Off Post-Pandemic 116 London & Partners Provide Businesses With Competitive Advantages Post-Pandemic, Look For Greater Collaboration Tom Panther, CFO The Key To Creating Scale Amid A Crisis Jim Aramanda, CEO Between Fis And Fintechs Eager To Give Allen Simpson, Acting CEO Consumers The Digital Tools They Crave 68 Featurespace 170 Transcard Dan Holt, Co-founder and CEO Only The Adaptive Survive 120 Mastercard How To Modernize Payments And Thrive David Excell, Founder Digital Technologies Enhance Post-Pandemic 24 BitPay The Customer Experience Greg Bloh, CEO Adopting A “Cryptocurrency Strategy” Will Only Johan Gerber, Executive Vice President, Succeed If It Includes A Compliance Strategy 72 Fiserv Security and Cyber Innovation 174 USEND Eden Doniger, General Counsel A Future Of Sustainable Omnichannel Commerce From Local to Cross-Border: and Chief Compliance Officer Nandan Sheth, Head of Carat and Digital Commerce A Financial Services Awakening 124 Neuro-ID Ran Grushkowsky, COO/CTO 76 Flywire The Customer Is King, More Than Ever 28 Blackhawk Network Jack Alton, CEO The Payments Time Warp That Is Reinventing Payments As An Integral Part Of The 178 Versapay The Customer Experience Customer Experience Businesses Must Embrace The Digital-First Model Talbott Roche, President and CEO Mike Massaro, CEO 128 Payoneer To Deliver Exceptional Payment Experiences Digital World: Unlimited Opportunities, Craig O’Neill, CEO 80 i2c Real-World Problems 32 Boost Payment Solutions Agility And Flexibility: A Business’ Best Friend Scott Galit, CEO Digitized B2b Payments Will Likely Continue Amir Wain, Founder and CEO 182 Very Good Security To Grow Post-Pandemic Security And Compliance Shift From Barriers To Carl Mazzola, Chief Strategy Officer 132 Pollinate Competitive Advantages 84 IDEMIA Banks Can Deepen Digital Transformation Through Mahmoud Abdelkader, CEO Identity At The Heart Of The Contactless World 36 CellPoint Digital Democratizing Data For Small Businesses Matt Cole, CEO Tim Joslyn, Chief Technology Officer Brands That Don’t Digitize Face Being Left Behind 186 Vindicia Kristian Gjerding, CEO Direct-To-Consumer: Prioritizing Personalization 88 Ingo Money And User Experience Lasting Pandemic Payments Lessons 136 PSCU A Year Of Transition And Digital Acceleration Sharath Dorbala, CEO 40 CO-OP Financial Services Drew Edwards, CEO Post-Pandemic Preferences Confirm Payments Tom Gandre, EVP, Chief Operating Officer Todd Clark, President and CEO 190 Western Union 92 J.P. Morgan The Strongest Digital Players Will Redefine User Experience Drives Irrevocable Change 140 Rectangle Health The Market 44 Cover Genius Safety Paves A Path To Digital In Retail And Consumer Industries Shelly Swanback, President, Product and Platform Simplicity Is Key To Embedding Healthcare Payments Manish Jain, Global Solutions Head Digital Transformation Dominick Colabella, CEO Dave Brune, President for the Americas 96 Kount 48 Digital River Hybrid Physical-Digital Buying Experiences 144 Rightpoint The Paradox Of Payments Choice Catering To Consumers’ Newly Digital Lead Post-Pandemic Trends Anamika Lasser, Chief Experience Officer Shopping Behaviors Vikram Dhawan, Vice President Adam Coyle, CEO and Senior Product Leader As much as the next big thing is still taking shape, what came before it is never coming back, at least not when it comes to commerce. That was the consensus of 46 C-suite executives and corporate leaders when asked about the emerging digital economy for PYMNTS’ Q2 eBook. The good news, this elite GRADUALLY group agreed, is that what does come back will be better for both consumers and merchants THEN than the way things were before. “Gradually, then suddenly.” So goes Ernest SUDDENLY: Hemingway’s famous line from “The Sun Also Rises,” in which a main character responds to an inquiry as to how it was that he had gone THE IRREVERSIBLE bankrupt. RISE OF DIGITAL It’s a better-than-average answer to get if you were in a bar, to be sure, but also not a bad explanation of the digital acceleration we have TRANSFORMATION experienced over the past 15 months. For a decade, things went along gradually, pushed by technological innovations and clever business models built on top of them. And then in 2020, pushed by a pandemic, the pace gradually flipped to suddenly, as the entire economy was all at once under pressure to find ways to tap into all kinds of digital tools and remake every element of how we live, work, shop, entertain and educate ourselves to become consumers via digital channels. © 2020 PYMNTS.com All Rights Reserved A Decade of Digital Transformation in 12 Months Introduction In fact, it’s almost a perfect and probably not ever. The changes The rapid drive for digital capability In short, the economy, as a whole, is encapsulation for the recent history made under pandemic pressure will will give rise to the construction in a state of transition. While all the of digitization, but it’s lacking a word: stick around long after the last face of cross-channel capacity as leaders we spoke to agreed that from irreversibly. mask has been removed. consumers’ shopping journeys here, it is not yet possible to chart become wider and spread across the entire course of the journey, it is Because that is also the consensus But they won’t stay the same, the more channels, both digital and possible to know that what comes of the panel of nearly three dozen experts agreed; they will continue to physical. Choice – and the ability to next will look quite a bit different CEOs, C-suite executives and senior evolve for the better. offer it to consumers, in how they from what came before it. corporate leaders PYMNTS spoke shop, where they shop and how they with for its Q2 eBook on what the The Era of Deeper Digital pay – will only become more crucial Different – and hopefully quite a world will look like as recovery rolls Transformation as things like buy now, pay later bit better, as the emerging digital on and the next iteration of normal If the past 15 months have been (BNPL) platforms, marketplaces and economy is so far shaping up to be rolls out. about making it possible for social commerce venues continue faster, smarter, smoother, safer and merchants and consumers to to rise in prominence in the post- more accessible to more merchants The changes we have seen came on connect to the digital ecosystem, pandemic economy. and consumers than anything we’ve slowly, gradually, then suddenly – what’s next will be about making seen before. and have now become completely those connections smoother and The pace of payments will be faster, irreversible. accessible across all channels. as real-time offerings are becoming Optimizing an emerging omnichannel more common across various The next normal, the executives economy will mean building it to be stretches of the economy amid rising agreed, will be shaped by the lasting, more seamless, more secure, more demand as the word gets out. deep-impact trends of the pandemic accessible and more navigable — in era that aren’t going away – not now short, evolving it to its next level. © 2021 PYMNTS.com All Rights Reserved 6 © 2020 PYMNTS.com All Rights Reserved ACI Worldwide HOW THE PANDEMIC RESTRUCTURED THE U.S. REAL-TIME PAYMENTS CONVERSATION or years, the industry has in payments for everything from buzzed about the potential corporate liquidity to individual for real-time payments financial assistance — along with in the U.S., but the hype limits of physical contact — became Fhas been met with relatively slow even more critical. While we saw execution. Then the pandemic hit, real-time innovations advance and ODILON and consumers and businesses transactions grow in 2020, we also ALMEIDA alike found themselves facing recognize that the potential of this President and CEO a myriad of challenges no one technology remains untapped. In could have predicted. Expediency short, it took a global pandemic to © 2021 PYMNTS.com All Rights Reserved 8 © 2021 PYMNTS.com All Rights Reserved 9 Odilon Almeida show us that when it comes to real- time will be poised to help shape and other financial institutions to time payments, we are not where we the future of payments. Not only will better meet the post-pandemic need to be. corporates welcome the innovation merchant’s and biller’s wide range of driven by real-time, but they’ll also needs.
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