August is supposed to be a quiet month in Washington DC, but this year, it was just the prelude to what promises to be a busy autumn. In this episode, the IPA's CEO Brian Tate, and Chris Stromberg, IPA's head of government relations, talk about where things stand today and what will shape the payments ecosystem in the months to come. They talk about the philosophical approaches the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau are taking towards fintechs, the midterm elections, and ongoing lawsuits that may shape the industry. The IPA would like to thank its member sponsor Netspend for its support of this podcast. If you want to keep up with what all of this means for your compliance obligations, then join the IPA on September 29 in Chicago for our 2022 Compliance boot Camp. Learn more and register today at: 2022 Compliance Boot Camp (ipa.org). To attend the IPA's reception at Money 2020, register at: Money 20/20 2022 Event | Money 2020 RSVP Blank (stinsonnews.com)
Payments don't happen in a vacuum. Understanding the context around transactions can mitigate the risk of fraud. In this episode, the IPA presents the edited audio portion of a Webinar that we held with Deep Labs' Vice President and payments industry veteran Tia Ilori. She described how Deep Labs uses people, processes, and technologies to identify suspicious behavior that may otherwise transact undetected. We discussed how the events of the past few years have changed the patterns of people's behavior and how to keep up with the changing times. The ability to keep up with cardholder behavior can determine whether or not a company's card is at the top of the cardholder's wallet when it comes time to make a big purchase. It can also determine whether or not a portfolio will be safe from criminal looking to use chaos as an opportunity to circumvent defenses.
Directing dollars into specific spending channels can benefit consumers, program managers, and payments companies. FIS has been providing filters for government programs for some time, and it is now expanding the technology so that it can be used for other applications. The company plans to offer filtered cards that run on open networks for private businesses to use for things like incentives and budgeting. In this episode, we talk with Deirdre Ives, general manager of prepaid at FIS, about how filtering works, how it has been used, and where it might go in the future.
Good marketing seems like it would be a crucial part of any business plan, but even the best marketing plans in the world come with risks. In this episode, we present a lightly edited version of the audio from our Oct. 4 webinar, The Dangers of Good Marketing with Adwait Joshi, the founder and Chief Seer at DataSeers, an AI software provider for banks and fintechs. He discusses the risks of good marketing, including the business risks of attracting the wrong kinds of customers and the security risks of drawing the attention of fraudsters. He also talks about how to implement solutions. We want to thank our member sponsor NetSpend for supporting the show.
With the midterms approaching, Congress is not paying much attention to legislation on financial services, but the regulators' focus on the industry has not waivered. In this episode, the IPA's government relations team, Brian Tate, the association's CEO, and Chris Stromberg, the director of government relations, discuss recent actions by the regulators, including debit card transaction routing rules and the latest activity at the Consumer Financial Protection Bureau. They also cover what the midterm elections might mean for the future of financial services regulation. The IPA thanks our member sponsor, Netspend, for helping to make this show possible. This podcast was recorded on October 13, 2022. Things may have changed by the time you hear it.