Scenes from CSCU's 2013 Solutions Conference
The event focused on card program strategic planning, EMV, the future of mobile payments, and the evolving marketplace.
Bob Hackney, president of Card Services for CUs Inc. (CSCU) welcomes attendees to CSCU’s 2013 Solutions Conference in St. Petersburg, Fla., April 25 to 27.
About three hundred attendees heard from industry experts on payment system trends, and priorities and strategies to help issuers manage and grow their card business.
From left: Visa’s Kim Lawrence; FIS’s Bastian Knoppers; CPI’s Docia Myer; Canadian banker Stephen Fedor; and Northcard’s Mike Bradley, who moderated the panel.
Canadian institutions have already made the switch to EMV, so Fedor was able to assure the audience that “chip is good.” “It’s good because mag stripe technology is bad—it’s from the 1960s,” he said. “You can’t clone a chip.” In fact, Fedor likened it to the intro of the old television show Mission Impossible—“if you mess with a chip, it implodes.”
Fedor’s bank—CIBC—was the first Canadian bank to adopt EMV. By being first, he said his bank learned a lot, and others learned from it. “While you can learn a lot from the institutions that go first, if you’re the last credit union that converts, you’ll experience a lot of fraud and run the risk of being displaced.” Fedor’s advice: “Be somewhere in the middle.”