As I reflect on my four years at EPCOR, I recognize that many changes have occurred because of the pandemic. Today, most financial institutions have returned to their new ‘normal’ that includes various work environments from full-time in the office to flexible work-from-home options. At EPCOR we continue to move forward in our ‘new office environment’ with full-time in-office staff, hybrid work-from-home staff and full-time remote staff. No matter where staff members are located, we continue to be your trusted partner to provide payments education, resources, tools, support and services to help all members maintain payment system compliance, improve operational processes and mitigate risk and fraud. At EPCOR we also foster and promote improvements and developments in the U.S. payment systems by actively representing our members on industry boards, committees and workgroups.
EPCOR understands that our members continue to face unique challenges as the payment system landscape evolves. We look forward to being your trusted partner as you map out your journey in 2023 and beyond and take advantage of opportunities such as faster and instant payments. In addition to the wide array of payments education we offer (Payment Systems Update and EPCOR Payments Conferences to name a few), we have many other offerings to support you:
- Audit, Advisory, and Risk Assessment Services – with the complexity of today’s payment systems, members can obtain audits, risk assessments, and consulting services from our team of experts when dealing with specific payment issues and in meeting regulatory compliance requirements.
- Did You Know Videos – short, animated videos focused on various payment topics that are typically three to four minutes long and presented in an easy-to-understand format, perfect for sharing with internal staff members and/or business clients.
- Electronic Resource License – a cost-effective way to train all staff members on payment rules and regulations for one flat fee based on the number of employees at your organization (Priced between $200 and $665). Also includes helpful tools, forms and guides.
- Flex Training – a cost-effective, customized way to educate staff on exactly the topic they need.
- EPCOR Alert Service – as fraud schemes typically travel corridors, the alert service provides information sharing between EPCOR members which enables staff to remain alert and proactive in protecting against loss.
- EPCOR Webinar + PSU Subscription – a unique subscription for an individual staff member to subscribe to EPCOR’s webinar offerings and recordings, which also includes a seat at an in-person or virtual Payment Systems Update.
As EPCOR continues to execute on our multi-year strategic plan, here are a few initiatives we are tackling to complement our members with their own strategic initiatives:
- Expanding advisory services to include assistance in launching instant/faster payments and other new payments rails.
- Continued investment in our staff and technology to offer in-person and virtual training.
- Leveraging our financial resources to implement a new Association Management Platform that offers self-service capabilities to our members.
- Increase our engagement with FinTechs and other service providers to increase your overall innovation efforts within the payments landscape.
- Continue growing our consultant services beyond traditional audits and risk assessments.
- Continue to offer best-in-class education that expands our members’ knowledge and compliance of the payments industry through innovative learning experiences.
Over the past few years, life has taught me to remain nimble and flexible and to be innovative in how EPCOR approaches new products and services for our members. I’m excited about 2023 and the expansion of Same Day ACH and instant payments as the Federal Reserve prepares to launch FedNowSM and as the industry continues to embrace The Clearing House’s RTP®.
All of us at EPCOR wish you a very happy New Year! We look forward to seeing you at an EPCOR event soon and supporting your payments needs through 2023 and beyond.