On the Road & In the News

Crone Consulting LLC’s principals Richard Crone and Heidi Liebenguth frequently deliver highly-rated Keynote Addresses for leading industry conferences, investor groups and other stakeholders.  See below for a sampling of recent and upcoming events.


 

Crone Consulting LLC has published numerous articles, and regularly contributes market insights to online and traditional media. Click here for some examples of recent press.

 

 

 

Upcoming conferences featuring Crone Consulting LLC
 

Richard and Heidi will provide the Keynote address, “Mobile Payment Awakens:”


Financial institutions, traditionally the keepers of payment accounts, are now in danger of being left behind by others investing aggressively in new technology for mobile payments. Twelve years of longitudinal data tracking the changes in service interactions by channel (e.g., branch, ATM, IVR, wired web, mobile, payments, etc.) provide analytical rigor to project a new order of mobile payments and financial services.  The speakers will engage interactively with real life examples from their lab and due diligence work, and let the audience experience firsthand how mobile payments will dominate and inform all service interactions via machine learning and Affective Computing, where customers’ emotional quotient is gauged real-time through sensor, video, voice, big data and artificial intelligence.  


What will be the investment manifesto in the future given the technological and competitive challenges coming down the pike?  What is the return on investment (ROI) and business case for early entry in mobile payments?  Can financial institutions leverage consumer preferences to win customer support early and fend off powerful rivals?  Beyond the theoretical, this session will vividly illustrate the value of mobile payments as a new channel for customer engagement for financial institutions and all the stakeholders they serve, including merchants.

Mobile Payment Awakens


Presenters: Richard Crone and Heidi Liebenguth

Mobile is the dominant – sometimes only – channel members use in their financial lives. Learn how mobile payments will unleash machine-learning-driven customized credit, personalized payments and compelling new services delivered real-time, in context at members’ point of need.  Leave with the essentials to develop your own strategy. 


Takeaway Value

  • Learn how mobile payments will propel customized credit
  • Explore the threat – and opportunity – from P2P and alternative lenders
  • How to work with – and compete with – the technology giants
  • ROI and the business case for mobile payments & in-context lending 

Mobile Payment Awakens


Mobile is the dominant – sometimes only – channel customers use in their financial lives. Learn how mobile payments will unleash machine-learning-driven customized credit, personalized payments and compelling new services delivered real-time, in context at customers’ point of need.  Explore the ROI and the business case for mobile payments & in-context lending, and discover the threat – and opportunity – from P2P and alternative lenders.  Learn how to work with – and compete with – the technology giants.  Leave with the essentials to develop your own strategy. 


Moderator: Heidi Liebenguth, Managing Partner & Research Director, Crone Consulting, LLC
Panelists:
Richard Crone, CEO, Crone Consulting, LLC
Jeff Casey, Senior Vice President Project Portfolio Management, First Technology Services, Inc. 

 
Recent conferences featuring Crone Consulting LLC

PAYMENTS 2016 unites thousands of payments system stakeholders from business end-user and financial and technology services organizations to debate and explore the more pressing issues and opportunities today. We’ll be speaking and presenting the NACHA Alliance Mobile Wallet Team’s recent work, “Financial Institution and Retailer Interoperability for Mobile Wallets: the Key to Success”

Richard and Heidi present “Capitalizing on Consumer Trust, What’s Next in Mobile Payments” for the Association for Financial Technology (AFT) Spring Summit. Banks are most trusted by consumers, and supporting research shows that consumers will prefer to perform mobile payments through their bank app. But PayPal scores well, Apple Pay has 16% share globally, and Android Pay and Samsung Pay are serious contenders.  What’s the prognosis for success for these and other players?

Richard and Heidi provide the Keynote address, “Mobile Payments Awakens,” exploring the evolution and future of mobile wallets and payments for the 2016 FIS™ Network Payments Executives Council (NPEC)

The NACHA Payments Innovation Alliance 2016 kickoff member meeting will be held February 22-24, 2016 at the Hotel Nikko in San Francisco, California. We’ll be speaking and presenting a preliminary draft of the NACHA Alliance Mobile Wallet Team’s recent work, “Financial Institution and Retailer Interoperability for Mobile Wallets: the Key to Success”

Richard Crone presents “the Mobile Payments Revolution,” moderating a panel of payments all-stars from Google Payments, Xoom/PayPal, and PayNearMe for the Silicon Valley Chapter of FEI, Financial Executives International.

Is There a Safe Bet in Mobile Payments?

 

Richard Crone, CEO and founder, Crone Consulting LLC

Heidi Liebenguth, Managing Partner & Research Director, Crone Consulting LLC


Credit Unions, known for their close member relationships, are now in danger of being left behind by the big banks touting advanced mobile functionality, and new third party entrants threatening to disintermediate credit unions with mobile payments. In this fast-paced session, credit union directors will gain:

  - An understanding of the mobile payments landscape including ApplePay, Android Pay, Samsung Pay, etc. as well as credit union-branded mobile wallets

  - The threats and opportunities of mobile payment as it drives Millennials’ choice of financial institution

  - Identify potential costs and net new revenues, business case and return on investment factors when evaluating mobile wallets

  - How mobile payments will quickly impact the entire financial services relationship

  - Definitive steps that credit unions need to take to seize the opportunities with mobile payments

Finding the Bank Payoff in Mobile Payments

 

Richard Crone, CEO, Crone Consulting, LLC

Francis J. Liddy Jr., Head of Account Relationships & Strategic Partnerships, Paydiant Inc.
Paul Fiore, CEO, CU Wallet


The payments sector, especially mobile payments, offers banking organizations a much needed opportunity for revenue growth. But, it is also a crowded field that is constantly changing and experiencing disruption, especially from non-bank competitors. In this session, you’ll get an overview of the mobile payments landscape, including Apple Pay, PayPal and Samsung to name just a few disruptors, as well as insights into opportunities that exist to drive revenue and how banking organizations can transform to take advantage of them. You’ll learn:

•Mobile payments implications on the industry

•Tapping into this marketplace successfully, including working with merchants

•Lessons learned along the way - unique perspectives from industry veterans

October 8, 2015   Inn at St. John’s Conference Center, Plymouth, MI

 

Opening General Session: Navigating the Mobile Payments Crossroads

 

Richard Crone and Heidi Liebenguth - Crone Consulting, LLC

This is a pivotal period in payments. There’s so much happening with card, mobile, the cloud, big data, new players and competition from non-banks. The EMV mandate is looming and many of the largest retailers and companies in the US have organized their own mobile payments network (MCX) to reduce costs and protect their data. Add in regulatory pressures, security challenges, tokenization, Samsung Pay, PayPal and Apple Pay… There is no better time to rethink your payments innovation strategy. Learn the pitfalls and payoffs of various approaches, the rules of engagement with mobile payments, and how to map a winning way forward for all the stakeholders in the payments ecosystem.

 

NACHA Payments Innovation Alliance Meeting

September 30, 2015 Miami, FL

 

Mobile Wallets- Keeping up with a Changing Market

 

The mobile wallet space is constantly changing! Products and trends are evolving quickly, and companies that seemed committed to one strategy a year ago now have veered off onto a completely different path. Samsung is coming to the US first, Rite-Aid did a 180 to start accepting Apple Pay, MCX is still yet to launch.  What do you need to know?  This session will explore the current mobile wallet space and provide a look at the work of the newly launched Alliance Mobile Wallet team initiative including areas of focus and first deliverables. 

 

Speakers: Richard Crone, CEO & Founder; Heidi Liebenguth, Managing Partner, Crone Consulting LLC. Moderator: Kathy Levin, Senior Director, NACHA

CUNA 2nd Annual Payments Roundtable

 
Crone Consulting LLC will facilitate and lead sessions for this two-day program for CEO, CIO and other C-level credit union executives.  The Roundtable’s goal: to help credit unions develop a payments strategy as well as get the latest developments in the payments industry. 
 
    

Mobile Banking & Payments Market Update (Richard Crone, CEO and Heidi Liebenguth, Managing Partner, Crone Consulting LLC)

 

As the mobile connection grows in importance, it ultimately becomes the primary channel for financial institutions to interact with their customers.  In a world where the mobile app is the credit union, available 24/7 in the member’s hand, what new roles can credit unions play in the financial lives of their members?  Forward-thinking financial institutions are using mobile banking as a cross-channel enabler, providing customized services wherever the member is: in the branch, at the ATM, at home and out shopping.

 

Hundreds of credit unions signed on with Apple Pay to attract the mobile-savvy, transaction-rich millennials.  But what’s the end game in mobile payments?  If payment is the most frequent interaction members have with their brand, some 30-50 times a month, is delegating the payment experience to a third party, even Apple Pay, risky?

Mobile Payments Consortia

 

The Merchant Customer Exchange (MCX) for retailers, CU Wallet for credit unions, The Clearing House for banks, SoftCard for wireless carriers: these are all examples of consortiums chartered with developing their own mobile payments network.  The goals of each are both divergent and common; from reducing costs, eliminating unnecessary processing steps (and existing providers) to building new business models, revenue streams and monetizing their transaction data and mobile connections. 

This panel will provide a transparent and open forum to objectively compare the pros, cons, risks and costs of building a common platform across these collaborative endeavors.  Panelists will share the results of their own deployment efforts to date and their positions for applying the cooperative-based model not only with their primary stakeholders but also with other mobile payment consortia. 

Paul Fiore, CEO & Founder, CU Wallet

David Fortney, SVP, Product Development & Management, The Clearing House

Chris Gardner, CMO & Co-Founder, Paydiant

Andy Shober, Chief Sales & Business Development Officer, Merchant Customer Exchange (MCX)

Moderator: Richard Crone, CEO & Founder, Crone Consulting LLC

 

Navigating the Mobile Payments Crossroads

 

The merchant and banking industries face a pivotal period in payments. Cards, mobile, the cloud, big data, new entrants and competition from non-financial institutions: is their motivation to redefine the business model between retailers and financial institutions and work together? The EMV mandate looms on the horizon, and many of the largest retailers in the U.S. have organized their own mobile payments network, Merchant Customer Exchange (MCX), to reduce costs and protect their data. Add in regulatory pressures and security challenges and there is no better time to rethink your payments innovation strategy. Hear from retailer and banking leaders who share the pitfalls and payoffs of various approaches, the rules of engagement with mobile payments, and perspectives on how to map a winning way forward.

Marty Boyer, Director of Marketing, Tom & Chee Restaurant

Ben Morales, Chief Technology & Operations Officer, Washington State Employees Credit Union

James Ward, VP, Credit, Belk Department Stores

Moderator: Heidi Liebenguth, Managing Partner, Crone Consulting LLC

 

Navigating the Mobile Payments Crossroads

 

The merchant and banking industries face a pivotal period in payments.  Cards, mobile, the cloud, big data, new entrants and competition from nonbanks: is there a motivation to redefine the business model between retailers and financial institutions and work together?  The EMV mandate looms on the horizon. And many of the largest retailers in the US have organized their own mobile payments network, Merchant Customer Exchange (MCX), to reduce costs and protect their data.  Add in regulatory pressures and credit card security challenges – there is no better time to rethink your payments innovation strategy. 

Join payments guru Richard Crone and this panel of retailer and banking practitioners who will share the pitfalls and payoffs of various approaches, the rules of engagement with mobile payments, and how to map a winning way forward.

 

Finding the Bank Payoff in Apple Pay
Richard Crone, CEO, Crone Consulting
Heidi Liebenguth, Managing Partner and Research Director, Crone Consulting

Since September 9, 2014, when Apple announced Apple Pay, banks and other members of the payments ecosystem have been analyzing the implications for revenue, delivery technology and transaction security. Apple Pay earned high marks from many observers for consumer appeal and improved security, while merchant reaction remained a question mark.

  • How should banks react to Apple Pay, and is the answer the same for big banks and small?
  • Is it merchants that ultimately will determine the success of Apple Pay, and if so, what are its prospects?
  • Tokens, Touch ID and EMV: What security issues should bank payments strategists consider?

 

EFTA Board of Directors Meeting at ATMIA

Interoperability Across Mobile Payment Alternatives – Merchant Financial Institution Coalition, potential opportunity for EFTA

Afternoon session presented by Richard K. Crone and Heidi Liebenguth

Apple Pay, MCX & Beyond: Your Mobile Pay Strategy

Hyatt Regency DFW

Thursday, January 15th

Is There a Safe Bet in Mobile Payments?

Richard Crone, CEO and Heidi Liebenguth, Managing Partner, Crone Consulting LLC

 

Credit Unions, known for their close member relationships, are now in danger of being left behind by the big banks touting advanced mobile functionality, and new third party entrants threatening to disintermediate credit unions with mobile payments.  What is the return on investment and business case for early entry into the mobile payments arena?  Will there be “one wallet to rule them all?”  Can credit unions leverage their collaborative culture and CUSO frameworks to win the support of retailers and fend off these powerful rivals, and to do for themselves what the Merchant Customer Exchange (MCX) is doing for retailers?  Learn about the ROI and business drivers used to justify your early investment in mobile payments.

Realizing the Mutual Customer: An Alliance between Banks and Merchants for Mobile Payments

 

Moderator: Doug Brown SVP, GM FIS Mobile, FIS

Panelists: Richard Crone CEO, CRONE CONSULTING

Tom Ormseth SVP, Retail Strategy, WINTRUST FINANCIAL

Marty Boyer Marketing, TOM & CHEE

When evaluating partnerships, payment platforms and third party programs, maintaining control of brand, data, and customer experience are top of mind.

Learn how these innovators are paving the way for payments through an ecosystem that offers interoperability between banks and merchants from their own branded mobile apps. Understand how this relationship can generate real top-line revenue through targeted offers, loyalty, customer acquisition and retention.

Join Richard Crone and Heidi Liebenguth at the American Bankers Association Marketing and Retail Conference, where we do the math to show Actionable Offers/Coupons + Mobile Payment = ROI

NRFtech 2014: Navigating the Retail Payments Crossroads

General Session

 

The retail industry faces a pivotal period in considering the payments landscape. Along with industry giants like ISIS, PayPal and Google, there are more than 200 solutions provider hopefuls, both large and small, each hyping the latest and greatest in payments technologies and platforms. The EMV mandate looms on the horizon. And many of the largest retailers in the US are organizing their own payments network, Merchant Customer Exchange (MCX), in an attempt to break the payment duopoly that has existed for the past 30 years. Add in regulatory pressures and credit card security challenges – there is no better time for retailers to rethink their payments innovation strategy. Join Richard Crone and this panel of retailer practitioners who will share their insights and experiences of various approaches in mapping an effective way forward and beyond the crossroads the industry presently faces.

The Mobile Transformation of Financial Services 

For the best-in-class, mobile banking is growing up to five times (5x) faster than wired, desktop Internet banking. Given this growth, the mobile User Interface (UI) will soon become be the dominant channel for interacting with customers, commanding more use case Service Interactions (SIs) than all other channels combined in less than three years for many financial institutions. As each day another major financial institution announces the closing or reconfiguring of physical branches, the tectonic shift created by mobile will command far more than mere channel rationalization.

With mobile cited as one of the top reasons for switching financial institutions, especially by millennials, winning and retaining customer loyalty for your mobile UI will be dependent on ever expanding the functional improvements enabled in your mobile app. This session will provide the return on investment (ROI) framework for these enhancements, especially mobile payments, cardless Mobile Cash Access (MCA), mobile picture bill payments, etc. and how they will transform financial services in the future.

Workshop Leaders:

Richard Crone, CEO, Crone Consulting, LLC
Heidi Liebenguth, Managing Partner, Crone Consulting LLC

IOFM's Payments Summit June 2 – 4, 2014 Baltimore, MD

 

Treasury’s New Role for Omni-Channel Support:  Monetizing Big Data with Mobile Payments


Learn how Treasury is using mobile payments to transform payments from a cost of doing business to a new line of business by monetizing the “big data” feeds from transaction processing. In this candid interactive discussion, you will learn how the Treasury and Finance functions lead the strategy effort and eventual deployment of mobile payments.

Find out how to capture the upside revenue streams derived from the opt-in transaction data generated before, during and after each sale transaction. We will be share and critique real examples of the Return on Investment and Business Drivers used to establish the new mobile payment profit center governed by Treasury and/or Finance.

Presented by: Richard K. Crone, Crone Consulting, LLC

Richard Crone and Heidi Liebenguth talk about the Five Mobile Trigger Points and the role of Mobile Payments for restaurants at the National Restaurant Association’s 2014 Show in Chicago.

 

The In-Store Experience

 

How does new technology drive sales at restaurants and retail operations? Explore touch screens, reservation and waiting systems, tableside ordering and payment systems, table menus and digital signage, augmented reality apps and more. Learn what kind of consumers want to interact with these "toys."  Richard Crone moderates a panel of experts including Chris Lapin, SVP, Business Transformation & CIO, Red Robin Gourmet Burgers, Inc.; Don Long, Sr. Dir Information Services & Technology, White Castle Management Co.; and Jeff Weiss, Director of Store Systems, Dave & Buster’s, Inc.

 

When Marketing Met Technology

 

Marketing is becoming a technology-powered discipline, from the front-facing technologies we use to engage with prospects and customers to the back-office technologies we use for a new generation of marketing operations. Take advantage of this tremendous potential and increased reach, with an overview that teaches you how to integrate technology into your core marketing functions.  Heidi Liebenguth moderates a panel of experts including Marty Boyer, Director of Marketing, Tom+Chee; Doug Reifschneider, Vice President of Marketing, Firehouse of America, LLC; and Karley Hofer, Director of Brand Development, Orange Leaf Frozen Yogurt.

The resurgence of PIN debit*

*No PIN required!

 

Proprietary PIN debit networks such as NYCE, STAR, Pulse, Accel, etc. are now promoting a new class of PIN-less debit:  transactions less than $50 that can be routed through their networks with only a card swipe at the physical point of sale; no PIN required.  The move could siphon away substantial transaction volumes now riding the signature debit rails of Visa and MasterCard.  Considered an unintended consequence of post Durbin government regulation, dropping the requirement to enter encrypted Personal Identification Numbers (PINs) at the physical point of sale could increase transaction risk and fraud. 

 

Spurred by the promise of least cost routing and reducing their dependency on the more expensive debit clearing options of Visa and MasterCard, merchants are signing up in droves.  In this session you will hear firsthand from each of the major stakeholders in the PIN-less debit debate.

 

Moderators:  Richard Crone, CEO and Heidi Liebenguth, Managing Partner, Crone Consulting LLC

ATMIA US Conference 2014: Reinventing the ATM

February 11-13, 2014, Orlando Florida

 

Workshop: Mobile Payments & Cardless Mobile Cash Access (MCA) for ATMs

Cardless Mobile Cash Access (MCA), where banks and other account issuers enable customers to access the ATM using only their mobile banking app on their smartphone, opens up dramatic new opportunities for cost savings and new revenues. 

 

When the mobile banking app is the access token, banks eliminate the costs of issuing plastic cards and their card association royalties and fees.   The risk of thieves installing mag stripe skimming or PIN-logging devices is removed.  Because the primary interface is now the customer’s mobile banking app on their smartphone, banks could delay or potentially avoid costly upgrades to ATMs for NFC and EMV readers.  Customer data is far more secure, stored in the cloud rather than on their phone or a card. 

 

This new access token gives banks flexibility and opportunity to offer new, highly targeted products, turning the ATM into a new profit center.   Via the mobile banking app, customers could now withdraw cash from all types of accounts, opening up new fee-producing utility for lines of credit, loans, and more.  MCA holds the potential to enable not only cash withdrawals but other advanced functionality and expand new product development opportunities, all within the familiar, bank-branded and controlled app. 

 

Learn how banks, processors, ISOs and hardware deployers are using MCA not just for cash withdrawal but as a pathway to cloud-based mobile payments.  


 Moderators:
- Richard Crone, CEO, Crone Consulting, LLC
- Heidi Liebenguth, Managing Partner, Crone Consulting LLC

Panelists:
- Devon Watson, VP, New Business & Solution Incubation, Diebold
- Douglas Hartung, Emerging Products, Mobile, PULSE
- Douglas Asad, Sr. Product Manager Mobile Commerce, FIS Mobile
- Elan Mevasse, Product Manager, City National Bank

Citi Investment Research & Analysis ("CIRA")

Conference Call Friday, February 7, 3pm EST

 

Greg Badishkanian Hosts: Mobile's Impact on the Restaurant Industry

 

One study indicated that 69% of consumers have ordered food via mobile web and apps while 20% do so regularly and 51% paying for the order via their mobile device.  What does this mean for investors in the restaurant industry? 

This session will outline the mobile factors that will impact the valuation of a restaurant franchise.  Special emphasis will be given to how mobile payment can be used to implement a true Customer Relationship Management (CRM) business model and contrasting the winning and losing strategies of early entrants such as Starbucks Corporation, Dunkin Brands, Inc. (Dunkin Donuts®), Jamba, Inc. (Jamba Juice®) and SUBWAY® Restaurants, etc. 

You will leave the session understanding why “The one who enrolls is the one who controls” will be one of the deciding factors in the success of a restaurant franchise in the future.

 

Subject Matter Experts:

•       Richard Crone, CEO, Crone Consulting LLC

•       Heidi Liebenguth, Managing Partner, Crone Consulting LLC

Actionable Offers/Coupons + Mobile Payment = ROI


Stewart Holmes, Head of Mobile Commerce Product and Strategy, Barclaycard US
Thomas P. Ormseth, Senior Vice President NonCredit & Digital Services, Wintrust Financial Corporation
Corey Kline, IT Director, Noodles & Company
Richard Crone, Principal, Crone Consulting


Nearly 80% of consumers responding to a recent survey report regular use of coupons while shopping at grocery, supercenter drug or dollar stores. Another study confirms that 54% of smartphone owners are active coupon/deal users and more than 40% want tailored ads and actionable offers delivered to their phone. Yet today Consumer Packaged Goods (CPGs) marketers continue to allocate the greatest share of coupons distributed to paper-based Free Standing Inserts (FSIs). But this is about to change as the stage has been set for mobile-based couponing and actionable offers to grow exponentially when integrated with mobile payments. In this session you will learn how providing actionable offers and coupon clipping linked to your own loyalty and mobile payment accounts eliminates the waste and uncertainty of FSIs while generating big data feeds for CRM & marketing previously not available to issuers banks retailers brands and CPGs.

  • This session will address the upside opportunities to all stakeholders from actionable offers/coupons integrated with mobile payment accounts.
  • ROI of incorporating actionable offers integrated with payment accounts.

Understanding of the competitive threats and opportunities to financial institutions.

The Renaissance Treasurer: Defining your Enterprise-Wide Mobile Payment Strategy

 

Richard Crone and Heidi Liebenguth will address the Association for Financial Professionals (AFP) Treasury Advisory Group meeting on Tuesday, September 17, 2013 at the Hotel Monaco in Baltimore, MD