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Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
Cache wib presentation 6.11.2013
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Cache wib presentation 6.11.2013

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  • How many business owners do we have in the room? How many manage financial side of a business? One of the growing concerns for consumers and business owners is fraud.
  • How many business owners do we have in the room? How many manage financial side of a business? One of the growing concerns for consumers and business owners is fraud.
  • At Zions Bank in TM one core area of focus is Risk Management. This includes: check fraud, forgery, embezzlement, cyber securtiy
  • Transcript

    • 1. PROTECTING ANDPROVIDING FOR YOURBUSINESS AND FINANCESCache Valley Chamber of CommerceWomen In Business PresentationJune 11, 2013
    • 2. THE WORLD HASCHANGEDBreakdown for Graduating Class of 2010 Associate’s Degrees: 167 women for every 100 men Bachelor’s Degrees: 142 women for every 100 men Master’s Degrees: 159 women for every 100 men Professional Degrees: 104 women for every 100 men Doctoral Degrees: 107 women for every 100 men*In 1960, women accounted for 6% of all MD’s – In 2008 – 49%Source: Dept. of Education
    • 3. WOMEN AND WEALTHWomen business owners employ 35% more people than all the Fortune500 companies combined. Women control 60% of the wealth in theUnited States, and make or participate in 80% of financial planningdecisions.37% of High Net Worth investors are female7 out of every 10 married women will be widowed80% of American women will be solely responsible for theirhousehold’s financial decisions at some point in their livesSource: Cannon Financial Institute
    • 4. AND YET… Men are 1.7 times more likely to be approached by a financial advisor than women. Within a year of her husband’s death, 70% of women change financial advisors. Within 24 months, 93% have moved their money.In a recent survey conducted by Boston Consulting Group, out of 15 industriesidentified, including cell phone providers, sporting equipment, physicians, various retailconcerns, the bottom of the pile were:12 – Life Insurance Providers13 – Banks14 – Car Dealerships15 – InvestmentsWomen are not being well-served by our industry.Women are extremely unhappy with financial services
    • 5. SO WHAT DO WOMENWANT?Women are challenged by: TimeToday’s female client is likely to be pulled in many directions. For many, a full time career iscombined with being a caretaker of growing children, or aging parents (including in-laws) orboth. Their lives are a complex web of relationships, roles, and responsibilities. Financial Insecurities90% of women admitted to feeling financially insecure. Including women earning $100,000 ormore annually.1/3 of women between the ages of 40 – 69 reported they were unable to estimate their ownretirement needs.1/3 miscalculated their retirement needs, both overestimating their projected savings andunderestimating their retirement income needs. Dismissive or Condescending AdvisorsWomen frequently cite being subjected to financial jargon, overwhelmed by unclear alternatives,and railroaded into quick solutions.
    • 6. Ann Reece/Natalie DollingerCommercial Relationship ManagerOffice Phone: 801.991.2810Business Cell: 801.300.1921Email: ann.reece@zionsbank.comnatalie.dollinger@zionsbank.comCONTACT INFORMATIONToday’s Women Want:1. An advisor who will take time tounderstand her priorities2. Financial solutions tailored to meet herspecific needs3. Clear Communication4. Education about the financialconditions, situations, decisions andoptions that affect her family and herbusiness5. Time to think
    • 7. SBA LOANSMission Statement(http://www.sba.gov/content/mission-statement)“The U.S. Small Business Administration (SBA) was created in 1953 as anindependent agency of the federal government to aid, counsel, assist andprotect the interests of small business concerns, to preserve free competitiveenterprise and to maintain and strengthen the overall economy of our nation.We recognize that small business is critical to our economic recovery andstrength, to building Americas future, and to helping the United Statescompete in todays global marketplace. Although SBA has grown and evolvedin the years since it was established in 1953, the bottom line mission remainsthe same.”
    • 8. ZIONS BANKAND SBA Zions Bank is the #1 SBA lender in Utah & Idaho. Why? Because we value and support small business in our communities. Youare the engine of our economy and we want you to succeed. We participate with SBA to expand our line of products we offer to small andlarge businesses Companies work directly with the financial institution to request and beapproved for a loan or line of credit. The bank then receives a guarantee fromthe U.S. Government (SBA) of up to 90%, depending on the program.
    • 9. SBA PROGRAMS 7 (a) – the “regular” SBA program• Term loan, fully amortizing• Use for equipment, working capital, real estate, basically any business purpose.• Maximum loan amount $5MM 7(a) – the Express Program• Term loan or Line of Credit• Maximum Line of $1MM• Used for working capital needs or equipment purchases. Zions Bank is an active lender of SBA 504 loans Purpose is to construct, purchase or renovate real estate and fixed assets
    • 10. Jacqueline CroshawService ManagerUtah State UniversityFinancial CenterPh: 435.755.2706Jacqueline.Croshaw@zionsbank.comNEW OFFICERSIN CACHE VALLEYJuana SalazarManagerProvidenceFinancial CenterPh: 435.752.4427Juana.Salazar@zionsbank.com
    • 11. CONTACT INFORMATIONRaylynn SleightSBA Resource Officer – Northern Utah RegionOffice phone: 801.476.7621Business Cell: 801.648.6866Raylynn.Sleight@zionsbank.com
    • 12. PAYMENT FRAUDANDRISK MANAGEMENT
    • 13. TYPES OF FRAUDEmbezzlementCheck FraudForgeryIdentity TheftMalware/SpywarePhishing/Email HackingCard skimming• Card readers• Employee skimming
    • 14. WHERE IS PAYMENT FRAUDOCCURRING?334%Wire Transfers454%ACH Credits11815%Corporate/commercial purchasingcards21823%Consumer credit/debit cards22325%ACH Debits8993%93%ChecksReveundeBillRevenuesover $1BillionAllRespondentsPayment ChannelPrevalence of Attempted Fraud in 2010334%Wire Transfers454%ACH Credits11815%Corporate/commercial purchasingcards21823%Consumer credit/debit cards22325%ACH Debits8993%93%ChecksReveundeBillRevenuesover $1BillionAllRespondentsPayment ChannelPrevalence of Attempted Fraud in 2010AFP Payments Fraud and Control Survey
    • 15. CHECK FRAUD STATISTICS More than 75% of business-to-business transactions are made by check. (Association of FinancialProfessionals statistic) 72% of organizations experienced attempted or actual payments fraud. (AFP Check Fraud Survey) $18,400 was the average loss of organizations that experienced payments fraud in 2010.(2011 AFP Payments Fraud and Control Survey) More than 500 million checks are forged annually in the U.S., with losses totaling morethan $10 billion. (Ernst & Young) Check fraud ranks second, behind embezzlement, on the list of crimes that most hurtAmericas top 1,000 companies. (American Payroll Associations ) 2% imprisonment rate for check fraud. (Department of Justice)Verizon; U.S. Secret Service
    • 16. OTHER FRAUD STATISTICS In 2010, 63% of Hacker attacks were on business with 100 or fewer employees.(Verizon; U.S. Secret Service) 285 million records were breached in 2009 (Verizon Business 2009 Data Breach Investigations Report) 12.6 million adults were victims of identity theft in 2012 (2013 Javelin Strategy & Research) In 2012, the overall amount of money stolen was $20.9 billion (2013 Javelin Strategy &Research Out-of-pocket cost due to identity fraud (2013 Javelin Strategy & Research
    • 17. Internal Controls• Dual Signature/Authorization• Segregation for duties• Secure storage of checks• Reconcile dailyCyber Security/Malware/Spyware• Antivirus software programs• Zions Bank offers Trusteer Raport as a free download to customers• Strong “random” Passwords• Dedicate single computer for online bankingRISK MANAGEMENT
    • 18.  Zions Bank Resources• Positive Pay (Check and ACH)Gives a business control of what is clearing accounts daily through achecks issued file.https://nevadasmallbusiness.com/fight-fraud-with-frank-abagnale/• ACH Blocks and FiltersProtect against unauthorized ACH transactions posting toaccounts• Trusteer RapportProtects customer’s banking session from malware on their computer.Alerts the bank to customer security events.• Sweep and Zero Balance AccountsAllow for cash concentrations.• Multifactor Authentication - TokenRISK MANAGEMENT
    • 19. Crystal RoedelSales Manager, Treasury ManagementOffice Phone: 801.844.7115Crystal.Roedel@zionsbank.comSteve StaceyTreasury Relationship ManagerOffice Phone: 435.881.6638Steve.Stacey@zionsbank.com
    • 20. QUESTIONS?

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