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April 2, 2003, Independence, KS – U.S. financial institutions have been effectively “enlisted” in the war on terrorism to counter-strike attempts of terrorist financing. Terrorism, and growing incidents of other financial crimes, compound the need for diligent security and risk management as electronic payment volumes take off. U.S. Treasury regulations and legislation under the USA Patriot Act [1] require key financial sector industries to implement programs designed to prevent the services they offer from being used to facilitate money laundering or the financing of terrorism. At the same time, electronic payment transactions processed via the Automated Clearing House Network (ACH) are expected to double by 2006, according to a report by the National Automated Clearing House’s (NACHA).[2] “Financial institutions are struggling to balance new risks and opportunities,” says Debra L. Malmos AAP, President & CEO of iFULL Enterprises, Inc. “Compliance with new legislation that demands restriction of services to prohibited parties,[3] has become a daunting task, considering that Identity Theft continues to be the number one growing crime in America,” said Malmos. Clifford M. Lindsey, a former VP of Dataquest, Inc., a San Jose-based unit of Gartner, Inc., stated in 2001, "Malmos stands among the top five experts in the electronic payments industry worldwide." Lindsey pioneered a highly-successful Strategic Executive Service for high tech CEOs, as one of his many accomplishments for Dataquest, Inc., a major market research firm in the IT industry and, historically, considered the most visible in the world. Malmos has served as an ACH advisory consultant for e-payment startups from Silicon Valley coast-to-coast and iFULL's numerous clients have included Hitachi-Japan, for which Ms. Malmos played a key consulting role in the consideration by the Japanese government of an automated tax collection system. Twice published in Moscow Business & Banking News, Ms. Malmos also served for two years as journalist for the Herald Business Journal, a Seattle, WA area business journal. Malmos announced that her company plans to expand focus on electronic payment consulting services to address the current climate of terrorism and abuse of the banking system. “Expanding regulatory requirements, which address the threat of terrorist financing, identity fraud and other fast-growing financial industry related crimes, clearly warrant a shift in focus to e-payment risk management and operations consulting,” said Malmos. Over the past 6 years, iFULL Enterprises, Inc. has offered electronic payment training and consulting services, primarily focused on e-commerce applications via the Internet channel. In addition to providing Internet marketing and web development services, iFULL provides ACH training services to bankers throughout the West Coast and Hawaii on behalf of Western Payments Alliance (WesPay) and Pacific Payments Alliance (PacPay), ACH association alliance partners serving six western U.S. states, as well as American Samoa, Guam, and the Northern Mariana Islands. Malmos has spent more than 2,700 hours presenting training to thousands of bankers nationwide over the past 16 years on topics related to Automated Clearing House (ACH) Network risk management, compliance and operations, and has written many nationally distributed ACH reference publications. Malmos served for eleven years as Director of Education and Training for Mid-America Payment Exchange (MPX) in Kansas City, MO, the nation’s largest regional ACH association, prior to founding iFULL in 1997. Malmos soon relocated to the Seattle, WA area, to take advantage of closer proximity to expanding Internet technologies, where iFULL was headquartered for four years. In 2002 iFULL headquarters were moved to Independence, KS, to take advantage of the benefits of logistics and the economies of operation offered by a midwestern location. Debra Malmos earned her initial ACH accreditation in 1993 and was awarded permanent Accredited ACH Professional (AAP) status in 1998, upon scoring in the top percentiles of the National Automated Clearing House’s accreditation testing. [1] USA PATRIOT Act as Passed by Congress - HR 3162 (Oct. 25, 2001) - Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act ### Masterminding
Strategies When Napoleon Hill, author of Law of Success and Think and Grow Rich, interviewed the 500 most successful people in the world, he discovered that one of the keys to their success was having a 'Mastermind' partner. Hill defined a mastermind as an alliance of two or more people, working together in a spirit of perfect harmony to accomplish a definite purpose. Strategic alliances represent a key to unlocking the 'mastermind principle' and creating profound success for your online enterprise. The nature of the typical client/vendor relationship does not create a common objective under which both parties can work together in a "spirit of perfect harmony." Most companies hire a vendor to develop their website, provide paid-for promotion services at the lowest possible cost. The vendor is motivated to provide their services as economically as possible so they can move on to the next development project. However, successful online marketing is not a one-time job. It's an ongoing process. Updates to content are a necessity and standard promotion techniques that work for one product or service, may not work for another. Ongoing evaluation and shifts in marketing strategies can be a necessity to reach your projected audience or to adjust your marketing focus as new, and often unexpected, markets present themselves. These aspects of Internet marketing make forging a strategic alliance for your web site development a natural winner. Opportunities for strategic alliances are also available through other trade relationships. Alliances in the form of affiliate marketing and referral marketing can have a tremendous impact on your online success... look no further than Amazon.com. Even the search engines bear this out as rank criteria is significantly based on the number of links to your site. According to Brian Tracy, one of the top success experts in the world, the old sales paradigm was based on 10% relationship building, 20% product knowledge, and 70% closing. The new paradigm has flipped to 70% relationship building, 20% product knowledge and 10% closing. This new model certainly holds true with Internet marketing and creating win-win alliances. How can you negotiate collaborative alliances to create win-win Internet marketing strategies? Consider offering equity in your business or paying a commission on actual website sales to create a vested relationship with your developer. Look for affiliated non-competitive products and services with which you can trade referrals and share in the benefits. Strategic alliances can serve to reduce the risks related to non-performance and can go far in expanding your revenue earning (and sharing) opportunities. It is apparent that the Mastermind Principle and the new sales paradigm are applicable to successful Internet marketing. [Published in the Everett (WA) Herald Business Journal] Debra L. Malmos AAP is President & CEO of iFULL Enterprises, Inc., an Internet service provider and web site development business. Debra has been involved in web site development and Internet marketing since 1995. She launched iFULL Enterprises, Inc. in 1997. Debra is an accredited payment industry expert with over 20 years of experience in the financial industry. Ms. Malmos served for 11 years as Director of Education and Training for Mid-America Payment Exchange, one of the largest regional banking associations in the nation. Debra has spent 16 years as a professional trainer with over 2,700 hours of public speaking experience. In addition, Ms. Malmos is a published author of nationally distributed payment industry publications and articles and has experience as a producer and scriptwriter for industrial videos. The scope of her background includes marketing, data processing services and financial operations with emphasis in accounting, audit and cash management. |
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