Richard Crone

Richard Crone

CEO

Crone Consulting LLC

Richard Crone is CEO of Crone Consulting, LLC, specializing in re-deploying heritage payment assets to support the launch of innovative use cases and new markets for legacy financial institutions, retailers and their infrastructure providers. He has been directly involved in nearly every major transformative move in payments as a vendor, fintech strategist, board member, consultant and investor. He has direct, deep and recent experience with all the major stakeholders supporting the Federal Reserve Bank’s FedNow, The Clearing House's Realtime Payments and other global instant payment schemes. His unique working knowledge has enabled repositioned use cases for instant payments using over-the-top, alternative clearing and settlement structures for Pay-By-Bank decoupled debit, electronic bill/invoice presentment & payment, A2A, P2P and the like. With over 20 years of proprietary longitudinal data through his firm’s Service Interaction Analysis™, Richard helps clients interpret trends across channels, products and customer touchpoints to drive innovation and strategic planning. He is a trusted advisor for partnerships, fintech integrations and M&A, frequently called upon by venture and private equity firms for due diligence on high-profile deals in payments and fintech. More at www.linkedin.com/in/richardcrone.

Featured Sessions

Wednesday, March 5, 2025
2:00 pm
Powering the Instant Payments Revolution: The Demand for Speed, 24/7 Accessibility and Optimized Cash Flow Management

The session will explore and probe the growing desire by consumers and businesses to have access to send/receive instant payments capabilities—affording them more convenience, greater control over cash flow, and faster access to funds—the monetization opportunities for the range of instant payment providers, the risks around fraud, and the compliance and technical hurdles that have to be overcome.

Among the things to be discussed:

  • Payment always follows something, what are the ‘killer-apps’ that will accelerate usage for instant payments among consumers, recurring billers, retailers and other stakeholders?
  • How do FedNow, RTP and other instant payment schemes change the business model  for expedited direct bill payments, Pay-By-Bank decoupled debit, Account-to-Account transfers (A2A), Business-to-Business invoices (B2B), Peer-to-Peer (P2P), same-day payroll and new greenfield applications?
  • Why send/receive capabilities for instant payments are important for banks, retailers, recurring billers, fintechs and disrupting new entrants in the value chain?
  • What will jumpstart the slow adoption of Request for Payment (RfP) and why?
  • How to mitigate the heightened risk of fraud with instant payments.
  • How FedNow, RTP and other novel instant payment approaches are creating opportunities for retailers, subscription and recurring billers to bypass card networks, reduce interchange fees and reshape payment ecosystems with Pay-By-Bank and Electronic Invoice Presentment & Payment (EIPP).
  • What role recurring billers and retailers’ advocacy will play in driving consumer and business adoption of instant payments at the edge of the network, particularly for Gen Z, Millennials, small businesses and disrupting fintechs prioritizing real-time cash flow solutions.

3:35 pm
SMB Payments
Reimagining Commerce for SMBs: Harnessing GenAI for Seamless Banking Experiences

As small and medium-sized businesses (SMBs) navigate an increasingly complex marketplace, leveraging the power of generative artificial intelligence (GenAI) offers transformative opportunities. This session will explore how banks can utilize their Banking Operating System (BOS) to empower SMBs across all verticals, creating seamless banking experiences that drive growth and efficiency. Hear the latest innovative applications of GenAI, share success stories, and outline strategies for banks to enhance their SMB offerings, ultimately reimagining commerce in a digital-first world.

Among the things you’ll learn:

  • Understanding GenAI’s role: Learn how Generative AI can revolutionize commerce for SMBs by providing personalized solutions and insights.
  • Empowering SMBs: Discover how banks can leverage their BOS to deliver tailored services that meet the unique needs of small businesses.
  • Creating seamless experiences: Explore strategies for integrating GenAI to streamline banking processes and enhance customer satisfaction.