8 May 2025 James Watts of Mitek on Check Fraud, Payments Fraud, Dispute Resolution, and the Juicy Lucy
episode
Off the Rails from the U.S. Faster Payments Council - FPC
30 min
2 speakers
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What topics are introduced in the episode opening and headlines?
the rails from the US Faster Payments Council.
I'm Reid Lutanen, Executive Director of the U.S. Faster Payments Council, and this is Off the Rails from the U.S. Faster Payments Council. Today's episode is with James Watts, Director of Product Management at MyTech. James and I will dig in on payments fraud, talk about how faster payments stop check fraud, and the virtues of a few regional delicacies. But first, the headlines. We are now somehow two weeks removed from FPC's spring member meeting in San Diego. It's really an amazing couple of days with impactful sessions on the things thought leaders are working on, networking and amazing weather, of course. A huge thank you to all of our event sponsors, ACI Worldwide, Alloya Corporate Federal Credit Union, BNY, Endava, ePay Resources, Finsley, Form 3, Shazam, MasterCard, SRM, North American Banking Company, Trustly, and The Clearinghouse.
And if you're interested in sponsoring future member meetings, please reach out to us at info at fasterpaymentscouncil.org. During the meeting, I was honored to present Michael Bilski with an award and also to let everybody know that we have named an award for payments innovation after Mike. He's been a tremendous asset to the FPC and to the payments industry in general, and it's just my absolute honor to recognize him in this way. I'm excited about what that program will look like going forward, and we'll have a lot more information for you as that takes more shape. And a quick note on our previous episode, I mentioned dates and a location for the FPC fall member meeting. That was a bit premature.
So while you can still save that date for now, expect that it might change. And we will announce that here. We'll announce it in a newsletter on the website and on social media. So you'll know for sure well in advance when and where that meeting will be. Last week we had a great week in New Orleans. Thank you to everyone who stopped by the booth to talk to Christine and me. I met a ton of awesome new people and hopefully some of you are listening. We had a great time co-hosting an evening event on Rosie's Rooftop along with Finsley who sponsored that event and co-hosted with us. Thank you to everyone who came down to hang out on that beautiful evening. And of course, I have to follow up on the Payments Beer Nerds event that Peter and I discussed on our last episode at Bourbon Street Drinkery.
That was such a fun time. All sorts of payment folks taking over the bar. We look forward to hosting more events like that in the future as well. Check out paymentsbeernerds.com. And if you're interested in sponsoring an evening event with FPC, just reach out to us at info at fasterpaymentscouncil.org. Also at the conference, I had the pleasure of participating in three sessions. A big thank you to Larry Fatima from Wells Fargo, Bhushan Rangachari from Finsley, Sarah Arnio from Walmart, Mike Thomas from US Bank, Annie Schmidt from CGI, and Mike Cook from SoCure for including me in your various sessions. All right, I think that's enough for the headlines. It's time for me to chat with James Watts of MyTech.
All right. We're joined by James Watts from MyTech. James, thanks for joining.
Thank you. It's a pleasure to be here, Reid.
All right. As our guests are going to definitely expect, I want to start off by talking about checks. We actually talk a lot about the end of checks. And if anybody who listened to the last episode with Peter Davey, he and I covered that quite a bit when he was on. So that said, I did want to leverage your expertise because obviously you've got a lot of background in checks and fighting check fraud and to learn about how the big sophisticated bad guys, let's start there, how these big guys are using this technology and how they're taking all of our money. What are they doing?
You know, Reid, it is actually amazing that checks are still a huge topic here in the year 2025. And let's be real, checks will probably be around long after we retire. Even the 2024 Fed Business Payment Study said that 73% of businesses use checks as a payment vehicle in 2024, which was the highest vehicle used out of all the payment methods.
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Chapters
5 chapters
1
What topics are introduced in the episode opening and headlines?
0:05–10:42
2
Who is James Watts and what will he discuss about payments and fraud?
10:42–20:57
3
How are fraudsters exploiting legacy check processing today?
20:57–24:16
4
Why do businesses keep using checks despite fraud and inconvenience?
24:16–27:49
5
How can faster payments reduce check fraud and what are the limits?
27:49–29:58
Speakers
2 identifiedMore from Off the Rails from the U.S. Faster Payments Council - FPC
24 Sept 2026 Podcast Peter Davey on Killing the Check
10 Sept 2026 Bridget Hall on Faster Payments ROI, International Best Practices, and Dumb Cooking
27 August 2026 Michael Sulla of Mastercard on Agentic Commerce
13 August 2026 Podcast Cathy Lesser Mansfield
30 July 2026 Podcast Erik Van Bramer from Federal Reserve Financial Services
16 July 2026 Callum Godwin of CMSPI on faster payments for merchants