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Haitema Leads JP Morgan Chase
to Dominance in ACH Conversion


Navigating the complexity of electronic financial transactions today may appear to require the skill of the fictional character Neo as he battled the machine-driven simulated reality in the 1999 film, The Matrix. That same year marked the introduction of the first conversion of paper checks to electronic payments and the Automated Clearing House (ACH) was born. The rapidly changing and high stakes environment of the Automated Clearing House (like the fictional Matrix) provides a challenging landscape in which rules and avenues previously followed are non-existent or not applicable in the electronic world. New routes, structures, and vernacular are required. Highly skilled, innovative financial executives prove their prowess by leading firms with keen intellect and savvy experience and without the supernatural powers Neo possessed.


Financial Executive, Marcie Haitema is not a contender for fighting off the artificial intelligent Sentinel machines prominent in the Matrix, but she is a motivated advocate for managing financial risk and leading the banking and financial industry in advancing technology. While serving as SVP Division Executive for JP Morgan Chase, Marcie led the Electronic Funds Transfer Services (EFTS) group through cultural changes and technological changes that propelled Chase to the top ranking in Automated Clearing House transactions. She is versed in e-banking, domestic and international automated transactions, wire transfer, foreign exchange, check processing, alternative payments, and multi-channel access.


Marcie moved Chase to the forefront in technological developments in authentication and encryption that enabled it to achieve double digit revenue growth for ACH business, improve return on equity to 248 percent, increase efficiency ratio to 61 percent, and grow shareholder value added (SVA).


While Marcie was working for JP Morgan Chase in 1997, the ACH market was poised for transformation by a change in rules allowing consumer checks to be converted to ACH for faster and cheaper clearing and settlement. Previously, no one had ever attempted check-to-ACH conversion on a large scale, so the technology, operation procedures, marketing campaigns, and sales did not exist. Additionally, the financial industry did not really understand that the value in the process to the client was managing enhanced risk and not cheaper per item clearing fees.


Marcie developed a strategy, marketing campaign, and operational capability to capture the check-to-ACH market. Within 18 months, Chase secured over 50 percent of the ACH market by winning business from such clients as American Express and ARCO. Marcie led her staff to understand and "own" the business. She instilled pride in their work and then leveraged that as a selling advantage to potential clients. Chase never lost large new business opportunities once clients spent time with the staff that would actually do the work.


Marcie understands that a client is taking a risk by selecting a provider. Thus, she does everything possible to ensure that the decision maker is not exposed or put at great risk. She is diligent and exhaustive in ensuring that systems, operations, and procedures are soundly controlled. She believes that the only way to build a payments business that can thrive and flourish is to base it on solid risk understanding, risk mitigation, well-documented procedures, and adherence to applicable laws and regulations. She is a recognized expert in banking operations and has served repeatedly as the National Automated Clearing House Association (NACHA) Board Representative and the Clearinghouse as Electronic Payments Network (EPN) Board Representative.


When entering the uncharted territory of electronic financial transactions, Marcie Haitema demonstrated the focused ability to understand complexity and lead the industry through technological advancements. During her tenure, JP Morgan Chase established itself as a leader in ACH conversions--a dominant position that it maintains today.


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