ATM EFT ACH Expert Witness
 
Gene Cooney Since 2000, electronic payments have grown at a compounded annual rate of over 13%.  Since 2003 electronic payments have exceeded checks as the primary payments mechanism in the United States while the number of check payments has decreased in real terms at an annual rate of 6%.  The trend will continue.  The rapid change in the composition of payment volume requires a different kind of banking and transaction processing experience.  Mr. Cooney has managed ACH, EFT and/or ATM services at two of the 50 largest financial institutions in the United States at the time.  In addition, he has developed, implemented and/or was responsible for numerous ACH based corporate cash management services both as a manager and as a consultant.

There is a tendency to assume a case involving an electronic transaction is always an electronic transaction case.  This is not necessarily so.  Approximately half the time, a case that involves an electronic transaction is a “deposit account” (checking, savings, etc.) case because the deposit account was improperly structured, utilized, coded, procedures or standard banking practices weren’t followed, etc.  Existing laws, regulations and the Uniform Commercial Code provide both considerably more detail and precedent with deposit accounts than with electronic transactions.

In addition, Mr. Cooney has formed an alliance with two consultants who have extensive electronic transaction, technical and data security experience.
 
For additional information on Mr. Cooney’s experience and services offered click here.