The Electronic Funds Transfer Association has elected seven prominent electronic banking executives to its board.
They include the heads of two major automated teller machine networks: Denny D. Dumler, president of Plus System Inc., a Visa subsidiary; and Richard P. Yanak, president of Infinet Payment Services, formerly NYCE and Yankee 24.
The others are Alfred S. Dominick Jr., executive vice president of Boatmen's Bancshares; Daniel R. Eitingon, executive vice president, First Interstate Bank of California; Albert A. Irato, president of Hypercom Inc., the point of sale equipment maker; Matthew P. Lawlor, chief executive officer of Online Resources and Communications Corp., manufacturer of the ScreenPhone for home banking; and Bruce G. Wilson, chief operating officer of Cybercash Inc., a developer of systems for secure on-line payments.
The additions, to both new and vacant seats, bring the EFTA board to 31 members and underscore the association's resolve to play a prominent role in industry education and policymaking, said chairman Robert P. Barone.
The Herndon, Va.-based association has mapped out an aggressive growth plan since Mr. Barone, a former president of Diebold Inc., became chairman and chief executive officer late last year.
At the same time, veteran banking researcher Wayne I. Boucher was appointed president and chief operating officer, with day-to-day management responsibilities overseeing a staff of five.
They have adopted a "vision statement" aimed at revitalizing a group widely perceived as having lost its edge as a multi-industry forum on banking technology and payments issues.
Mr. Barone said recently that the association's roles will include research and education, government relations, media relations, and other tasks related to advancing the benefits of "a global, electronic, paperless value exchange system."
Mr. Barone stressed that the association views its mandate as global and will "develop in that direction over the next couple of years." It intends to form alliances, joint ventures, and perhaps merge with other groups to build its information repository and otherwise get greater mileage out of limited resources, Mr. Barone said.
One manifestation of that effort is the association's annual conference, scheduled for March 26-29 in New Orleans. It will run concurrently with that of the National Automated Clearing House Association, and they will share keynote sessions, meals, and social functions.
Mr. Barone added that he hopes to boost EFT Association membership to 450 organizations by yearend from 300 at the time he entered.
