DCSB: The FSTC Electronic Check Project

[Robert Hettinga <rah@shipwright.com>]

Notice the corrected reservation deadline date (now June 1st, 1996) :-)
Sorry about that...

Cheers,
Bob Hettinga

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                 The Digital Commerce Society of Boston

                               Presents

                              Frank Jaffe,
                      of The Bank of Boston and
          The Financial Services Technology Consortium (FSTC)


                  "The FSTC Electronic Check Project"


                        Tuesday, June 4, 1996
                               12 - 2 PM
                   The Downtown Harvard Club of Boston
                     One Federal Street, Boston, MA


Frank Jaffe is a Senior Systems Consultant in the Applied Technology Group at
the Bank of Boston.  Frank is currently the project manager for the FSTC
Electronic Check project which involves over 30 companies.  Frank has
played a leadership role in planning the amalgamation of Bank of Boston's five
major retail computer systems into a single, common software system; acting
as project leader for a new teller system, and leading the screen phone R&D
project in cooperation with Northern Telecom and Bellcore.


The FSTC Electronic Check project will develop an enhanced all-electronic
replacement to the paper check. Electronic checks will be used like paper
checks, by businesses and consumers, and will use existing inter-bank
clearing systems. Like its paper counterpart, the Electronic Check
represents a self contained "information object," which has all of the
information necessary to complete a payment. Likewise, paper checkbooks are
replaced by portable Electronic Checkbooks; pens & signatures are replaced
by signature card functions and digital signatures using advanced
cryptographic techniques; stamps and envelopes by electronic mail or other
communications options such as the World Wide Web over the Internet.

The fully automated processing capabilities of Electronic Checks opens the
possibility of other types of financial instruments, such as electronic
cashiers, travelers, and certified checks. Electronic check writing and
processing will be integrated into existing applications, from cash
registers to personal checkbook managers to large corporate accounting
systems, to greatly increase the convenience, and reduce the costs, of
writing, accepting, and processing checks.



This meeting of the Digital Commerce Society of Boston will be held on
Tuesday, June 4, 1996 from 12pm - 2pm at the Downtown Branch of the
Harvard Club of Boston, One Federal Street. The price for lunch is $27.50.
This price includes lunch, room rental, and the speaker's lunch. ;-).  The
Harvard Club *does* have dress code: jackets and ties for men, and
"appropriate business attire" for women.

We need to receive a company check, or money order, (or if we *really* know
you, a personal check) payable to "The Harvard Club of Boston", by
Saturday, June 1, or you won't be on the list for lunch.  Checks
payable to anyone else but The Harvard Club of Boston will have to be sent
back.

Checks should be sent to Robert Hettinga, 44 Farquhar Street, Boston,
Massachusetts, 02131. Again, they *must* be made payable to "The Harvard
Club of Boston".

If anyone has questions, or has a problem with these arrangements (We've had
to work with glacial A/P departments more than once, for instance), please
let us know via e-mail, and we'll see if we can work something out.

Planned speakers for the following few months are:

 July        Pete Loshin      Author, "Electronic Commerce"
 August      Duane Hewitt     Idea Futures

We are actively searching for future speakers.  If you are in Boston on the
first Tuesday of the month, and you would like to make a presentation to the
Society, please send e-mail to the DCSB Program Commmittee, care of Robert
Hettinga, rah@shipwright.com .

For more information about the Digital Commerce Society of Boston, send
"info dcsb" in the body of a message to majordomo@ai.mit.edu .  If you want
to subscribe to the DCSB e-mail list, send "subscribe dcsb" in the body of a
message to majordomo@ai.mit.edu .

Looking forward to seeing you there!

Cheers,
Robert Hettinga
Moderator,
The Digital Commerce Society of Boston



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-----------------
Robert Hettinga (rah@shipwright.com)
e$, 44 Farquhar Street, Boston, MA 02131 USA
"If they could 'just pass a few more laws',
  we would all be criminals."    --Vinnie Moscaritolo
The e$ Home Page: http://thumper.vmeng.com/pub/rah/