How Millennials are

changing payments and

processes

May 2, 2017

© 2017 Wells Fargo Bank, N.A. All rights reserved. For public use.

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Meet our speakers

Eric Rausher Cash Management Supervisor,JM Family Enterprises

Malinda Anthony Senior Vice President, Division Sales Manager Wells Fargo

Ryan Jenkins Millennial and Generation Z speaker and author

Thomas Rodriguez Cash ApplicationsManager, Dal-Tile Distribution, Inc.

Eric Rausher Cash Management Supervisor,JM Family Enterprises

Malinda Anthony Senior Vice President, Division Sales Manager Wells Fargo

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Today’s topics

They’re everywhere!

Understanding millennial behavior and trends

Dal-Tile’s payment reinvention program

JM Family Enterprises’ online and e-payment initiatives

Questions

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Millennials

75.4 million strong

25% of U.S. population

34% of today’s workforce

50% of 2020 workforce

$200 B spending power

Source: U.S. Census Bureau, Pew Research

The digital company. That’s

also an industrial company.

GE

Good morning. All day.

Good morning. All night.

Good morning. Whenever.

McDonald’s

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Audience poll

Which of these has helped to shape Millennials’ actions and attitudes

A. Technology – internet, smart phones, online shopping

B. Social media – Snapchat, Instagram, Facebook

C. The Great Recession

D. Student debt

E. All of the above

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Audience poll

To which generation do you belong?

A. Generation Z (<18)

B. Millennials (19-35)

C. Generation X (36-51)

D. Baby Boomers (52-70)

E. Builders (71-88)

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Audience poll

What payment types do you currently offer your customers?

Check

Check and card

Check, card, and ACH

Check, card, ACH, and mobile (PayPal, Apple Pay, mobile wallet, etc.)

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Thomas Rodriguez, Cash Applications Manager

Dal-Tile’s payment reinvention

Program

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Dal-Tile

Largest manufacturer and distributor of ceramic tile in U.S.

Nearly 300 sales-service centers nationwide

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Payments at sales-service centers per month

$60 million

11,000 checks

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Millennialcustomers

Taking over family businesses

Managing business processes for employers

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Marketing

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Requirements

Minimal IT involvement

High adoption rate

Complete remittance information

Solutions

Virtual Lockbox

E-Bill Express

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Virtual lockbox

Scan checks

Send electronic file tobank

Receive one bank file for all payment channels

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E-Bill Express

Online invoices

Online payments

Seamless cashapplication

No storing of bank or credit card data

Eric Rausher, Cash Management Supervisor

JM Family’s online and

e-payment initiatives

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Largest independent Toyota distributor in the world, serving Alabama, Florida, Georgia, North Carolina, and South Carolina

Captive finance company for Southeast Toyota dealers (Consumer Retail & Lease and Commercial lending) and provider of third-party servicing to companies in the finance industry

One of the largest providers of finance and insurance (F&I) products, services and training in the U.S. automotive industry. Private label provider for SET, VW/Audi and Kia Motors.

#1 volume Lexus dealer in the world for 24 consecutive years.

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Millennials

24% of consumer customers

Employed by dealerships in sales, service, management positions

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Online vehicle ordering and customization program

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Dealer program: ACH vehicle payoff now in test

Before: Check payoff 3-4 day paper intensiveprocess

After: ACH payoff

2-3 day process

Less paper

No courier costs

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Consumer program:Website optimization for online & mobile payments

Payments:35% online

50% electronic

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Dealer program:

e-Contracting

Before: Triplicate paper contracts completed and sent to JM Family or Dallas lockbox where they’re scanned and sent toinsurance.

After: 51% of finance contracts completed online.

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Ready UponArrival

Everything’s online

but the car

RUAWE’RE REVOLUTIONIZINGThe Way You Buy Luxury With

READY UPON ARRIVAL

Click Here or call 855-LEXUS-RUA to learn more

3 Easy Steps

1. Select your vehicle.

2. Negotiate your deal.

3. Take delivery & go!

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Ready UponArrival

Rolled out in May

2 dedicated RUA specialists

44 vehicles delivered

7% of newvehicles sold

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Great place towork

#45 on 100 Best Workplaces for Millennials

#15 on 20 Best Workplaces for Baby Boomers

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Audience poll

How prepared is your organization to engage millennials and create loyalty among them for your brand and your products or services?

a. Very well prepared

b. Fairly well prepared

c. We need work

Questions

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Speaker biography

Ryan JenkinsMillennial and Generation Z speaker and author

Ryan Jenkins is an internationally recognized Millennial and Generation Z keynote speaker, author, and Inc.com columnist based in Atlanta, Georgia. For five years, Ryan has helped organizations such as Coca-Cola, John Deere, Altria Group, ConAgra Foods, Aramark, and others in industries including insurance, security, banking, healthcare, education, and consumer products to better lead, engage, and market to the emerging generations.

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Speaker biography

Thomas Rodriguez

Cash Applications Manager, Dal-Tile Distribution, Inc.

Thomas Rodriguez, a graduate from the University of Phoenix, has worked in the cash management field for over 20 years. Thomas leads the cash applications team for Dal-Tile, the largest ceramic tile manufacturer in theU.S. and one of the largest tile manufacturers in the world with more than 10,000 associates and 250 Sales Service Centers in the U.S, Canada, and Puerto Rico.

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Speaker biography

Eric RausherCash Management Supervisor, JM Family Enterprises

Eric Rausher is a 2001 graduate of the University of Central Florida in Orlando. Eric has been with Deerfield Beach, Florida-based JM Family Enterprises, a diversified automotive business with revenues of $14.5B in 2015, since 2006. As Cash Management Supervisor, Eric manages the daily cash process as well as short-term investment options for the company.

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Speaker biography

Malinda AnthonySenior Vice President, DivisionSales Manager, Wells Fargo

Malinda Anthony is Senior Vice President and Division Manager with Wells Fargo’s Treasury Management Group. Malinda manages the consulting efforts for the North Division comprised of six states in the Midwest. She and her team provide industry insight, process reviews, best practices and benchmarking in working to meet the financial needs of companies today and in the future.

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Ryan Jenkins references

Bankrate ,Money Pulse 2016: http://fortune.com/2016/06/13/millennials-dont-own-credit-cards/

PayPal, Millennial Credit Makeover: https://www.paypal.com/stories/us/the-millennial-credit-makeover Salesforce, How Millennials are Shaping Mobile Payments: https://www.salesforce.com/blog/2015/04/how-millennials-shaping-mobile-payments-gp.html

Payments Journal, Millennials Lead the Change on Mobile Payment Adoption, 2016: http://www.paymentsjournal.com/Content/Blogs/Industry_Blog/30315/

FirstData, The Unbanked Generation: A Guide to the Financial Habits of Millennials: https://www.firstdata.com/en_us/all-features/millennials.html

Internet Retailer, Mobile Commerce Now 30% of All US e-Commerce: https://www.internetretailer.com/2015/08/18/mobile-commerce-now-30-all-us-e-commerce

Benchmark Email, Meet the Mobile Generation and Mobile Marketing: http://www.benchmarkemail.com/blogs/detail/meet-the-mobile-generation-millennials-and-mobile-marketing

Deloitte: The 2015 Millennial Survey: http://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-wef-2015-millennial-survey-executivesummary.pdf

Millennial Marketing, Who Are Millennials: http://www.millennialmarketing.com/who-are-millennials/

CNBC, How Trillion-dollar Millennials are spending their cash:: http://www.cnbc.com/2015/08/17/how-trillion-dollar-millennials-are-spending-their-cash.html

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