The internet dating industry, along with all of online retail, demands a healthy credit market to survive. Global economics and availability of credit are tantamount. In this session, Steven Faktor (Vice President of the Chairman's Innovation Fund at American Express) will explain the current credit situation, as well as how it has affected online retail as a whole. A melding of post-recessionary economics with innovation strategies will also be discussed.
BIO - STEVE FAKTOR
Steve Faktor is a leader in creative transformation with a reputation for asking 'why not?' - and daring others to do the same. His innovations reside in consumer wallets and retailers worldwide. Steve is currently Vice President at American Express managing Portfolio Optimization, the Chairman's Innovation Fund, and strategic projects for the CFO and CEO. He frequently speaks and writes about the future of business and the intersection of economics and innovation.
Previously, Steve co-founded Blue Beacon Partners, LLC to help start-ups and corporations develop lasting innovations and build a sustainable, innovation pipeline. As SVP at Citigroup, Steve launched an innovation program, a fast-track product development process, and a revolutionary new retail branch model.
Before Citi, Steve spent almost five years at MasterCard, where he was head of Strategy and Planning for the Commercial Products business. Steve also launched a company-wide new product development program and invented Commerce Coalition, a loyalty program spanning large, non-competing merchants. He also led the company's pre-IPO global merchant strategy, as well as innovations across the company's credit, debit, prepaid, online payment, and commercial businesses. His bank clients included GE, UBS, and Citigroup.
Prior to corporate life, Steve was a management consultant for Andersen and two boutique firms. He specialized in marketing, strategy, technology, process improvement, and customer relationship management. Steve led and sold numerous, multi-million dollar projects to a variety of clients including WPP Group (Ogilvy), Samsung, JVC, Bombardier, Boise Cascade, Omnicom Group, and PSEG.
Steve has a B.S. in Economics and Accounting from Stern School of Business at NYU. Steve is based in New York City and is an actively involved in Junior Achievement. Other interests include writing, travel, new technology, and the arts.