May 19, 2005
The Anatomy of a Transaction
MasterCard has 3 major financial applications: Authorization, Clearing, and Settlement. This presentation will trace a credit card transaction from point of sale at the merchant's site, to the cardholder's bill. By the end of the presentation the audience will know the path of a credit card transaction from the cardholder's bank, the merchant's bank and the merchant's site.
Our Speaker
Patricia A. Smith
Vice President of Information Technology, MasterCard International
Patricia Smith leads the financial systems development for MasterCard International. This includes clearing, settlement, billing and general ledger systems. She reports directly to Robert Reeg, Senior Vice President of MasterCard’s Global Technology and Operations.
With 25+ years of software development management experience in corporations and financial institutions, Pat and her staff of 110 (including off shore resources) are responsible for analysis, design, construction, testing, and implementation of the new Global Clearing Management System application, as well as maintenance of the existing Clearing and Settlement applications. Pat was the key player in launching MasterCard's first Offshore Development Center in India. Her primary functions include development and execution of the "Integrated Product Message", a new generation of payment processing functionality. Pat is named in the MasterCard's "Integrated Product Message" software patent, in numerous countries. Other functions include twice a year software releases that support the transaction Clearing and Settlement functions which, on peak days, clear over 60 millions transactions per day.
Prior to her current role at MasterCard, Pat provided direction and leadership to the Toronto Development Center staff in Ontario, Canada for MasterCard International. The culturally diverse Toronto staff, using client server technology, designed, developed and implemented a strategic production application for the Australian Processing Center, in Sydney Australia.
Prior to MasterCard Pat spent over 20 years in the banking industry, holding various management positions. As a "hands on" manager for Citicorp Information Resources for 13 years, Pat held numerous key management positions. She planned and executed the implementation of Citicorp's first remote application development center ('85) in Raleigh North Carolina. As a Project Manager for Citicorp, Pat directed the software, hardware and resource consolidation of 5 independent data centers. While at Citicorp, under her leadership and direction, she opened 2 remote customer processing and service centers in Boston and St. Louis, and managed a remote disaster backup site in Ohio.
Pat worked for Centerre Bank ('73 and '88) twice, (now Bank of America) for a total of 9 years, managing the computer processing and applications development of checking and savings accounts for over 100 correspondent banking institutions, while attending college.
Pat was recently featured in St. Louis Business Journal for work on MasterCard's System Enhancement Strategy.
Pat received an award from US Black Engineers Information and Technology magazine - 1999 and was featured in the article "Centurions of Technical Excellence, 100 Women Who Make a Difference in Technology." She was also featured in the Nov/Dec 2001 issue of Diversity Magazine.
Pat is an executive board member on the Arts and Education Council in St. Louis and also services as an advisor to "Creative Company", a not for profit artist group.
Pat is a second year volunteer judge for "FIRST". For Inspiration and Recognition in Science and Technology). The FIRST Robotics Competition (FRC) combines the excitement of sport with science and technology to create a unique varsity sport for the mind. FRC helps high school students discover how rewarding the lives of scientists and engineers can be.
She has a B.A. from St. Louis University, with an emphasis on organizational behavior and management information systems. Her daughter, Danielle, will graduate from St. Louis University Law School Spring 2005.