Ira Bornstein is the Chief Strategist at TouchSuite, one of the country’s leading U.S. technology companies. Formerly the company’s COO, Ira plays an integral role in the company’s operational workflows, risk mitigation, new product development and enhancement of overall profitability.
At TouchSuite, Ira played an essential role in the company’s product development of its original salon-industry point-of-sale system and with online payment gateways for schools and charities. He was vital in coordinating TouchSuite’s business structure during America’s recession to position for maximum sales effectiveness, strategic M&A activity and portfolio acquisitions. Ira is a graduate of Bentley College with a Bachelor’s in Finance and holds an MBA in Management from the University of Miami.
Ira indicated that we can expect another major new technology in the point-of-sale (POS) systems because there are two issues of concern in this component of the trade process: 1) trends in shopping environment, such as retail stores and online stores; and 2) criminal efforts to exploit weaknesses in new technology.  He told us about some of the experiences and solutions for handling credit card processing as the cards are processed by POS systems.  For example, in most US restaurants the waiter takes the diners card to a processing station, whereas in many other country restaurants the waiter brings a POS device to process the diner's card at the table.  Each situation presents different exposures to criminal compromise.  Also, the credit card packaging has changed to use a chip on the card to create unique encryption of personal identification each time it is used, whereas the cards without the chip could easily be compromised by capturing the data stored on the magnetic strip and using it on a counterfeit card.
The stories and technological changes elicited many conversations during Ira's presentation and for quite awhile after the meeting ended.  A very interesting and engaging topic for our club.  We hope Ira will return as one of our member's guest and become interested in our club so many more conversations on this topic may be experienced.
Prior to rejoining TouchSuite, Ira was focused on business process engineering and optimization with a highlight on the FinTech (Financial Technologies) sector. Holding officer level roles with Morgan Stanley, Countrywide Home Loans and most recently as Director of Business Operations at TransUnion’s Specialized Risk Division in Boca Raton, Florida, Ira created solutions to satisfy customer needs in Business-to-Business (B2B) and Business-to-Client (B2C) environments with leading companies in both corporate America and in the SMB (Small to Mid-size Business) sector.