Reed Luhtanen, Executive Director, FPC
As we say goodbye to winter and set our sights on March and beyond, we look forward to warmer weather, springtime buds, and of course, the FPC’s Spring Member Meeting, where we’ll explore the current state of faster payments with an eye toward the future and the opportunities that are in front of us.
During this Spring Meeting, taking place March 27-28 at the Walt Disney World Swan & Dolphin Resort in Lake Buena Vista, FL, we’ll hear more about the current state of FedNow®, and the innovations being built on that foundation in our opening session, It Takes a Village: Industry Partnerships and the FedNow Service. The session will also highlight how organizations can navigate the collection of potential partners to support enablement and ensure organizations continue to meet faster payments demands.
We’ll also look specifically at smaller institutions and current adoption trends and use cases among this group in Credit Unions and Community Banks: Instant Payment Adoption and Use Cases. During this session, we’ll hear directly from institutions like Alloya Corporate Federal Credit Union, First National Bankers Bank, and others, on strategies they have developed and deployed to support send and receive approaches and adoption and use by customers and members.
With our broad analysis of faster payments, it is only fitting that we also examine any corresponding fraud trends. That’s why in As Money Moves Faster, So Does Fraud: How Strategic Friction in the Process Can Mitigate Nefarious Activities, we’ll analyze how fraud has grown as payments speed has increased. Panelists will also review controls banks and fintechs should implement to mitigate fraud, and the methods for disputing and resolving fraud depending on the payment rail used.
But the meeting will be more than perspectives on the current faster payments environment. We’ll also be looking at what’s next for our industry. For instance, in Bridging the Digital Divide: Are Cloud and APIs the Twin Engines of Modern Payments?, we’ll take a look at how cloud optimization can enhance performance, security, and cost-efficiency, and investigate how APIs can bridge the connections between financial institutions, driving innovation and ensuring regulatory compliance.
In addition to APIs and cloud computing, we’ll be exploring digital assets. In Linking Digital Assets to the Future, panelists will explore how the adoption of distributed ledger technology for digital assets can provide transparency, reduced settlement times, and lower processing costs, making digital assets one of the next big things for faster payments.
And in Accelerating Tomorrow: Global Perspectives Shaping the Future of Faster Payments, we’ll have the opportunity to delve into advancements in faster payments across leading markets such as the UK and Brazil. From this, we’ll be able to discover the lessons, challenges, and opportunities that can be extrapolated to the U.S. market to move us forward in our faster payments future.
Through these sessions and more, the Spring Meeting will help us get a better understanding of the now, and ensure we are ready for what’s next. It serves as a critical venue to continue the momentum on our faster payments journey.
If you are not a Member, we invite you to become one today. We guarantee you’ll appreciate the energy, passion, commitment, and shared understanding the Spring Meeting, and all of our meetings, generate. So, visit fasterpaymentscouncil.org to become a Member today and secure your admission to the future of payments.