Reed Luhtanen, Executive Director, FPC
We’re at that time of year again, where the weather cools, the leaves begin to change color, and…… we gear up for the FPC’s Fall Member Meeting.
This fall, we are excited to welcome everyone to Denver, Colorado, September 30 - October 1, for a meeting packed with the latest developments on faster payments relayed by those leading and driving faster payments advancement; networking with those who can help you shape and progress your faster payments’ goals; and some time to unwind and have fun.
We’ll kick off the fall meeting with a “first look” at the results from our 2024 Faster Payments Barometer Survey, sponsored by Volante Technologies. Given we’ve seen so much growth this year alone in faster payments use and volume, and there’s a growing energy around all the possibilities faster payments enable, we are eager to share with you the trends, insights, and opportunities from this study.
We also will hold a session to deliver findings from the Instant Payments Outlook Study, which was conducted to help the industry quantify key leaders' insights into the adoption of instant payments. In the session, Members will be able to hear from industry experts from the Fed, Amazon, and more on use-case trends, as well as key drivers that are helping (or challenging) instant payments adoption.
One of the challenges that has been identified with instant payments adoption is that institutions lack the capability to “send” instant payments. A recent survey by the FPC and Finzly revealed that two-thirds of financial institutions are unable to do so. In the Fall Member Meeting session, Beyond 'Receive-Only' in Instant Payments: A Strategic Opportunity for Financial Institutions, industry experts will explore strategic pathways for enhancing ‘sending’ capabilities and navigating the evolving faster payments landscape. The FPC’s Operational Considerations Work Group, which just published Operational Considerations for Receiving Instant Payments, will also present the steps to enable the implementation of send capabilities within financial institutions during Instant Payment Send Adoption Playbook – Operational Considerations for FIs. This session will provide perspectives from those who have been engaged in operationalizing send-side instant payments firsthand, highlighting obstacles and challenges, as well as key learnings.
In addition, we’ll convene to explore the role of AI in the future of faster payments. In Embracing AI in Payments: What’s Next?, panelists will delve into the AI innovations that are setting new benchmarks in the payments industry. Experts will explore current trends in AI that impact payment technologies, from fraud detection and risk management to personalized customer experiences and operational efficiencies. Additionally, in 14 Seconds between First and Last Place: The Future Ecosystem of Real-Time Treasury and Payments, AI will serve as a sitting panelist – a first at an FPC meeting. Along with other panelists from leading financial services organizations, AI will answer questions around what the future of payments and treasury will look like.
And what’s an FPC meeting without a fun outing? Sponsored by Cross River, the Fall Member Meeting Evening Event will take place on September 30 at Lucky Strike Denver, where Members can enjoy food and drinks along with activities including bowling, billiards, shuffleboard, and cornhole.
The FPC’s Fall Member Meeting will be one of the most insightful, action-prompting, and spirited events of the fall. The gathering will surely serve as a significant opportunity to move the industry forward.
If you are interested in helping us advance faster payments in the United States, please consider becoming an FPC Member. Members can attend meetings, participate in Work Groups, and play a pivotal role in shaping the future of the faster payments industry. Learn more and consider joining today.