FPC 2023 Fall Member Meeting
Sep 26, 2023 - Sep 27, 2023
12:30 pm - 3:30 pm
The Fall Member Meeting will bring together FPC members for two days filled with presentations on the most pressing issues in faster payments, panel discussions with industry experts, roundtables on timely topics, and engaging networking opportunities. This in-person event will take place on September 26-27, 2023, at the Hyatt Centric Beale Street Memphis in Memphis, TN.
MEETING AGENDA
Tuesday, September 26
10:00am-12:30pmCT: Registration/Check-In (Foyer)
12:30pm-12:40pmCT: Opening Remarks (Foundry Ballroom)
Speakers: Michael Bilski, FPC Board Chairperson; Reed Luhtanen, FPC Executive Director
12:45pm-1:25pmCT: Panel Session – What Commerce Experience Do We Want in Faster Payments? (Foundry Ballroom)
Payment networks need volume to scale and keep costs low. Few use cases have the potential for growing volumes as do commerce payments yet paying a merchant with a credit push transfer isn’t easy. Thise session envisions the art of the possible for commerce use cases in the U.S. context. We'll look at examples from faster payment schemes around the world and offer insights for our market through the lens of a merchant enabler and a payment network. Finally, we ask the audience to rank the options.
Speakers: Elizabeth McQuerry, Glenbrook Partners; Ron Herman, Sionic; Jim Colassano, The Clearing House; Matt Howarter, Walmart
1:30pm-2:10pmCT: Panel Session – Careful What You Ask For, You Just Might Get It: Faster Payments Use Cases! (Foundry Ballroom)
This session will highlight faster payments Use Cases focused on real-life case studies from a variety of perspectives such as business end-users and financial institutions that are applying instant payments.
Speakers: Glenn Wheeler, Catalyst Corporate FCU; John Drechny, Merchant Advisory Group; Eralda Hasani, BNY Mellon; Kelly Lewis, Ceridian HCM
2:10pm-2:30pmCT: Networking Break (Foyer)
2:30pm-3:10pmCT: Concurrent Breakout Session – The Practicalities of Cross-Border Payments in a Faster Payments World (Welding Shop)
The practicalities of cross-border payments depend on the specific payment system being used and involves several different steps, including currency conversion, compliance with local regulations, and the transfer of funds between financial institutions in different geographies and time zones. In a Faster Payments world, the process of making cross-border payments is typically faster and more efficient. Our panel will explore this and the related realities from each of their unique perspectives.
Speakers: Barry Tooker, TransactionBanker.com; Bill Thomas, UNFCU; Eralda Hasani, BNY Mellon; Mark Stuart, Ripple
2:30pm-3:10pmCT: Concurrent Breakout Session – Effectively Managing Operational Change for Real-Time Payments (Pattern Shop I)
With increased demand for real-time payments, financial institutions must determine how to effectively manage operational transformation to support these payments. This panel will share practical advice to help companies better understand the operational changes required for real-time payment adoption and conduct an open forum to gather input on the OCWG approach and scope.
Speakers: Miriam Sheril, Form3; Tony Cook, FirstBank; Kate Knudsen, BHMI; Scott Anchin, ICBA Bancard; Deborah Hoster, Alloya Corporate FCU
2:30pm-3:10pmCT: Concurrent Breakout Session – Faster Payments in 2023: How New Technology is Increasing Urgency and Expanding Financial Inclusion (Pattern Shop II)
This session will dive into the dynamic world of instant payment networks. We will explore the launch of FedNow and the intricacies of operating with multiple instant networks. This session aims to provide an in-depth understanding of how these networks impact financial institutions (FIs), the role of supportive partners, and the existing limitations associated with instant payments. We will delve into the operational considerations that FIs need to navigate while embracing two instant payment networks.
Speakers: Matt Brazda, Cross River; Mayank Singhal, Circle; Scarlett Heinbuch, Atlanta Fed; Marcia Klingensmith, FinTech Consulting
3:10pm-3:20pmCT: Networking Break (Foyer)
3:20pm-4:25pmCT: Panel Session – Accelerate the Pace of Faster Payments Implementation in the U.S. (Foundry Ballroom)
The advent of faster payments is here compelling all stakeholders to adapt at an unprecedented rate. Leaders will need to make decisions more quickly; organizations will need to be more agile to opportunities for innovation. Mastering the art of change quickly will be a critical business differentiator. The FPC work groups are putting the building blocks in place to advance the transformation of faster payments, knitted together by shared goals, knowledge, and guiding principles. Their aim is to educate the industry on the inhibitors to faster payments adoption. Join these work group leaders as they debate the building blocks necessary to a business strategy that will withstand the future environment of faster payments.
Speakers: Maria Arminio, Avenue B Consulting; Steve Mott, BetterBuyDesign; Barry Tooker, TransactionBanker.com; Adam Rust, NCRC; Bo Berg, Avenue B Consulting; Dean Nolan, SRM; Josh Karoly, Netflix
4:30pm-5:15pmCT: Panel Session – Payments Beer Nerds Happy Hour (Foundry Ballroom)
What do payments nerds who love beer do when they aren’t working on payments? They get together for beers and talk about payments, of course! Join the Payments Beer Nerds for an informal session as they chat about the intersection of artificial intelligence and payments…and beer.
Speakers: Reed Luhtanen, FPC; Peter Davey, Alloy Labs; Peter Tapling, PTap Advisory; Bridget Hall, ACI Worldwide; Liz Divelbiss, CMSPI; Angela Murphy, Payments Elsa; Adam Rust, NCRC
6:30pm-10:00pmCT: Evening Reception at Silky O’Sullivan’s
Join us for a fun-filled networking event with fellow FPC Members. Food and drinks will be served along with entertainment including dueling pianos. Silky O’Sullivan’s, located at 183 Beale St., is a 5-10 min walk or short car ride from the Hyatt Centric Beale Street.
Wednesday, September 27
8:00am-9:00amCT: Networking Breakfast (Foundry Ballroom)
9:00am-9:05amCT: Day 2 Kick Off (Foundry Ballroom)
9:05am-9:45amCT: Panel Session – Getting Up to Speed on FedNow Post-Launch (Foundry Ballroom)
In a recent Federal Reserve survey, consumers noted a variety of situations where they could leverage instant payments, including person-to-person transfers (57%), account-to-account transactions (32%) and last-minute bill payments (30%) (Source: https://fedpaymentsimprovement.org/wp-content/uploads/051823-consumer-research-brief-1.pdf). With the launch of the FedNow Service, 57 (and counting) organizations are stepping up to meet this demand by enabling instant payments. Join the Federal Reserve and a panel of early adopters to hear how they built their business cases for the FedNow Service and the lessons learned on their journey towards implementation.
Speakers: Connie Theien, Federal Reserve System; Leigh Lytle, Plaid; Bob Steen, Bridge Community Bank; Mark Majeske, Alacriti
9:50am-10:30amCT: Panel Session – Managing Account Opening Risks and Screening Inbound Transactions (Foundry Ballroom)
With an abundance of personal information available on the dark web, fraudsters use this information combined with fabricated credentials to create synthetic identities that go undetected during the account opening process. This expert panel will discuss how criminals utilize these synthetic accounts and faster payments to commit fraud and hide the proceeds of fraud and other illicit activities. The panel will also examine leading practices to help FIs and corporates mitigate these risks.
Speakers: Liam Cooney, Mastercard; Amanda Compton, Arvest Bank; Ajay Guru, Guidehouse; Carla Sanchez Adams, National Consumer Law Center; Mike Timoney, Federal Reserve Bank
10:30am-10:45amCT: Networking Break (Foyer)
10:45am-11:25amCT: Concurrent Breakout Session – Request for Pay: Driving a Consistent Customer Experience to Pave the Way for Adoption (Pattern Shop I)
Over 100 industry experts answered the Federal Reserve’s call to develop standards for a seamless and consistent Request for Pay (RFP) experience. The RFP Customer Experience Work Group selected consumer-to-business bill pay as an initial use case, producing industry standards focused on this goal. Participating organizations will share insights gained and how they will implement these standards to catalyze instant payments adoption with a streamlined RFP customer experience.
Speakers: Paul Amisano, Federal Reserve Bank of Boston; Mike Thomas, US Bank; Josh Karoly, Netflix; Bradley Wilkes, Open Payment Network
10:45am-11:25amCT: Concurrent Breakout Session – Decoding a Complex Directory Landscape (Pattern Shop II)
Early work by the Directory Models Work Group has identified the value and benefits a robust directory capability can provide to a faster payments ecosystem. Other countries, India and Brazil particularly, have illustrated the positive effect directory capability can have on faster payment adoption. The US does not lack directory capability – we have an overabundance of it! Here our experts discuss the challenges and opportunities for establishing interoperable directory capabilities in the United States.
Speakers: Peter Tapling, PTap Advisory; Samson Rajan, JPMorgan Chase; Norm Marraccini; FIS; Ryan Riveland, Early Warning
11:30am-12:30pmCT: Networking Lunch, sponsored by Currency Research (Foundry Ballroom)
12:30pm-1:10pmCT: Panel Session – Digital Assets & Faster Payments: Coming of Age (Foundry Ballroom)
The state of the industry for digital assets has reached an interesting crossroad in its relationship with payments. There are multiple parties and banks involved in the issuance / servicing of bank asset classes – home mortgages, car loans, credit lines, etc. – making the life-cycle management and payments related to these assets an ever-increasing challenge. Current finance infrastructure in the U.S. for digital assets centers around decades-old core processing systems. Newer infrastructure platforms are being built using blockchain / distributed ledger technology, posed to remediate the functional inefficiencies of legacy systems across product lines. In this session, industry leaders from the FPC Digital Assets Work Group will discuss the opportunities and challenges in supporting emerging payments for digital asset classes in a manner that lowers the cost for fulfillment, decreases fraud, and enables faster payment settlement.
Speakers: Valerie Gorsh, Guidehouse; Bo Berg, Avenue B Consulting; Eric Peterson, BNY Mellon; Adam Rust, NCRC; Lou Grilli, PSCU
1:15pm-1:55pmCT: Panel Session – Building Successful Bank-Fintech Partnerships that Transform Financial Services: Integration, Challenges and Solutions (Foundry Ballroom)
This mixed panel of industry-leading bank and fintech experts will dissect the bank-fintech partnership model, to highlight the benefits of these collaborations, discuss the onboarding and due diligence needs of the partnership model, review potential challenges and solutions of API integration, and provide actionable lessons learned from first-hand experience. Panelists will share takeaways including steps banks and fintechs should take to determine if a partnership is a fit, ways to mitigate fraud.
Speakers: Keith Vander Leest, Cross River; Cory Barnes, Form3; Booshan Rengachari, Finzly; Elspeth Bloodgood, Jack Henry
1:55pm-2:10pmCT: Networking Break (Foyer)
2:10pm-2:50pmCT: Panel Session – Liquidity Management, A.K.A. Cash Management: A Challenge for Real-Time Payments (Foundry Ballroom)
Managing unpredictable cash flows for real-time 24x7x365 payments is critical. The presentation will diagram & outline how a reserve account is used for payment transactions from FedNow, ACH, RTP, etc. The panel discussion will address details of rules for reserve accounts, how to ensure funds are available for all payments, how to monitor money in the system, setting limits on the amount that can be transferred & how to handle demand spikes.
Speakers: Karrie Rodriquez, Federal Reserve; Rodman Reef, Reef Karson Consulting; Barry Tooker, TransactionBanker.com; Todd Koehn, Bankers' Bank; Rupa Krishnan, JPMorgan Chase
2:55pm-3:35pmCT: Panel Session – Paying it Safe: Understand the Potential Risks, Mitigating Safeguards, and Best Practices in RfP Use Cases (Foundry Ballroom)
This session will provide colleagues a view into how the RfP working group came together to strengthen the control framework and warranty for RfPs. The panelists will offer unique perspectives from the Network, the RfP Sender, and the Consumer.
Speakers: Jim Colassano, The Clearing House; Mike Thomas, US Bank; Shelley Rojano, JPMorgan Chase; Paul Amisano, Federal Reserve Bank of Boston
3:35pmCT: Meeting Close (Foundry Ballroom)
Return To Events
MEETING AGENDA
Tuesday, September 26
10:00am-12:30pmCT: Registration/Check-In (Foyer)
12:30pm-12:40pmCT: Opening Remarks (Foundry Ballroom)
Speakers: Michael Bilski, FPC Board Chairperson; Reed Luhtanen, FPC Executive Director
12:45pm-1:25pmCT: Panel Session – What Commerce Experience Do We Want in Faster Payments? (Foundry Ballroom)
Payment networks need volume to scale and keep costs low. Few use cases have the potential for growing volumes as do commerce payments yet paying a merchant with a credit push transfer isn’t easy. Thise session envisions the art of the possible for commerce use cases in the U.S. context. We'll look at examples from faster payment schemes around the world and offer insights for our market through the lens of a merchant enabler and a payment network. Finally, we ask the audience to rank the options.
Speakers: Elizabeth McQuerry, Glenbrook Partners; Ron Herman, Sionic; Jim Colassano, The Clearing House; Matt Howarter, Walmart
1:30pm-2:10pmCT: Panel Session – Careful What You Ask For, You Just Might Get It: Faster Payments Use Cases! (Foundry Ballroom)
This session will highlight faster payments Use Cases focused on real-life case studies from a variety of perspectives such as business end-users and financial institutions that are applying instant payments.
Speakers: Glenn Wheeler, Catalyst Corporate FCU; John Drechny, Merchant Advisory Group; Eralda Hasani, BNY Mellon; Kelly Lewis, Ceridian HCM
2:10pm-2:30pmCT: Networking Break (Foyer)
2:30pm-3:10pmCT: Concurrent Breakout Session – The Practicalities of Cross-Border Payments in a Faster Payments World (Welding Shop)
The practicalities of cross-border payments depend on the specific payment system being used and involves several different steps, including currency conversion, compliance with local regulations, and the transfer of funds between financial institutions in different geographies and time zones. In a Faster Payments world, the process of making cross-border payments is typically faster and more efficient. Our panel will explore this and the related realities from each of their unique perspectives.
Speakers: Barry Tooker, TransactionBanker.com; Bill Thomas, UNFCU; Eralda Hasani, BNY Mellon; Mark Stuart, Ripple
2:30pm-3:10pmCT: Concurrent Breakout Session – Effectively Managing Operational Change for Real-Time Payments (Pattern Shop I)
With increased demand for real-time payments, financial institutions must determine how to effectively manage operational transformation to support these payments. This panel will share practical advice to help companies better understand the operational changes required for real-time payment adoption and conduct an open forum to gather input on the OCWG approach and scope.
Speakers: Miriam Sheril, Form3; Tony Cook, FirstBank; Kate Knudsen, BHMI; Scott Anchin, ICBA Bancard; Deborah Hoster, Alloya Corporate FCU
2:30pm-3:10pmCT: Concurrent Breakout Session – Faster Payments in 2023: How New Technology is Increasing Urgency and Expanding Financial Inclusion (Pattern Shop II)
This session will dive into the dynamic world of instant payment networks. We will explore the launch of FedNow and the intricacies of operating with multiple instant networks. This session aims to provide an in-depth understanding of how these networks impact financial institutions (FIs), the role of supportive partners, and the existing limitations associated with instant payments. We will delve into the operational considerations that FIs need to navigate while embracing two instant payment networks.
Speakers: Matt Brazda, Cross River; Mayank Singhal, Circle; Scarlett Heinbuch, Atlanta Fed; Marcia Klingensmith, FinTech Consulting
3:10pm-3:20pmCT: Networking Break (Foyer)
3:20pm-4:25pmCT: Panel Session – Accelerate the Pace of Faster Payments Implementation in the U.S. (Foundry Ballroom)
The advent of faster payments is here compelling all stakeholders to adapt at an unprecedented rate. Leaders will need to make decisions more quickly; organizations will need to be more agile to opportunities for innovation. Mastering the art of change quickly will be a critical business differentiator. The FPC work groups are putting the building blocks in place to advance the transformation of faster payments, knitted together by shared goals, knowledge, and guiding principles. Their aim is to educate the industry on the inhibitors to faster payments adoption. Join these work group leaders as they debate the building blocks necessary to a business strategy that will withstand the future environment of faster payments.
Speakers: Maria Arminio, Avenue B Consulting; Steve Mott, BetterBuyDesign; Barry Tooker, TransactionBanker.com; Adam Rust, NCRC; Bo Berg, Avenue B Consulting; Dean Nolan, SRM; Josh Karoly, Netflix
4:30pm-5:15pmCT: Panel Session – Payments Beer Nerds Happy Hour (Foundry Ballroom)
What do payments nerds who love beer do when they aren’t working on payments? They get together for beers and talk about payments, of course! Join the Payments Beer Nerds for an informal session as they chat about the intersection of artificial intelligence and payments…and beer.
Speakers: Reed Luhtanen, FPC; Peter Davey, Alloy Labs; Peter Tapling, PTap Advisory; Bridget Hall, ACI Worldwide; Liz Divelbiss, CMSPI; Angela Murphy, Payments Elsa; Adam Rust, NCRC
6:30pm-10:00pmCT: Evening Reception at Silky O’Sullivan’s
Join us for a fun-filled networking event with fellow FPC Members. Food and drinks will be served along with entertainment including dueling pianos. Silky O’Sullivan’s, located at 183 Beale St., is a 5-10 min walk or short car ride from the Hyatt Centric Beale Street.
Wednesday, September 27
8:00am-9:00amCT: Networking Breakfast (Foundry Ballroom)
9:00am-9:05amCT: Day 2 Kick Off (Foundry Ballroom)
9:05am-9:45amCT: Panel Session – Getting Up to Speed on FedNow Post-Launch (Foundry Ballroom)
In a recent Federal Reserve survey, consumers noted a variety of situations where they could leverage instant payments, including person-to-person transfers (57%), account-to-account transactions (32%) and last-minute bill payments (30%) (Source: https://fedpaymentsimprovement.org/wp-content/uploads/051823-consumer-research-brief-1.pdf). With the launch of the FedNow Service, 57 (and counting) organizations are stepping up to meet this demand by enabling instant payments. Join the Federal Reserve and a panel of early adopters to hear how they built their business cases for the FedNow Service and the lessons learned on their journey towards implementation.
Speakers: Connie Theien, Federal Reserve System; Leigh Lytle, Plaid; Bob Steen, Bridge Community Bank; Mark Majeske, Alacriti
9:50am-10:30amCT: Panel Session – Managing Account Opening Risks and Screening Inbound Transactions (Foundry Ballroom)
With an abundance of personal information available on the dark web, fraudsters use this information combined with fabricated credentials to create synthetic identities that go undetected during the account opening process. This expert panel will discuss how criminals utilize these synthetic accounts and faster payments to commit fraud and hide the proceeds of fraud and other illicit activities. The panel will also examine leading practices to help FIs and corporates mitigate these risks.
Speakers: Liam Cooney, Mastercard; Amanda Compton, Arvest Bank; Ajay Guru, Guidehouse; Carla Sanchez Adams, National Consumer Law Center; Mike Timoney, Federal Reserve Bank
10:30am-10:45amCT: Networking Break (Foyer)
10:45am-11:25amCT: Concurrent Breakout Session – Request for Pay: Driving a Consistent Customer Experience to Pave the Way for Adoption (Pattern Shop I)
Over 100 industry experts answered the Federal Reserve’s call to develop standards for a seamless and consistent Request for Pay (RFP) experience. The RFP Customer Experience Work Group selected consumer-to-business bill pay as an initial use case, producing industry standards focused on this goal. Participating organizations will share insights gained and how they will implement these standards to catalyze instant payments adoption with a streamlined RFP customer experience.
Speakers: Paul Amisano, Federal Reserve Bank of Boston; Mike Thomas, US Bank; Josh Karoly, Netflix; Bradley Wilkes, Open Payment Network
10:45am-11:25amCT: Concurrent Breakout Session – Decoding a Complex Directory Landscape (Pattern Shop II)
Early work by the Directory Models Work Group has identified the value and benefits a robust directory capability can provide to a faster payments ecosystem. Other countries, India and Brazil particularly, have illustrated the positive effect directory capability can have on faster payment adoption. The US does not lack directory capability – we have an overabundance of it! Here our experts discuss the challenges and opportunities for establishing interoperable directory capabilities in the United States.
Speakers: Peter Tapling, PTap Advisory; Samson Rajan, JPMorgan Chase; Norm Marraccini; FIS; Ryan Riveland, Early Warning
11:30am-12:30pmCT: Networking Lunch, sponsored by Currency Research (Foundry Ballroom)
12:30pm-1:10pmCT: Panel Session – Digital Assets & Faster Payments: Coming of Age (Foundry Ballroom)
The state of the industry for digital assets has reached an interesting crossroad in its relationship with payments. There are multiple parties and banks involved in the issuance / servicing of bank asset classes – home mortgages, car loans, credit lines, etc. – making the life-cycle management and payments related to these assets an ever-increasing challenge. Current finance infrastructure in the U.S. for digital assets centers around decades-old core processing systems. Newer infrastructure platforms are being built using blockchain / distributed ledger technology, posed to remediate the functional inefficiencies of legacy systems across product lines. In this session, industry leaders from the FPC Digital Assets Work Group will discuss the opportunities and challenges in supporting emerging payments for digital asset classes in a manner that lowers the cost for fulfillment, decreases fraud, and enables faster payment settlement.
Speakers: Valerie Gorsh, Guidehouse; Bo Berg, Avenue B Consulting; Eric Peterson, BNY Mellon; Adam Rust, NCRC; Lou Grilli, PSCU
1:15pm-1:55pmCT: Panel Session – Building Successful Bank-Fintech Partnerships that Transform Financial Services: Integration, Challenges and Solutions (Foundry Ballroom)
This mixed panel of industry-leading bank and fintech experts will dissect the bank-fintech partnership model, to highlight the benefits of these collaborations, discuss the onboarding and due diligence needs of the partnership model, review potential challenges and solutions of API integration, and provide actionable lessons learned from first-hand experience. Panelists will share takeaways including steps banks and fintechs should take to determine if a partnership is a fit, ways to mitigate fraud.
Speakers: Keith Vander Leest, Cross River; Cory Barnes, Form3; Booshan Rengachari, Finzly; Elspeth Bloodgood, Jack Henry
1:55pm-2:10pmCT: Networking Break (Foyer)
2:10pm-2:50pmCT: Panel Session – Liquidity Management, A.K.A. Cash Management: A Challenge for Real-Time Payments (Foundry Ballroom)
Managing unpredictable cash flows for real-time 24x7x365 payments is critical. The presentation will diagram & outline how a reserve account is used for payment transactions from FedNow, ACH, RTP, etc. The panel discussion will address details of rules for reserve accounts, how to ensure funds are available for all payments, how to monitor money in the system, setting limits on the amount that can be transferred & how to handle demand spikes.
Speakers: Karrie Rodriquez, Federal Reserve; Rodman Reef, Reef Karson Consulting; Barry Tooker, TransactionBanker.com; Todd Koehn, Bankers' Bank; Rupa Krishnan, JPMorgan Chase
2:55pm-3:35pmCT: Panel Session – Paying it Safe: Understand the Potential Risks, Mitigating Safeguards, and Best Practices in RfP Use Cases (Foundry Ballroom)
This session will provide colleagues a view into how the RfP working group came together to strengthen the control framework and warranty for RfPs. The panelists will offer unique perspectives from the Network, the RfP Sender, and the Consumer.
Speakers: Jim Colassano, The Clearing House; Mike Thomas, US Bank; Shelley Rojano, JPMorgan Chase; Paul Amisano, Federal Reserve Bank of Boston
3:35pmCT: Meeting Close (Foundry Ballroom)
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