FPC 2024 Fall Member Meeting
Sep 30, 2024 - Oct 1, 2024
8:00 am - 1:00 pm
The Fall Member Meeting is set to gather FPC members for two days of insightful presentations, dynamic panel discussions with industry experts, timely roundtables, and valuable networking opportunities. Dive into the latest trends and challenges in faster payments, and connect with peers and leaders in the field.
This event will take place on September 30-October 1 at the Hyatt Regency Denver at Colorado Convention Center in Denver, CO. Be part of the conversation shaping the future of faster payments.
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MEETING AGENDA
Monday, September 30
8:00am-9:00amMT: Networking Breakfast (Capitol Ballroom 1-4)
9:00am-9:10amMT: Opening Remarks (Capitol Ballroom 1-4)
9:15am-9:55amMT: Panel Session – First Look at the 2024 Faster Payments Barometer Results (Capitol Ballroom 1-4)
10:00am-10:40amMT: Panel Session – Soaring or Stalling: Why Instant Payment Volumes Aren't Matching the Hype (Capitol Ballroom 1-4)
The slow adoption of instant payments is a wakeup call: only a fraction of the nation’s financial institutions are on board with the RTP network and FedNow, but access to instant payments is still not mainstream. It’s time to confront the harsh reality—innovation alone doesn’t drive broad adoption. Strategic shifts are required to unlock the full potential.
10:40am-10:50amMT: Networking Break (Capitol Foyer)
10:50am-11:30amMT: Concurrent Breakout Session – Pick A Side: Do We Need Directories to Drive Faster Payments Adoption? (Capitol Ballroom 5)
Much has been said about how a directory capability will drive faster payments adoption. Where is a directory necessary and where is it not? Who’s to say a directory is necessary – the senders or receivers? What are the pros and cons? This session will pressure test the need for a directory capability with a live debate. The moderator will drive the conversation, but audience participation will be encouraged!
Speakers: Greg Lloyd, Endava; Sarah Hoisington, Matera; Jim Schneck, Alloya Corporate Federal Credit Union; Liz Garner Divelbiss, CMSPI; Lou Grilli, PSCU
10:50am-11:30amMT: Concurrent Breakout Session – Industry Collaboration to Define and Classify Scams (Capitol Ballroom 7)
In 2023, the FTC reported $10 billion in losses from scam activity, a 14% increase from the previous year. In response, the Federal Reserve formed a scams definition and classification work group of payments and fraud experts to provide a more consistent foundation for scams reporting to help the payments industry better understand and mitigate the problem. This panel will discuss the classification system and how it can be utilized by the industry to drive consistency and combat scams.
Speakers: Liam Cooney, Mastercard; Mike Timoney, Federal Reserve; Yinglian Xie, DataVisor
11:30am-12:30pmMT: Networking Lunch (Capitol Ballroom 1-4)
12:30pm-12:40pmMT: Special Presentation (Capitol Ballroom 1-4)
12:40pm-1:20pmMT: Panel Session – .14 Seconds between First and Last Place: The Future Ecosystem of Real-Time Treasury and Payments (Capitol Ballroom 1-4)
The difference between first place and last place can be in .14 seconds. For the first time in the history of the United States Payment's Conferences, AI will be a sitting panelist and answer questions alongside the other esteemed panelists. This session will be a pioneering and historic panel that promises to demonstrate what the future ecosystem of real time treasury and payment operations will look be from leading FIs, Fintechs, ecosystem orchestrators, and artificial intelligence.
Speakers: Jonathan Shiery, Guidehouse; Caroline Cypriano, JJ4Tech
1:25pm-2:05pmMT: Panel Session – Beyond 'Receive-Only' in Instant Payments: At Strategic Opportunity for Financial Institutions (Capitol Ballroom 1-4)
As FedNow recently celebrated its first year since launching and RTP continues to gain traction in the market, the landscape of instant payments in the US brims with potential. However, a recent survey by FPC and Finzly reveals a stark reality: two-thirds of financial institutions lack the capability to ‘send’ instant payments. Does this signal a crucial gap in capitalizing on opportunities? The success of Brazil's Pix and India's UPI in instant payments, leveraging open ecosystems and user-centric apps, highlights the need for US financial institutions to modernize their offerings, especially by including capabilities for sending instant payments. This panel aims to explore strategic pathways for enhancing ‘sending’ capabilities and navigating the evolving landscape.
Speakers: Booshan Rengachari, Finzly; Reed Luhtanen, FPC; James Dillard, Texas Capital Bank; Erik Van Bramer, Federal Reserve Financial Services
2:05pm-2:20pmMT: Networking Break (Capitol Foyer)
2:20pm-3:00pmMT: Concurrent Breakout Session – Leveraging Instant Payments to Find the Disbursements and Cash Management Sweet Spot (Capitol Ballroom 5)
With access to FedNow and RTP instant payments, businesses and consumers are gaining new levels of flexibility to send payments and maintain or improve their cash flow. Financial Institutions are enabling use cases and improving send reach that allows customers to manage their cash on hand and easily disburse payments up to the due date while maintaining a positive account status and avoiding late fees.
2:20pm-3:00pmMT: Concurrent Breakout Session – The Power of ISO 20022: Unlocking Efficiency and Global Reach in Payments (Capitol Ballroom 7)
The world of payments is undergoing a major transformation with the adoption of ISO 20022. This session dives into the improvements this standard brings and why financial institutions shouldn't miss out. We'll explore 1) How ISO 20022 aligns different payment systems, facilitating smoother cross-border transactions; 2) The benefits of standardized data fields that eliminate data loss and ensure clear messaging; and 3) How ISO 20022 prepares existing payment systems to maintain their relevance.
3:00pm-3:15pmMT: Networking Break (Capitol Foyer)
3:15pm-3:55pmMT: Panel Session – How Pay-by-Bank is the Perfect Solution for Merchants and Consumers (Capitol Ballroom 1-4)
Pay-by-Bank has struggled to emerge into retail in the past due to the prevalence of consumer-oriented payment methods like debit and credit cards. However, with the launch of FedNow and it's contemporary, ACH Real Time Payments, Pay-by-Bank is primed to launch as instant authorization and settlement is a significant benefit to all stakeholders in the payments ecosystem. Join a panel of merchant and provider experts as they discuss the use cases and potential of faster and A2A payments.
4:00pm-4:40pmMT: Panel Session – Financial Inclusion and Cross-Border Payments: Perspectives Opportunities and Challenges (Capitol Ballroom 1-4)
In this session, we'll carry forward the panel from the Spring Member Meeting and place a strong emphasis on the human element with personal experiences and challenges facing underrepresented communities.
5:00pm-7:00pmMT: Networking Reception (Capitol Foyer)
Tuesday, October 1
8:00am-9:00amMT: Networking Breakfast (Capitol Ballroom 1-4)
9:00am-9:05amMT: Day 2 Kick Off (Capitol Ballroom 1-4)
9:05am-9:45amMT: Panel Session – The Path to Enabling Cross-Border Real-Time Payments (Capitol Ballroom 1-4)
As real-time payments progress towards ubiquity across the U.S., cross-border ambitions continue to increase. In this session, we'll discuss essential components required to make cross-border real-time payments a reality. On behalf of the Cross-Border Payments Work Group, our expert panel will discuss the needs of global standards, regulatory and political challenges, infrastructure and use cases.
9:50am-10:30amMT: Panel Session – Consumer Faster Payments Pain Points and the Search for Solutions (Capitol Ballroom 1-4)
In this session, consumer advocates and others who regularly deal with individuals suffering a loss through the use of faster payments will talk about the impact scams, imposter schemes, and other payment issues are having on consumers, and some suggestions for addressing these problems.
10:30am-10:40amMT: Networking Break (Capitol Foyer)
10:40am-11:20amMT: Concurrent Breakout Session – Embracing AI in Payments: What's Next? (Capitol Ballroom 5)
In the rapidly evolving world of faster payments, artificial intelligence (AI) is a game changer, transforming how payments are processed, secured, and conceptualized. This session will dive into the forefront of AI innovations that are setting new benchmarks in the payments industry. Industry experts will explore current trends in AI that impact payment technologies, from fraud detection algorithms and risk management to personalized customer experiences and operational efficiencies.
Speakers: Angela Murphy, Pidgin; Peter Tapling, PTap Advisory; Kevin Miyamoto; Identifee; Glenn Wheeler, Catalyst Corporate Federal Credit Union
10:40am-11:20amMT: Concurrent Breakout Session – Instant Payment Send Adoption Playbook – Operational Considerations for FIs (Capitol Ballroom 7)
In this session, join the Operational Considerations Work Group for discussion on FI implementation of instant payment send capabilities. Hear considerations including user experience, transaction routing, payments risk management, and navigating interoperability. The session features perspective from those who have been engaged in operationalizing send-side instant payments firsthand – highlighting obstacles faced and key learnings. We will wrap up with an interactive session for feedback on our research efforts.
11:20am-11:35amMT: Networking Break (Capitol Foyer)
11:35am-12:30pmMT: Panel Session – Insights Into the Instant Payments Outlook Study (Capitol Ballroom 1-4)
Join us as the Federal Reserve and FPC host a panel of industry participants to discuss the recent Instant Payments Outlook survey that was conducted to help the industry quantify key leaders' insights into the adoption of instant payments. Participants can expect to hear from industry experts on use-case trends, as well as key drivers that are helping (or challenging) instant payments adoption.
Speakers: Brian Mantel, Federal Reserve; Reed Luhtanen, FPC; Elspeth Bloodgood, Jack Henry; Keith Vander Leest, Cross River
12:30pmMT: Meeting Close (Capitol Ballroom 1-4)
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FPC 2024 Fall Member Meeting
09/30/2024 - 10/01/2024
8:00 am - 1:00 pm