FPC 2022 Fall Member Meeting
Sep 14, 2022 - Sep 15, 2022
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 14-15, 2022 at the Delta Hotels Minneapolis Northeast in Minneapolis, MN. Please register for the event using the link below:
MEETING AGENDA
Wednesday, September 14
12:30pm-12:40pmCT: Opening Remarks (Minneapolis Ballroom Salon AB)
Speakers: Michael Bilski, FPC Board Chairperson; Reed Luhtanen, FPC Executive Director
12:45pm-1:20pmCT: Panel Session – CRB Use Cases for Faster Payments (Minneapolis Ballroom Salon AB)
Cannabis related businesses (CRBs) generated over $22 billion in retail sales in 2021 with an overall market in excess of $45 billion. CRBs are gaining access to traditional banking, and pending legislation such as the SAFE Banking Act and the MORES Act will drive an acceleration bank relationships. Money movement within the market for legal cannabis products must move to the traditional banking system as a matter of safety, equity and inclusion. What will this look like in the coming years? The Emerging Markets Coalition and the National Association of Cannabis Businesses have partnered to craft standards in all things money. Regulators encourage these efforts to educate and set a high bar, as evidenced in public commentary by NCUA board member and former chair Rodney Hood. What will this look like in the coming years? How can we look to this rapidly growing business for new use cases for instant payments?
Speakers: Peter Tapling, PTap Advisory; Kirsten Trusko, Emerging Markets Coalition; Adrian Bruneau, Presidio Strategic Consulting; Walt Cox, Valley Bank
1:25pm-2:10pmCT: Panel Session – Faster Payments for Financial Inclusion of the Underserved (Minneapolis Ballroom Salon AB)
A panel with Financial Inclusion Work Group members will explore the holistic approach to advance financial inclusion and drive interest in the adoption of faster payments. They will discuss how the recently published white paper on “Faster Payments and Financial Inclusion” illustrates the pain points and barriers to financial inclusion, actions, and solutions to expand, requirements of the underserved, action and solutions for issues, and considerations for faster payment stakeholders.
Speakers: Gail Hillebrand, National Consumers League; Adam Rust, National Community Reinvestment Coalition; David Dwumah, OurBanc Corporation
2:10pm-2:30pmCT: Networking Break (Minneapolis Foyer)
2:30pm-3:10pmCT: Concurrent Breakout Session – International Best Practices in Directory Models (Minneapolis Ballroom Salon C)
This panel discussion will go over the findings and key lessons learned from the Directory Models Work Group on international implementations of directories. The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. market needs to keep in mind when creating directories.
Speakers: Peter Tapling, PTap Advisory; Andrew Gómez, Lipis Advisors; Nick Denning, ICBA Bancard
2:30pm-3:10pmCT: Concurrent Breakout Session – QR Codes Aid in the Adoption of Faster Payments (Minneapolis Ballroom Salon D)
Whether initiated by the customer or merchant, QR codes have a growing number of data elements that need to be captured in the transaction, necessitating increased cryptography to ensure transaction security. In this session, FPC QR Code work group leaders address the call to action for payment industry standards needed for universal acceptance and interoperability of QR codes.
Speakers: Scott Green, SHAZAM; Abu Carri, Mastercard; Steve Wasserman, Vments
3:20pm-3:40pmCT: Special Presentation (Minneapolis Ballroom Salon AB)
3:40pm-4:20pmCT: Panel Session – Instant Payments on Consumer Demand (Minneapolis Ballroom Salon AB)
Recent Federal Reserve research provides fresh insights on consumers’ growing demand for faster payments to pay businesses and individuals. In fact, 83% report they already use digital wallets or fintech mobile apps and 62% plan to use faster payments more. This session will cover how fintechs and financial institutions can get ready to meet this demand when the FedNowSM Service launches nationwide next year. Also, check out resources on the FedNow Explorer website and FedNow pilot program.
Speakers: Connie Theien, Federal Reserve Financial Services; Gail Hillebrand, National Consumers League; Syed Ejaz, Consumer Reports; Liana Muller, U.S. Bank
6:30pmCT: Minnesota Twins Baseball Game/Evening Event, sponsored by North American Banking Company
Join us for a fun-filled networking event with fellow FPC Members watching the Minnesota Twins vs. Kansas City Royals baseball game. Bus transportation to Target Field will be provided starting at 5:00pm from the hotel lobby.
Thursday, September 15
8:00am-9:00amCT: Networking Breakfast, sponsored by Open Payment Network (St. Paul Ballroom)
Stop by the FPC Education & Awareness Work Group Showcase to learn more about the new industry resources being developed and published soon. Payments as a Lifeline (PaaL) will also be hosting a roundtable discussion on Humanitarian Aid during disasters. Looks for designated tables to join the discussion.
9:00am-9:05amCT: Day 2 Kick Off (Minneapolis Ballroom Salon AB)
9:05am-9:45amCT: Panel Session – International Faster Payments (Minneapolis Ballroom Salon AB)
This panel session will explore the current faster payments trends and lessons learned from International markets.
Speakers: Elizabeth McQuerry, Glenbrook Partners; Chris Jewell, Zepto; Joerg Richter, Equens Worldline; Carlos Corrales, Tesabiz
9:50am-10:30amCT: Panel Session – Implications and Next Steps for Irrevocability in Faster Payments (Minneapolis Ballroom Salon AB)
This panel session will explore the benefits and drawbacks of irrevocability, the implications for consumers, and best practices.
Speakers: Peter Tapling, PTap Advisory; Laura Menken, Early Warning; Gail Hillebrand, National Consumers League; Carl Slabicki, BNY Mellon
10:30am-10:45amCT: Networking Break (Minneapolis Foyer)
10:45am-11:25amCT: Concurrent Breakout Session – Central Bank Digital Currencies and Their Potential Impacts on Cross-Border Payments (Minneapolis Ballroom Salon C)
CBDCs are seen by many central banks as an opportunity to simplify and enhance the performance of cross-border payments and make their ultimate settlement available 24/7. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs. With the number of ongoing global CBDC initiatives and the publication of the new series bulletins the panel will explore the possible impacts of CBDCs on cross-border payments.
Speakers: Barry Tooker, TransactionBanker.com; Jim Cunha, Federal Reserve Bank of Boston; Andrew Haskell, BNY Mellon; Rodman Reef, Reef Carson Consulting
10:45am-11:25amCT: Concurrent Breakout Session – Real-Time Payment APIs, Global Market Practices, and Lessons Learned for the U.S. (Minneapolis Ballroom Salon D)
FPC API Work Group leaders will provide a deep dive into country-specific aspects of APIs developed to support real-time payment rails, highlighting areas of commonalities and differentiation in the global market. Focusing on “credit push” transactions, our experts will provide some guidance on the value-added functionality that U.S. stakeholders should be supporting and identify the challenges in building out the API features that are required for ubiquitous access.
Speakers: Dean Nolan, Fifth Third Bank; Moa Agrell, Trustly; Steve Wasserman, Vments
11:30am-12:30pmCT: Lunch Served (St. Paul Ballroom)
Stop by the FPC Education & Awareness Work Group Showcase to learn more about the new industry resources being developed and published soon.
12:30pm-1:10pmCT: Panel Session – Efficiency and B2B Payment Modernization (Minneapolis Ballroom Salon AB)
With the FedNowSM service coming next year, there’s no time like the present to prepare for and innovate on instant B2B payments improvements. A robust information exchange framework with common standards and protocols is a step toward enabling e-invoices and e-remittances support for instant payment messages in the United States. Join this session to learn more about exchange framework assessments and pilot programs backed by the Business Payments Coalition (BPC), Federal Reserve and industry.
Speakers: Guy Berg, Federal Reserve Bank of Minneapolis; Michael Young, Photon Commerce; Booshan Rengachari, Finzly; Jayna Bundy, Microsoft; Ashley Czajkowski, BNY Mellon
1:15pm-1:55pmCT: Panel Session – Fraud Mitigation in Practice: Putting the Power of Data in Your Hands (Minneapolis Ballroom Salon AB)
There are inherent synergies with today's fraud mitigation tools, and faster payments. This session will explore the presence of fraud in the faster payments rails, review the challenges of legacy fraud mitigation tools, illuminate the advancements of fraud mitigation tools, and how they can be adopted in practice to faster payments.
Speakers: Sumner Francisco, BNY Mellon; Lee Kyriacou, The Clearing House; Maria Moynihan, Early Warning
1:55pm-2:15pmCT: Networking Break (Minneapolis Foyer)
2:15pm-2:55pmCT: Panel Session – Faster Payments Operational Implementation (Minneapolis Ballroom Salon AB)
This panel session will explore what instant payments (i.e., RTP) looks like right now, best practices in implementation, and lessons from the market.
Speakers: Carrie Blankenship, Volante Technologies; Dean Nolan, Fifth Third Bank; Moa Agrell, Trustly; Albert Bodine, The Bankers' Bank; Cheryl Gurz, The Clearing House
3:00pm-3:30pmCT: Panel Session – Crypto in Payments Survey Results Preview (Minneapolis Ballroom Salon AB)
The Ripple team will be sharing early results from their recent Crypto in Payments survey designed to gauge industry perspectives on the use of blockchain and cryptocurrencies in payments.
Speakers: James Sellick, Ripple
3:30pm: Meeting Close (Minneapolis Ballroom Salon AB)
Return To Events
MEETING AGENDA
Wednesday, September 14
12:30pm-12:40pmCT: Opening Remarks (Minneapolis Ballroom Salon AB)
Speakers: Michael Bilski, FPC Board Chairperson; Reed Luhtanen, FPC Executive Director
12:45pm-1:20pmCT: Panel Session – CRB Use Cases for Faster Payments (Minneapolis Ballroom Salon AB)
Cannabis related businesses (CRBs) generated over $22 billion in retail sales in 2021 with an overall market in excess of $45 billion. CRBs are gaining access to traditional banking, and pending legislation such as the SAFE Banking Act and the MORES Act will drive an acceleration bank relationships. Money movement within the market for legal cannabis products must move to the traditional banking system as a matter of safety, equity and inclusion. What will this look like in the coming years? The Emerging Markets Coalition and the National Association of Cannabis Businesses have partnered to craft standards in all things money. Regulators encourage these efforts to educate and set a high bar, as evidenced in public commentary by NCUA board member and former chair Rodney Hood. What will this look like in the coming years? How can we look to this rapidly growing business for new use cases for instant payments?
Speakers: Peter Tapling, PTap Advisory; Kirsten Trusko, Emerging Markets Coalition; Adrian Bruneau, Presidio Strategic Consulting; Walt Cox, Valley Bank
1:25pm-2:10pmCT: Panel Session – Faster Payments for Financial Inclusion of the Underserved (Minneapolis Ballroom Salon AB)
A panel with Financial Inclusion Work Group members will explore the holistic approach to advance financial inclusion and drive interest in the adoption of faster payments. They will discuss how the recently published white paper on “Faster Payments and Financial Inclusion” illustrates the pain points and barriers to financial inclusion, actions, and solutions to expand, requirements of the underserved, action and solutions for issues, and considerations for faster payment stakeholders.
Speakers: Gail Hillebrand, National Consumers League; Adam Rust, National Community Reinvestment Coalition; David Dwumah, OurBanc Corporation
2:10pm-2:30pmCT: Networking Break (Minneapolis Foyer)
2:30pm-3:10pmCT: Concurrent Breakout Session – International Best Practices in Directory Models (Minneapolis Ballroom Salon C)
This panel discussion will go over the findings and key lessons learned from the Directory Models Work Group on international implementations of directories. The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. market needs to keep in mind when creating directories.
Speakers: Peter Tapling, PTap Advisory; Andrew Gómez, Lipis Advisors; Nick Denning, ICBA Bancard
2:30pm-3:10pmCT: Concurrent Breakout Session – QR Codes Aid in the Adoption of Faster Payments (Minneapolis Ballroom Salon D)
Whether initiated by the customer or merchant, QR codes have a growing number of data elements that need to be captured in the transaction, necessitating increased cryptography to ensure transaction security. In this session, FPC QR Code work group leaders address the call to action for payment industry standards needed for universal acceptance and interoperability of QR codes.
Speakers: Scott Green, SHAZAM; Abu Carri, Mastercard; Steve Wasserman, Vments
3:20pm-3:40pmCT: Special Presentation (Minneapolis Ballroom Salon AB)
3:40pm-4:20pmCT: Panel Session – Instant Payments on Consumer Demand (Minneapolis Ballroom Salon AB)
Recent Federal Reserve research provides fresh insights on consumers’ growing demand for faster payments to pay businesses and individuals. In fact, 83% report they already use digital wallets or fintech mobile apps and 62% plan to use faster payments more. This session will cover how fintechs and financial institutions can get ready to meet this demand when the FedNowSM Service launches nationwide next year. Also, check out resources on the FedNow Explorer website and FedNow pilot program.
Speakers: Connie Theien, Federal Reserve Financial Services; Gail Hillebrand, National Consumers League; Syed Ejaz, Consumer Reports; Liana Muller, U.S. Bank
6:30pmCT: Minnesota Twins Baseball Game/Evening Event, sponsored by North American Banking Company
Join us for a fun-filled networking event with fellow FPC Members watching the Minnesota Twins vs. Kansas City Royals baseball game. Bus transportation to Target Field will be provided starting at 5:00pm from the hotel lobby.
Thursday, September 15
8:00am-9:00amCT: Networking Breakfast, sponsored by Open Payment Network (St. Paul Ballroom)
Stop by the FPC Education & Awareness Work Group Showcase to learn more about the new industry resources being developed and published soon. Payments as a Lifeline (PaaL) will also be hosting a roundtable discussion on Humanitarian Aid during disasters. Looks for designated tables to join the discussion.
9:00am-9:05amCT: Day 2 Kick Off (Minneapolis Ballroom Salon AB)
9:05am-9:45amCT: Panel Session – International Faster Payments (Minneapolis Ballroom Salon AB)
This panel session will explore the current faster payments trends and lessons learned from International markets.
Speakers: Elizabeth McQuerry, Glenbrook Partners; Chris Jewell, Zepto; Joerg Richter, Equens Worldline; Carlos Corrales, Tesabiz
9:50am-10:30amCT: Panel Session – Implications and Next Steps for Irrevocability in Faster Payments (Minneapolis Ballroom Salon AB)
This panel session will explore the benefits and drawbacks of irrevocability, the implications for consumers, and best practices.
Speakers: Peter Tapling, PTap Advisory; Laura Menken, Early Warning; Gail Hillebrand, National Consumers League; Carl Slabicki, BNY Mellon
10:30am-10:45amCT: Networking Break (Minneapolis Foyer)
10:45am-11:25amCT: Concurrent Breakout Session – Central Bank Digital Currencies and Their Potential Impacts on Cross-Border Payments (Minneapolis Ballroom Salon C)
CBDCs are seen by many central banks as an opportunity to simplify and enhance the performance of cross-border payments and make their ultimate settlement available 24/7. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs. With the number of ongoing global CBDC initiatives and the publication of the new series bulletins the panel will explore the possible impacts of CBDCs on cross-border payments.
Speakers: Barry Tooker, TransactionBanker.com; Jim Cunha, Federal Reserve Bank of Boston; Andrew Haskell, BNY Mellon; Rodman Reef, Reef Carson Consulting
10:45am-11:25amCT: Concurrent Breakout Session – Real-Time Payment APIs, Global Market Practices, and Lessons Learned for the U.S. (Minneapolis Ballroom Salon D)
FPC API Work Group leaders will provide a deep dive into country-specific aspects of APIs developed to support real-time payment rails, highlighting areas of commonalities and differentiation in the global market. Focusing on “credit push” transactions, our experts will provide some guidance on the value-added functionality that U.S. stakeholders should be supporting and identify the challenges in building out the API features that are required for ubiquitous access.
Speakers: Dean Nolan, Fifth Third Bank; Moa Agrell, Trustly; Steve Wasserman, Vments
11:30am-12:30pmCT: Lunch Served (St. Paul Ballroom)
Stop by the FPC Education & Awareness Work Group Showcase to learn more about the new industry resources being developed and published soon.
12:30pm-1:10pmCT: Panel Session – Efficiency and B2B Payment Modernization (Minneapolis Ballroom Salon AB)
With the FedNowSM service coming next year, there’s no time like the present to prepare for and innovate on instant B2B payments improvements. A robust information exchange framework with common standards and protocols is a step toward enabling e-invoices and e-remittances support for instant payment messages in the United States. Join this session to learn more about exchange framework assessments and pilot programs backed by the Business Payments Coalition (BPC), Federal Reserve and industry.
Speakers: Guy Berg, Federal Reserve Bank of Minneapolis; Michael Young, Photon Commerce; Booshan Rengachari, Finzly; Jayna Bundy, Microsoft; Ashley Czajkowski, BNY Mellon
1:15pm-1:55pmCT: Panel Session – Fraud Mitigation in Practice: Putting the Power of Data in Your Hands (Minneapolis Ballroom Salon AB)
There are inherent synergies with today's fraud mitigation tools, and faster payments. This session will explore the presence of fraud in the faster payments rails, review the challenges of legacy fraud mitigation tools, illuminate the advancements of fraud mitigation tools, and how they can be adopted in practice to faster payments.
Speakers: Sumner Francisco, BNY Mellon; Lee Kyriacou, The Clearing House; Maria Moynihan, Early Warning
1:55pm-2:15pmCT: Networking Break (Minneapolis Foyer)
2:15pm-2:55pmCT: Panel Session – Faster Payments Operational Implementation (Minneapolis Ballroom Salon AB)
This panel session will explore what instant payments (i.e., RTP) looks like right now, best practices in implementation, and lessons from the market.
Speakers: Carrie Blankenship, Volante Technologies; Dean Nolan, Fifth Third Bank; Moa Agrell, Trustly; Albert Bodine, The Bankers' Bank; Cheryl Gurz, The Clearing House
3:00pm-3:30pmCT: Panel Session – Crypto in Payments Survey Results Preview (Minneapolis Ballroom Salon AB)
The Ripple team will be sharing early results from their recent Crypto in Payments survey designed to gauge industry perspectives on the use of blockchain and cryptocurrencies in payments.
Speakers: James Sellick, Ripple
3:30pm: Meeting Close (Minneapolis Ballroom Salon AB)
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