Read summaries on all the work groups and stay up to date on all the great progress underway by the work groups. Additional work group summaries and updates will be uploaded soon. Interested in joining a Work Group? Sign up here. All members are welcome.
Work Group Chair: Glenn Wheeler
Work Group Vice Chair: Steve Wasserman
September Update: The Group is putting the finishing touches on the webpages for the Faster Payments FAQs Repository, an interactive feature within the Faster Payments Knowledge Center, scheduled to launch by Q4. Additionally, the Group has begun a new initiative to expand the collection of faster payments use case stories and offer them in a variety of formats. This effort includes conducting interviews and engaging members to enrich the repository, ultimately providing the industry with more detailed and diverse use cases.
Download the CharterWork Group Chair: Lee Kyriacou
Work Group Vice Chair: TBD
September Update: The Group has completed a draft report titled, “International Practices in Mitigating Faster Payments Fraud,” exploring anti-fraud controls for faster payments. The report highlights key mitigation strategies, common fraud typologies, and examples of preventive measures implemented in various countries. The Group will also present a session, “Industry Collaboration to Define and Classify Scams,” at the Fall Meeting.
Work Group Chair: Peter Tapling
Work Group Vice Chair: Lou Grilli
September Update: The Group is making steady progress on its upcoming deliverable, “Value and Benefits of an Open Directory.” As part of this initiative, the group is developing Use Cases that demonstrate the advantages of directories, with a focus on multi-level directory models and current market practices. These insights will be consolidated into a comprehensive industry resource. The group is also preparing to present its session, “Pick A Side: Do We Need Directories to Drive Faster Payments Adoption?” at the upcoming Fall Meeting.
Work Group Chair: Mark Majeske
Work Group Vice Chair: Jonathan Holland
September Update: The Group recently published dual reports titled, “How to ISO 20022” and "ISO 20022: Advantages in the Format & Structure for Instant Payments." These reports explore the essential capabilities and global benefits of adopting this framework for faster payments transactions. The Group is also presenting the session, “The Path to Enabling Cross-Border Real-Time Payments,” at the Fall Member Meeting.
Work Group Chair: Keith Riddle
Work Group Vice Chair: Carolyn Serejo Cypriano
September Update: The Group is making great progress on the draft of its next deliverable, a paper on the topic “QR Code Payments in Supermarkets: Usability Considerations and Potential Gaps.” Additionally, the Group is currently conducting a survey to capture FPC member perspectives on the use of QR Codes in faster payments.
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Work Group Chair: Josh Karoly
Work Group Vice Chair: Andrew Gomez
September Update: The Group has initiated outreach to industry stakeholders following the release of its recent publication, “Navigating Instant Recurring Payments.” This effort aims to assess the current adoption of real-time recurring payment practices, with a focus on standing approvals, notifications, and cancellations. To further this initiative, the Group will conduct interviews with select financial institutions to gather insights on the application of the best practices outlined in the publication.
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Work Group Chair: Moa Agrell
Work Group Vice Chair: TBD
September Update: The Group has outlined its approach for an upcoming Hackathon project designed to test and refine API best practices and core functions. To move this initiative forward, a Hackathon subgroup has been formed to further develop the strategy, gather feedback, create a checklist, and oversee key action items. The Group is also preparing a list of questions for the developers who will support the Hackathon’s execution.
Work Group Chair: Anthony Serio
Work Group Vice Chair: Mary Mumper-Morrison
September Update: The Group has established two new subgroups: one dedicated to Access to Technology, and the other a collaborative effort with the Digital Assets Work Group (DAWG). In addition, the Group will be presenting a session titled, “Financial Inclusion and Cross-Border Payments: Perspectives, Opportunities, and Challenges,” at the upcoming Fall Member Meeting.
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Work Group Chair: Bo Berg
Work Group Vice Chair: Kevin Barr
September Update: The Group received feedback on its fifth blog, “The Role of Digital Ledger Technology in Core Banking Functions,” from the Operations Committee and will next advance it to the FPC Board for review. The Group continues to make progress on its sixth blog, which will focus on digital wallets.
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Work Group Chair: Miriam Sheril
Work Group Vice Chair: Tony Cook
September Update: The Group recently published its latest deliverable, “Operational Considerations for Receiving Instant Payments.” The guideline dives deep into the practical considerations FIs must address to successfully implement instant payments. The Group is also set to present a session titled, “Instant Payment Send Adoption Playbook – Operational Considerations for FIs,” at the Fall Member Meeting.
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Work Group Chair: Dean Nolan
Work Group Vice Chair: Stephany Kirkpatrick
September Update: *Open Call for Participation* Launching in November, this new Work Group will tackle critical challenges and identify best practices to streamline B2B instant payments. We’re pleased to announce that Dean Nolan of SRM has been appointed Chair and Stephany Kirkpatrick of Orum has been appointed Vice Chair of the work group.
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Are you interested in having a voice on issues that currently stand in the way of achieving faster payments ubiquity in the United States? The FPC is currently recruiting members for 11 work groups:
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Develops an educational and awareness program to foster better understanding of faster payments and confidence among providers and users, ultimately driving adoption and transaction volumes, toward the industry goal of ubiquity.
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Works with existing fraud sharing forums to identify enhancements that will make processes more efficient and effective, with an aim towards fostering better user experiences, bolstering confidence and trust in faster payments.
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