The Federal Reserve Banks were a proud contributor at the PAYMENTS 2018 (Off-site) conference held in San Diego April 29 through May 2. We look forward to this event every year and this year’s theme of Fast. Secure. Frictionless did not disappoint. The event brought thousands of payments system stakeholders together through captivating keynote speeches, specialized educational opportunities and networking events.
Sessions we presented
Several Federal Reserve Bank staff had the privilege of contributing to the conference theme and presenting in different sessions throughout the conference.
- Federal Reserve Town Hall: This session featured representatives from various areas of the Federal Reserve System discussing the latest on efforts to improve our services and to further support improvements in the broader U.S. payments system. The panelists also opened the floor for the audience to ask their burning payments questions.
- Same Day ACH: A Glimpse into the Future: Vice President Nell Campbell-Drake participated on a panel discussion about potential enhancements to Same Day ACH based on feedback received during the implementation.
- Strategies to Advance U.S. Payment Safety, Security and Resiliency: First Vice President Ken Montgomery moderated an update on the key learnings of the Secure Payments Task Force (Off-site) as well as the planned next steps to improve payment security.
- Update on the U.S. Path to Real-Time Payments: Members of the Governance Framework Formation Team (GFFT), including Faster Payments Strategy Leader Sean Rodriguez as moderator, discussed their draft framework to developing an industry-led governance framework (Off-site).
- Real-Life Improvements in Corporate Electronic Payments: Vice President Guy Berg shared how corporations can reduce the complexity of electronic payments and cash reporting for domestic and international payments by implementing the ISO® 20022 payment messages standard.
Fed services that we highlighted
The Federal Reserve booth was a great opportunity for customers to visit with us and speak with account executives about a range of featured services, including the FedPayments® Reporter Service, FedACH Risk® Management Services and the FedTransaction Analyzer® tool. With these services, customers can benefit from timelier final payments, more efficient reporting and better risk monitoring of Automated Clearing House (ACH) and wire payments.
Additionally, we provided information on the Fed’s role with faster payments and upcoming ISO 20022 standards implementation.
Tips shared by our account executives
When it comes to the Fed’s products and services, our account executives have an in-depth understanding of how they can benefit your organization. Check out these tips from our account executives:
- You can utilize the FedACH Risk Origination Monitoring Service to help ensure staff do not send erroneous files. This service is particularly helpful if you are outsourcing your ACH origination and need to monitor that risk.
- The FedTransaction Analyzer tool has recently upgraded its report functionality. This tool is especially helpful for post-merger research since historical Fedwire® data is available for all RTNs in an account family.
Account executives in attendance
The Federal Reserve Banks have been active participants with PAYMENTS for many years, including exhibiting and speaking sessions. Many of our staff from across the country attended this year, including account executives, industry relationship representatives and executive leadership. In the picture below, Marketing Communications Professional Lindsey Pannell and Account Executives Susan Bivens and Richard Watada (shown left to right) stand at the ready to meet with customers in the Federal Reserve booth. Our account executives are always happy to speak with customers and hope to see you at a future event.
Action Item:Look for future Conference Connection articles in Fed360, and check out the Industry Events page for upcoming events that our Fed account executives will be attending.
The Federal Reserve Banks do not sponsor or endorse any of the non-Federal Reserve Bank-related products, parties or entities discussed in this publication.
“ISO” is a registered service mark of the International Organization for Standardization.