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Conference Connection: Talking about the future of payments at Sibos 2019 and Money20/20

Education and Resources | December 2, 2019 |

This fall, the Federal Reserve exhibited at Sibos 2019 (Off-site) in London, England and Money20/20 (Off-site) in Las Vegas, Nevada. Both conferences are considered top events for the financial services industry to gather and collaborate on the latest payments industry developments and move payments into the future.

Sibos 2019

The Sibos conference brings together over 8,000 business leaders from around the world and showcases hundreds of speakers, sessions, nearly 200 exhibitors and multiple networking events. The conference has a vast international audience, and its location moves across the globe from year to year. At this year’s conference, the Federal Reserve Banks hosted a roundtable event to speak to international attendees about various trends in the payments landscape.

Money20/20

Since its formation in 2012, Money20/20 has grown into a global event for the financial services and payments industry. Payments, fintech and financial services all come together to explore the disruptive ways consumers and businesses manage, spend and borrow money. The agenda includes dynamic speakers, innovators and disruptors to inspire and drive change in the future of money. The Federal Reserve hosted three roundtable discussions with industry participants. The topics included the Federal Reserve’s recent FedNowSM Service announcement, payments security and cross-border payments discussions.

Payments topics the Fed highlighted

At both events, Fed representatives spoke to attendees about the efforts the Federal Reserve is working on to improve the future of the U.S. payment system. Topics included:

  • Fed representatives had the opportunity to engage industry leaders in discussions about the Federal Reserve’s announcement that the Reserve Banks will develop a new real-time gross settlement service. The FedNow Service will enable financial institutions to deliver faster end-to-end payments to their customers.
  • The Fall 2019 Progress Report (Off-site) was published in October. The report includes updates on important work that was outlined in the Strategies for Improving the U.S. Payments System (Off-site) paper and next steps for the five strategies – speed, security, collaboration, efficiency and international payments.
  • Fed representatives also spoke to conference attendees about how to engage in the Federal Reserve’s next steps in payments security (Off-site) and cross-border payments.
  • Attendees were encouraged to engage in the FedPayments Improvement Community (Off-site) – members can make their voices heard on a variety of payments improvement initiatives.

Action Item:

Look for future Conference Connection articles in Fed360®, and check on the Industry Events page for upcoming events that our Fed representatives will be attending.

Note

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.

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