In October, the Federal Reserve exhibited at Sibos 2018 (Off-site) in Sydney, Australia and Money20/20 (Off-site) in Las Vegas, Nevada. Both conferences are considered top events for the financial services industry to gather, share the latest payments industry developments and propel payments into the future.
Approximately 8,000 business leaders, decision makers and topic experts from various financial institutions, market infrastructures, corporations and technology partners attend the annual Sibos conference. Between the hundreds of speakers, sessions, nearly 200 exhibitors and multiple networking events, Sibos is an excellent place to build networks and help shape the future of payments. The conference has a vast international audience, and its location moves across the globe from year to year. Besides payments topics, Fed representatives also spoke to attendees about various financial services that the Fed can provide.
Since its inaugural event in 2012, Money20/20 has gained exponential growth and is now a premier 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.
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:
- The Board of Governors of the Federal Reserve System released a Federal Register Notice (Off-site) announced by Governor Lael Brainard on October 3. The Notice requests public comment on actions the Federal Reserve could take to facilitate real-time interbank settlement of faster payments.
- The Fall 2018 Progress Report (Off-site) was also 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).
- 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, including two new areas of interest, Automatic Clearing House (ACH) and wire fraud definitions and remote payments fraud.
Look for future Conference Connection articles in Fed360SM, and check on the Industry Events page for upcoming events that our Fed representatives 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.