December 2021 Pulse Newsletter - FedPayments Improvement

Highlights

A finger interacting with a blue screen with a world map.

Addressing Challenges of Cross-Border Payments

In its most recent report, the Financial Stability Board released quantitative targets for its Roadmap for Enhancing Cross-Border payments. These targets measure the effectiveness of efforts underway to address low speed, high costs and limited transparency, and access in cross-border payments. Read a summary of each target across wholesale, retail and remittance payments.

Straight-Through Processing for B2B Payments

Straight-through processing yields multiple benefits for businesses and alleviates the pain points that result from manual business-to-business (B2B) payment processes. Learn more about the benefits in a recent blog article.

Recent Announcements

Join the FedNow^SM Service Provider Showcase

The FedNow Service Provider Showcase is now open for submissions! Service providers in the FedNow Community can submit materials to show how their offerings will help financial institutions and end users implement the FedNow Service. Materials submitted by Wednesday, Jan. 12 will be included in the official launch of the showcase and the Federal Reserve’s promotional efforts to the broader industry. Read submission guidelines and eligibility criteria (Off-site).

Fight Fraud with the FraudClassifier^SM Model

The FraudClassifier model was released in June 2020 to help organizations speak the same language and obtain a holistic picture of fraud involving payments. Watch this video for a comprehensive overview of the model, including a step-by-step walk-through of its classification paths and supporting definitions.