Engage for Change!

Last week we released our much anticipated Strategies for Improving the U.S. Payment System (PDF). One of the five desired outcomes outlined in the paper, collaboration, is about the need for a broad array of payment participants to collectively identify approaches for payment system improvement and make material progress in implementing them.

We’ve already engaged with the industry on this initiative in a variety of ways – from hosting in-person town halls at Federal Reserve Banks across the country, to speaking at hundreds of industry-sponsored events and conferences, to issuing our 2013 Payment System Improvement – Public Consultation Paper (PDF). We’ve been encouraged in our efforts by the industry and made great strides so far through these engagement and collaboration tactics. We want to keep this momentum going in 2015 and beyond, and request your advice on how to proceed.

The recent strategy paper noted some of engagement strategies we will pursue moving forward, including the establishment of two task forces, a faster payments task force and a payment security task force. In the coming weeks, we will share details on how you can participate in these groups.

Beyond the task forces, which may demand more time than many payment stakeholders are able to commit, we want to create opportunities for all stakeholders to provide input and stay informed on payment system improvement activities. We’re looking to build a community of stakeholders who share our commitment to payment system improvement. By subscribing to the FedPayments Improvement Community, you will receive alerts when new information is available, invitations to virtual and in-person events, and requests for input on the work of the task forces and other initiatives to be undertaken. We hope to get your insights through this blog and our newly instituted presence on Twitter (Off-site) or through submit a question or comment (Off-site) online. We will continue to host roundtables and town halls, speak at industry events and participate in trade groups.

There are multitudes of ways we can connect with you and hear your voice, and we want to make sure we go about this in a way that suits your needs. So let us know:

• Which industry-hosted conferences/events have you found to be most beneficial?
• Which trade organizations should we engage in these efforts?
• How else can we keep you informed and involved?

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