Engaging with payments professionals from across the industry during spring events, representatives from Federal Reserve Financial Services (FRFS) had opportunities to better understand and collaborate on timely and trending topics, such as fraud trends, data sharing and mitigation approaches, the growing momentum of instant payments adoption, advancing interbank connectivity using industry standards, and more.
Explore key insights and themes from several spring 2025 conferences.
Nacha® Smarter Faster Payments® 2025
The Nacha Smarter Faster Payments 2025 conference (Off-site) held this April in New Orleans stood out as the largest spring event for payments professionals. This conference brought together a diverse mix of attendees — from banks and credit unions to fintech providers and core processors — to explore the latest developments in faster payments.
FRFS representatives actively contributed to these conversations through multiple panel discussions, sessions and topical talks on a range of topics, including fraud detection (such as artificial intelligence-based solutions) and the importance of interoperability across payment channels, including the FedNow Service, The Clearing House’s (TCH) RTP® Network and ACH. Sessions also focused on advancing the use of ISO® 20222 to enable richer data and greater automation, as well as challenges and opportunities in building a faster, more secure payments ecosystem.
Fraud was a standout topic. Industry leaders shared recent fraud trends, including instant payments, and emphasized the need for collaboration, education and smarter detection tools. FRFS experts contributed to conversations about consumer protection and how behavioral monitoring and real-time alerts can support early intervention.
Key Highlights and Emerging Themes from Smarter Faster Payments:
- Fraud Prevention and Data Sharing: Industry participants emphasized the need for faster fraud detection, improved information sharing and tools powered by artificial intelligence (AI) and machine learning. Check fraud remains a lingering concern despite fewer checks written and ongoing advances in fraud detection. The Federal Reserve’s FraudClassifierSM model was highlighted as a key development in fraud detection and reporting, and is being adopted in additional countries, helping financial institutions better categorize and respond to different types of fraud. The FraudClassifier model can be paired with the ScamClassifierSM model to better identify and categorize different types of fraud scenarios to mitigate losses and improve customer outcomes.
- Tech-Driven Risk Controls: Sessions explored how application programming interfaces (APIs) are being leveraged to improve compliance and enhance customer control. Open banking models were examined especially in relation to customer-permissioned data sharing, sparking discussions about privacy, trust and the regulatory environment.
- Instant Payments and TCH’s RTP Network: Conference attendees heard about adoption momentum as new use cases are being explored in both the private and public sectors. Request for Payment (RFP) capabilities garnered significant attention as financial institutions look to deliver real-time solutions.
- Artificial Intelligence (AI): AI, APIs and open banking were the most talked-about emerging trends in the payment space. The opportunities for AI include fraud prevention, new product capabilities, developer tools and more.
- ACH, Wire and Cash Trends: ACH continues to experience steady growth through innovation in messaging and fraud controls. Wire transfers showed strong year-over-year growth among businesses. Use of cash and checks continues to fluctuate, as debate is ongoing about what solutions may eventually take over checks’ remaining use cases.
The FRFS booth in the exhibit hall allowed attendees to learn more about timely FRFS payments innovations and upcoming support tools. In addition to FRFS panelist presentations throughout the conference, FRFS hosted two Topical Talk sessions on exploring the use cases for instant payments and harnessing the power of ISO 20022.
Across all sessions, the Fed emphasized transparency, accessibility and partnership as essential pillars for moving the U.S. payment system forward.
Independent Community Bankers of America (ICBA) LIVE
In March, FRFS representatives participated ICBA LIVE (Off-site) in Nashville, Tennessee. This annual conference of the Independent Community Bankers of America brought together community bankers, core service providers, fintechs and others to address key issues facing community banks and explore strategies for advocacy, growth and innovation.
Attendees were encouraged to attend two FRFS “Meet the Expert” sessions:
- Staci Shatsoff discussed combatting fraud in the current payments landscape, highlighting common fraud scenarios, emerging trends and gaps in prevention tactics.
- Erik Van Bramer and Joni Hopkins led a fireside chat on lessons learned from FedNow Service adopters, including popular use cases and how to both productize and monetize instant payments.
FRFS also had a booth in the exhibit hall to provide a hub for continued conversations on these topics and the Fed’s payment system improvement efforts.
America’s Credit Unions Governmental Affairs Conference (GAC)
The annual America’s Credit Unions Governmental Affairs Conference (GAC) (Off-site) — formerly named the Credit Union National Association Governmental Affairs Conference — was held in Washington, D.C. in March 2025. GAC is the largest annual gathering of credit union advocates and brings leaders together with federal policymakers to network and advocate for policies, strength and well-being of credit unions, as well as innovation in financial services more broadly.
This year’s event theme was “Together We Move – Moving with purpose. Moving with passion. Moving with strength.” FRFS representatives shared updates on ongoing enhancements and encouraged financial institutions to leverage new resources as they prepare to implement instant payments. Discussions centered on operational readiness and the increasing relevance of instant payments for member-focused institutions. Attendees were particularly interested in learning about how the Fed is supporting fraud mitigation efforts, transfer use cases, evolving with new tools and capabilities, and preparing for ISO 20022 (Off-site) readiness to enable a more secure, efficient payments environment.
Looking Ahead
These spring conferences underscored the industry’s collective commitment to advancing the U.S. payment system. Federal Reserve Financial Services remains dedicated to engaging with stakeholders, sharing insights and collaborating on the future of payments.
Stay Connected
Explore upcoming events and FRFS participation on our Industry Events page (Off-site).
Note
The Federal Reserve Banks do not sponsor or endorse any of the non-Federal Reserve Bank-related products, parties or entities mentioned in this publication. Smarter Faster Payments is a registered trademark of Nacha – The Electronic Payments Association. RTP is a registered trademark of The Clearing House Payments Company L.L.C.