Federal Reserve Financial Services (FRFS) frequently attends industry conferences to engage with the ecosystem on advancing the speed, security and efficiency of payments.
This year was no exception, as FRFS representatives highlighted timely topics and the latest trends – strong momentum of instant payments adoption, fraud and scams mitigation efforts, the benefits of payment standards and ISO® 20022, and moving money to drive financial equity and inclusion. Here’s what happened at key conferences and events most recently this fall.
Money20/20
Attendees from across the global landscape convened at Money20/20, including financial institutions, tech companies, startups, retail, fintech, financial services companies and policy influencers.
FRFS representatives enjoyed connecting with these conference-goers to discuss FedNow® Service adoption momentum, highlight the strong interest in Request for Payment (RFP) functionality, and advise on how fintechs can start conversations with financial institutions about how to access the service.
FRFS leaders also took to the stage in seven well-attended sessions, including panel discussions on next-gen fraud prevention, instant payment use cases, financial equity and inclusion, and opportunities offered by the ISO 20022 message format.
New for the Fed’s exhibit hall booth at Money20/20 was an interactive “use case race”, where attendees voted for the industry segment they believe will dominate instant payments use cases in 2025. The four options presented were healthcare, insurance, transportation and merchant point-of-sale. Insurance was the most popular use case segment among voting participants.
Association for Financial Professionals’ AFP 2024
Roughly 7,000 corporate finance professionals attended AFP 2024 to network and learn about the latest in payments. To kick off the conference, Dan DeLuca, head of payment product strategy for FRFS, spoke about the ISO 20022 standard, noting how corporate treasurers can take proactive steps to initiate discussions with their banking partners to ensure alignment and readiness for future implementation.
Payment security and fraud risk are often top of mind, where trends in check and ACH fraud and mitigation for all forms were common drivers of conversation during the conference. FRFS representatives also spoke with AFP attendees on how the FedNow Service drives use case innovation. Many of these conversations focused on learning more about same-day payroll, business-to-business (B2B) money movement, insurance payouts and public sector transactions, as well as how corporate treasurers can encourage their financial institutions to connect to the FedNow Service.
Chicago Payments Symposium
This year’s Chicago Payments Symposium (Off-site) proved once again to be a leading forum for thought leaders from across the ecosystem. The 2024 program focused on three key industry themes – innovation, security and adaptability. Payments leaders gathered in person and virtually at the Federal Reserve Bank of Chicago to explore current and evolving trends in instant payments, global payments, digital currencies, security and information sharing. Read more about the event here.
Additional Events
FRFS representatives had an opportunity to engage at several other industry conferences this season, including the Fiserv Forum (Off-site), MAG Payments Conference (Off-site), America’s Credit Unions Operations & Member Experience Council and Technology Council Conference (Off-site) and ABA Annual Convention (Off-site).
Stay up to date on upcoming live and virtual events featuring FRFS speakers by visiting our Industry Engagements (Off-site) page.
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.