Fraud Definitions Work Group: January Meeting Summary
The Fraud Definitions Work Group convened for its final in-person meeting at the Federal Reserve Bank of Atlanta on Jan. 29 and 30.
Celebrating Five Years of Progress on the Path to Payments Improvement
This January marked the five year anniversary of the release of the Strategies for Improving the U.S. Payment System (PDF) paper. Developed in consultation with industry stakeholders, the paper established our collaborative initiative to improve the payment system and has underpinned many of the Federal Reserve’s efforts to date.
Andrew Boyajian: International Payments Expert Focused On Secure Technology
According to payments expert Andrew Boyajian, the days of not knowing the ‘where’ and ‘when’ of an international payment in its transaction journey are numbered.
As head of banking at Transferwise North America, Boyajian has peeled back and understood the larger and complex scale of payments and technological investments needed to make transactions possible.
New Year, New Trends in U.S. Payments
What’s happening in U.S. payments these days? Ask the Federal Reserve. In its role as the central bank of the United States, the Fed regularly conducts studies to help policymakers, the industry and the public better understand – and improve – the U.S. payment system. The Fed recently provided new insights on payments methods and trends by publishing not one, not two, but three bellwether studies in December 2019. Here’s a roundup of this research.
Go Global: A Review of Cross-Border Payments Webinar and Survey
The Federal Reserve recently conducted a review of the current cross-border payments landscape to better understand developments and ongoing challenges. Key findings were discussed on a January webinar entitled Go Global: A Review of Progress and Pain in Cross-Border Payments (Off-site), where nearly 700 highly engaged stakeholders attended, demonstrating rich interest in this topic.
Federal Reserve to Support Same Day ACH with Extended Operating Hours
In response to industry comments on its Federal Register notice (Off-site), the Board of Governors of the Federal Reserve System has approved modifications to the Federal Reserve Banks’ FedACH® Service, National Settlement Service (NSS) and Fedwire® Funds Service to help facilitate adoption of a later Same Day automated clearing house …
Top Reasons Why an e-Invoice Interoperability Framework is Important
On Dec. 5, industry experts joined the Business Payments Coalition’s (BPC) webinar (Off-site) which outlines the concept of an e-Invoice interoperability framework, market challenges and benefits of addressing them and a path forward for the BPC work assessing U.S. market needs. Watch the webinar to learn more about how an …
Al Pascual: Getting Ahead of Financial Crime Through Proactive Engagement
Al Pascual has a passion for righting wrongs, so he chose banking and payments fraud as his field of practice. Yet, it’s something more than a professional interest. It’s in his blood. Growing up as the son of two NYPD detectives, law enforcement was always a topic of conversation at …