The Federal Reserve Banks have been collaborating with several other organizations known as the Stakeholder Group to prepare for the adoption of the ISO® 20022 standard for domestic and international wire payments. ISO 20022 is a robust financial messaging standard that supports the end-to-end flow of payment information from the …
We are pleased to announce the selection of McKinsey & Company to support Faster Payments Task Force efforts this year to assess faster payments solution proposals from various providers across the U.S. payments industry. The Federal Reserve established the 331-member Faster Payments Task Force in 2015 to support a broader …
We are hosting two webinars that discuss how industry collaboration over the last year has led to substantial progress on the initiatives outlined in Strategies for Improving the U.S. Payment System (PDF). The first webinar will give you an overview of the industry progress made over the past year, while …
Last week, we celebrated the first anniversary of Strategies for Improving the U.S. Payment System (PDF), a multi-faceted plan to enhance the speed, safety and efficiency of the U.S. payment system. Over the past year, we have seen the strategies and tactics included in the plan come to life through …
You may notice some changes to our site navigation today. We made updates to better align information you need to stay engaged with our progress toward the five desired outcomes outlined in the Strategies for Improving the U.S. Payment System (PDF) paper. Our navigation now includes sections around Faster Payments, …
In our previous blog, we had a call-out asking for payment innovators to share with us innovations for making payments faster. Several of you let us know you had something in the works! Now is your chance to display your capabilities to the Faster Payments Task Force and your industry …
Are you one of or do you know the best and brightest working on capabilities aimed to make payments faster? Capabilities that not only improve speed but prove that faster really is better and can be secure? The Faster Payments Task Force is interested in learning about your cutting-edge innovations …
As outlined in the Strategies for Improving the U.S. Payment System (PDF), the Faster Payments Task Force was established earlier this summer with the objective of identifying and evaluating approach(es) for implementing a safe, ubiquitous, faster payments capability within the United States. The Faster Payments Task Force spent the last several …
We are pleased to announce that Federal Reserve Bank of Chicago Senior Vice President Todd Aadland has been appointed as the Payments Security Strategy Leader. In his new role, Todd’s responsibilities will include chairing the Secure Payments Task Force and leading the Federal Reserve System’s activities aimed at addressing fraud …
Today the Federal Reserve announced the appointment of Sean Rodriguez as the new Faster Payments Strategy Leader. Sean, a senior vice president at the Federal Reserve Bank of Chicago, will be tasked with leading activities aimed at identifying effective approaches for implementing a safe, ubiquitous, faster payments capability in the …