Tim Boike, Vice President, Federal Reserve Bank of Chicago, provides updates on the Fed’s collaborative efforts with the payments industry on the FraudClassifier model.
To support the development, testing and adoption of the FedNow(SM) Service, the Federal Reserve has announced industry participants in the FedNow Pilot Program.
Despite a tumultuous year, progress and innovation in the payments industry persists. According to the 2nd annual Faster Payments Barometer, nearly 4 in 5 respondents are either accelerating or maintaining faster payments implementation plans.
Rapid acceleration is underway in the digital payments space. Rachel Siegel, officer at The Pew Charitable Trusts, is working to help ensure equal access to financial services.
A Federal Reserve-convened focus group of fraud experts is on track to publish an industry-recommended definition of synthetic identity fraud in early 2021.
Faster payments, including instant payments, are quickly gaining popularity around the world. And here in the United States, the topic is at the forefront of the payments industry. Now is the time to start learning more about this important and evolving area for the future of payments.
Improving cross-border payments has been challenging on a global scale, but the Stage 3 Roadmap published by the Financial Stability Board continues to help pave the way for systemic improvements.
Rebeca Romero Rainey has a personal connection to community banks and highlights their importance to communities across the country.
Introduced by the Federal Reserve in June, the FraudClassifier(SM) model provides an intuitive approach to classifying fraud. Explore our video series below to hear from work group members and the Fed team who helped create the model.
In a recent paper, the Federal Reserve looked at opportunities to enhance economic mobility and resilience for those without access to digital payments, especially those relying on cash as a primary payment method and without access to a traditional bank account.