Highlights
Federal Reserve Previews Fraud Classification Model
The Fraud Definitions Work Group led by the Federal Reserve has completed its work on a new fraud classification model that enables all payments stakeholders to classify fraud in a simple and similar manner. The model was previewed at a virtual event held by Nacha earlier this month, and will be published this spring.
New Community Member Spotlight: Brian Peters
Brian Peters’ work is guided by a core tenet: Technological transformation makes financial services more accessible, safe and affordable for everyone. “How do we make people’s lives easier?” is the question that drives his waking hours. Learn about his work and perspectives as the Executive Director of Financial Innovation Now.
Recent Announcements
Importance of Balancing Safety and Speed in Payments Highlighted in Take on Payments Blog
A recent post on the Take on Payments blog, sponsored by the Federal Reserve Bank of Atlanta’s Retail Payments Risk Forum, discusses the importance of balancing payments security with the growing push for faster payments. The post points to a recent survey of consumers noting that security and privacy were the most important characteristics of a payment instrument. Read more on Take on Payments (Off-site).
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In The News – Top Headlines
ACI Blog – April 2020
TCH RTP and FedNow: What’s Next for U.S. Immediate Payments? (Off-site)
PaymentsSource – 4/6/2020
Fed moves will boost payments’ digital migration (Off-site)
Digital Transactions – 4/1/2020
U.S. Real-Time Payment Volume Could Top 4.2 Billion by 2024, ACI Report Finds (Off-site)
PaymentsSource – 3/30/2020
Real-time payments are here. And many banks aren’t ready. (Off-site)
Forbes – 3/24/2020
This One Problem Stifles Innovation At Big Companies (Off-site)
View more articles on our News page.
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