Highlights
Taking Action Against Synthetic Identity Fraud
The Federal Reserve engaged experts from across the payments ecosystem to explore how the industry-recommended definition of synthetic identity fraud is being used to help mitigate this type of fraud.
B2B Payments Modernization: Transformation Brings Benefits
As technology progresses, digital processes are becoming more prevalent in many aspects of everyday life, including the way purchases are made. Learn about the benefits that digital business-to-business (B2B) payments offer, including lower costs, better cash management, risk mitigation and improved automation of business processes.
Recent Announcements
Progress Update: FedNow Pilot Program
The FedNowSM Pilot Program has seen significant collaboration and engagement from 120 participating financial institutions and processors since its launch in early 2021. Read our update (Off-site) to learn about what pilot program participants have been working on, including the FedNow Service Readiness Guide.
FSB Seeks Public Consultation on Cross-Border Targets
The Financial Stability Board recently proposed quantitative targets to address key challenges in cross-border payments and is currently seeking public feedback on the recommendations. Read more about the scope of the work and how you can contribute to efficiencies in the cross-border payments ecosystem.
Sign Up to Participate in the E-invoice Exchange Market Pilot
The Business Payments Coalition (BPC), with support from the Federal Reserve, is accepting expressions of interest to join the E-invoice Exchange Market Pilot through July 13. Pilot participants will build, test and bring to market a virtual exchange network that will enable businesses of all kinds to exchange electronic invoices with one another.
Your Voice Matters – Stay Engaged
Join FedPayments Improvement on Social Media
Stay up to date on the latest news, initiatives and engagement opportunities — connect with us on Twitter (Off-site) and LinkedIn (Off-site)!
In The News – Top Headlines
American Banker – 6/2/21
How Fed aims to help banks spot synthetic identity fraud (Off-site)
Reuters – 6/2/21
U.S. Fed-led group on synthetic identity fraud agrees on common definition (Off-site)
American Banker – 6/1/21
Fed proposes rules for funds transfers on faster payments platform (Off-site)
View more articles on our News page on FedPaymentsImprovment.org.