Lessons and Implications of Increasing Payments Speed - February 28, 2017

February 28, 2017

Federal Reserve Bank of Atlanta
Retail Payments Risk Forum
1000 Peachtree St. NE, Atlanta, GA 30309

The Federal Reserve Bank of Atlanta and the United Kingdom's Department for International Trade hosted a summit to promote discussion on approaches to faster payments implementation in the United Kingdom and United States. The summit format provided insight to payments industry stakeholders into what opportunities or challenges could be facing community financial institutions and the markets they serve. The event has been documented with a background paper.

10 a.m. Welcome and agenda review
Marie Gooding, First Vice President and Chief Operating Officer, Federal Reserve Bank of Atlanta
10:15 Opening remarks
Benedict Wagner-Rundell, First Secretary (Economic), Foreign and Commonwealth Office, British Embassy
10:30 Community Financial Institution Panel: Implementing Faster Payments
Becky Clements, Head of Industry Engagement and Payment Change, Metro Bank
Steve Kenneally, Vice President Payments and Cybersecurity, American Bankers Association
William Schoch, President and Chief Executive Officer, WesPay
Bob Steen, President and Chief Executive Officer, Bridge Community Bank
U.K. and U.S. financial institutions discuss their experience implementing faster payments in their respective regions. In addition to looking at technical considerations, panelists discuss effects on other payments systems and their customer bases.
11:45 Lunch
1:15 p.m. In Pursuit of a Better Payments System: An Update from the Faster Payments Task Force
Connie Theien, Senior Vice President and Director, Payments Industry Relations, Federal Reserve System
Gordon Werkema, Payments Strategy Director, Federal Reserve System
1:45 Legal and Regulatory Considerations for Faster Payments
Richard Fraher, Vice President and Counsel to the Retail Payments Office, Federal Reserve Bank of Atlanta
Kathleen Oldenborg, Office of the Comptroller of the Currency
Jonathan Rogers, Partner, Taylor Wessing
Deborah Shaw, Senior Technology Specialist, Federal Deposit Insurance Corporation (FDIC)
Paul Smith, Head of Policy, U.K. Payment Systems Regulator
U.K. and U.S. regulators discuss the structure of each regulatory body along with strategies and actions taken in consideration of faster payments.
2:45 Break
3:00 Same-Day ACH: Impacts and Implications
Michael Herd, Senior Managing Director, NACHA
Cheryl Venable, Executive Vice President, Retail Payments Office, Federal Reserve Bank of Atlanta
3:45 Executive roundtable: Connecting Financial Institutions Faster
George Evers, IPS Director, VocaLink
Thomas A. Layman, President, Global Vision Group
Steve Ledford, Senior Vice President of Product and Strategy, The Clearing House
Elena Whisler, Vice President Product Management and Strategy, FIS Global
Processors and operators discuss different faster payment schemes, how changing infrastructures affect all levels of participants, and what changes are ahead
4:45 Closing Remarks
Marie Gooding
5:00 Reception