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2023 Program

Accelerating Innovation and Inclusion in Payment Networks

Times listed are in Central Time

Wednesday, Oct. 4, 2023

Time Events
8:30 – 9:30 a.m. Breakfast
9:30 – 10:00 a.m. Symposium Opening Remarks: Austan D. Goolsbee, President & Chief Executive Officer, Federal Reserve Bank of Chicago
10:00 a.m. – 11:30 a.m. Panel: Global Payments
The industry has not yet resolved many of the pain points for international payments, including higher costs and lack of speed and transparency as compared with domestic payments. While the Financial Stability Board set quantitative global targets in 2021 to encourage stakeholders to help address these pain points, there is much to be done in the U.S. and other countries to achieve these goals. This session will discuss successful cross-border payment improvements and lessons learned that can be applied more broadly.

  • Moderator: Melissa Tuozzolo, Global Head of Client Service, Global Payments Solutions, HSBC
  • Archie Hesse, Chief Executive Officer, Ghana Interbank Payment & Settlement Systems (Presentation (PDF))
  • Thomas Lammer, Deputy Head of the Committee on Payments and Market Infrastructures, Bank for International Settlements (Presentation (PDF))
  • Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore
  • Sunayna Tuteja, Chief Innovation Officer, Federal Reserve System
  • Tom Zschach, Chief Innovation Officer, SWIFT (Presentation (PDF))
11:30 a.m. – 12:00 p.m. Lunch
12:00 – 1:15 p.m.

Luncheon Keynote: Forces & Factors Shaping Financial Services in 2030
Amy Webb, Founder and Chief Executive Officer, Future Today Institute

Introduction by Mark Gould, Chief Payments Executive, Federal Reserve Financial Services

Innovation can help organizations navigate the evolving payments landscape, but mostly focusing on making minor changes “around the edges” can blindside them when they need to implement a more fundamental, far-reaching transformation. “Quantitative futurist” Amy Webb pioneered data-driven foresight models that help businesses understand the probabilistic outcomes of scenarios and spot disruptions early enough to create new revenue or mitigate risk.

1:15 – 1:30 p.m. Break and Networking
1:30 p.m. – 2:45 p.m. Panel: Instant Payments in the U.S.
Research shows that instant payments continue to gain visibility and acceptance among U.S. businesses and consumers alike. However, not all 10,000 U.S. financial institutions and their customers fully understand the various use cases, their benefits and business opportunities. This session will delve into industry readiness, as well as opportunities to educate end users and enhance the U.S. instant payments customer experience.

  • Moderator: Reed Luhtanen, Executive Director, U.S. Faster Payments Council
  • Rusiru Gunasena, Senior Vice President, RTP® Product Management and Strategy, The Clearing House (Presentation (PDF))
  • Rupa Krishnan, Managing Director, Head of Global Real-Time Payments, JPMorgan Chase
  • Bernadette Ksepka, Vice President and Deputy Head of Product Management, FedNow® Service, Federal Reserve System (Presentation (PDF))
  • Matt Marcus, Co-Founder and Chief Product Officer, Modern Treasury (Presentation (PDF))
  • Peter Tapling, APRP, Managing Director, PTap Advisory, LLC
2:45 – 3:15 p.m.

Innovation Insights from Leaders in the Room
Getting Onto Instant Payments Today

  • Presenter: Booshan Rengachari, Founder and Chief Executive Officer, Finzly

Activating Request to Pay Today

  • Presenter: Tanmoy Banerjee, Director, Immediate Payments Product Management, BNY Mellon
  • Presenter: Bob Steen, Chief Executive Officer, Bridge Community Bank
3:15 – 3:45 p.m. Break and Networking
3:45 – 5:00 p.m. Panel: Innovation
Ongoing innovation can ensure the U.S. payment system continues to become more efficient, secure, resilient and accessible to everyone. In recent years, payments modernization has been accelerated both by technology – such as increased digitalization and innovations in artificial intelligence – and by higher expectations among businesses, consumers and financial institutions that payments should be increasingly lower-cost, more efficient and faster. Leading voices from fintechs will discuss recent innovations and those on the horizon to further improve the U.S. payment system.

  • Moderator: Maria Smith, Vice President of Payments & Financial Services, Walgreens
  • Ginger Baker, Chief Network Officer, Plaid
  • Tom Greenwood, Founder and Chief Executive Officer, Volt
  • Stacy Greiner, Chief Operating Officer, DailyPay, Inc.
  • Nirmal Kumar, Chief Product Officer, Aliaswire
5:00 – 6:30 p.m. Reception and Networking

Thursday, Oct. 5, 2023

Time Events
7:30 – 8:00 a.m. Breakfast
8:00 – 9:00 a.m.

Keynote: Cybersecurity Trends and Private-Public Partnerships
Sean P. Roche, Former Associate Deputy Director, Directorate of Digital Innovation, Central Intelligence Agency

Introduction by Loretta Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland

The CIA knows a thing or two about cyberthreats – and in his years with the CIA, Sean Roche co-led the directorate responsible for enhancing cyber intelligence, communications and data security with cutting-edge technologies and a focus on accelerating innovation. Roche will share his perspective on the current threat landscape and strategies to improve financial services and payments industry security. Note: participants are free to use the information discussed but may not reveal the identity nor affiliation of the speaker(s) or any other participant.

9:00 – 10:15 a.m. Panel: Digital Currency
The world is becoming increasingly digital – which has spurred awareness of what digital currencies can offer versus traditional forms of payment, as well as adoption of central bank digital currencies, cryptocurrencies (e.g., blockchain) and stablecoins. Panelists will discuss services around the globe that can facilitate digital currency testing, use case exploration and offerings. The session will include a discussion of actions that have fostered adoption in various countries, including better identity services, data privacy safeguards and end user education.

  • Moderator: Avivah Litan, Vice President and Distinguished Analyst, Gartner (Presentation (PDF))
  • Austin Campbell, Adjunct Assistant Professor of Business, Columbia Business School (Presentation (PDF))
  • Dante Disparte, Chief Strategy Officer and Head of Global Policy, Circle (Presentation (PDF))
  • Tony Richards, Chair, CBDC Steering Committee, Digital Finance Cooperative Research Centre, Australia (Presentation (PDF))
  • Matthias Schmudde, Head of the Payment and Securities Clearing and Settlement Division, Deutsche Bundesbank (Presentation (PDF))
10:15 – 10:30 a.m. Break and Networking  
10:30 a.m. – 12:00 p.m. Panel: Security & Risk Management
News headlines about fraud continue to drive home the importance of addressing ongoing challenges and risks – from identity authentication to data security. This panel will discuss trends, including digital ACH and credit payments fraud, identity theft, synthetic identity fraud, business email compromise, ransomware and cybersecurity threats. Federal Reserve Financial Services and fraud experts also will highlight actions the industry can take to more quickly detect and mitigate fast-moving fraud, ranging from ongoing artificial intelligence enhancements to fraud information sharing.

  • Moderator: Julie Conroy, Head of Risk Insights & Advisory, Datos Insights (Presentation (PDF))
  • Ben Colman, Chief Executive Officer, Reality Defender
  • David Excell, Founder, Featurespace
  • Michael Timoney, Vice President of Payments Improvement, Federal Reserve Financial Services
  • Jonathan Welburn, PhD, Senior Researcher, Cyber & Intelligence, RAND Corp.
12:00 p.m.

Wrap-up: Ellen Bromagen, First Vice President, Chief Operating Officer, Federal Reserve Bank of Chicago

Lunch to Go