Latest news with #ErikaBaumann
Yahoo
27-06-2025
- Business
- Yahoo
Payments conferences yet to come in 2025
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. As we enter the second half of the year, executives in the payments and fintech industries are looking ahead to networking and learning opportunities still to come in the second half of 2025. Industry experts anticipate a handful of topics will rise to the top of agendas at these upcoming events. Among the most pressing subjects will be artificial intelligence, the ongoing digitization of payments and ISO 20022, the standard for a common payments language. With the July deadline for ISO 20022 looming next month for the Fedwire Funds Service and a broader November ISO 20022 cross-border payments deadline also ahead, the importance of that topic is rising. Real-time payments gaining ground via the Federal Reserve's FedNow system, alongside The Clearing House RTP network, are also hot themes so far at this year's events. In addition, fraud has taken center stage, including at the Nacha Smarter Faster Payments in April. Erika Baumann, the director of commercial banking and payments at the consulting firm Datos Insights, said she expects real-time payments, artificial intelligence and use cases for generative AI, to be hot themes at remaining events this year. 'The conversation around AI and generative AI in financial services is shifting from theoretical possibilities to real-world applications,' Money20/20 President Tracey Davies said in an interview last year. That's especially true now that Congress is moving ahead with a possible regulatory framework for stablecoins, a form of cryptocurrency tied to fiat currencies. Digital currencies, buy now, pay later and in-house banking payments will likely be on the docket for conferences throughout 2025, Melissa Rawak, Association for Financial Professionals' managing director of membership, marketing communications and events, predicted last year. Below is a look at the biggest payments and fintech conferences still coming up in 2025. These are some of the gatherings most talked about in the industry. July 30-31 Chicago This will be MWAA's 23rd annual conference, a two-day event with educational and networking opportunities, speakers and an exhibit hall that showcases the latest payments products. Sept. 8-11 San Antonio, Texas MAG's event aims to focus on the latest industry topics as well as provide an outlook on the future of payments. Sept. 9-10 Scottsdale, Arizona Like the other regional acquirers associations, WSAA will hold a multi-day conference with education sessions and networking. Last year's event featured presentations on independent software vendors, commerce trends and major credit cards. Sept. 15-16 Chicago About 800 people are expected to attend MoneyLive in 2025, with 60% at the C-level, director, vice president or head-of level. This year's speakers included executives from Barclays, TD Bank and Old National Bank. Oct. 8-9 Chicago The Federal Reserve Bank of Chicago hosts this annual event. Last year's conference featured discussions related to cybersecurity, instant payments and digital currency, among other topics. October 15 New York 'What is great about the Datos event is that … we have the top 100 banks there with limited vendors,' Baumann said. Key topics typically include embedded banking, treasury onboarding and sustainability. Oct. 26-29 Boston AFP's annual conference will take place just before Halloween next year, with nearly 7,000 professionals expected to attend the event, according to Melissa Rawak, Association for Financial Professionals' managing director of global product strategy and growth. The Payments Hub Keynote will discuss the pros and cons of automated clearing house payments versus checks. Other topics will include AI, ISO 20022, fraud prevention, cross-border payments and stablecoins, Rawak said. Oct. 26-29 Las Vegas Money20/20 is among the largest gatherings of AI and finance leaders. This year's event will feature speakers from IBM, OpenAI, Oracle, NVIDIA and many more. The sessions explore how incumbent players, as well as disruptors and innovators, are using technology to modernize payments. Payments and fintech leaders 'attend because we're the place where they can meet with every key stakeholder in the global money ecosystem,' Davies said. 'We're the place to find partners, investors and customers - all under one roof.' Nov. 12-13 Philadelphia This conference in the past has focused on both fintech and payments, delving into topics like the 'future of bitcoin in payments,' innovations in payments and the role of central bank digital currencies. Speakers are drawn from across the payments, banking and digital asset arenas. (A link to the conference isn't available yet, but there is a link to the eighth annual conference above.) Patrick Cooley and Lynne Marek contributed to this story. Recommended Reading FedNow to launch by mid-2023, Fed official says Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
16-04-2025
- Business
- Forbes
The Clearing House Sees Growth In Its Real-Time Payments (RTP)
Real-time payments often travel over fiber optic cables Real-time payments (RTP) in the U.S have been gaining momentum in number of users, number of transactions and the growing maximum size of transactions. Even so, the U.S lags well behind such advanced payments networks as those operated by India and Brazil. In early February The Clearing House (TCH) announced its first $10 million instant payment over the RTP network which had just raised its maximum payment from $1 million to $10 million. The payment was by Computershare, a global transfer agent, from Bank of New York Mellon (BNY) to another financial institution. The average daily volume on the RTP network has jumped this year, from $909.2 million in January to $2.8 billion in mid-March, said Gregory MacSweeney, spokesman for TCH. 'Most of the higher value transactions appear to be corporations moving money between accounts for portfolio rebalancing, cash concentration or paying partners or suppliers. For instance, a large retail chain may move funds from its account in the Midwest, to its main account at headquarters, or move funds to another region.' The average transaction amount during that time was $2,510. Although the RTP network has seen impressive growth, fintech firms that support it have been a little disappointed, said Erika Baumann, director of commercial banking & payments at Datos Insights. 'Alacriti, ACI, Fiserv, Icon Payments and Volante — there's nobody who isn't active in this space,' she said. Vendors are working with their client banks to help them avoid disintermediation, but she hasn't seen a lot of vendors meeting their growth goals. Instead she has seen a lot of disappointment at the pace of adoption, especially with smaller banks. 'That's the result when you don't have mandates from regulators. We kind of go through and get to it when we get to it.' Now RTP is doing great, she added, but it took five years to get to takeoff, and then it doubled volumes quickly. 'It started off slow and then now the volumes are pretty impressive.' RTP faced the same challenge that FedNow, the Federal Reserve's instant payment platform, now faces. Banks are faster to set up facilities to receive instant payments, since receiving is pretty much risk free, but they take longer to start sending. But until a number of banks are sending, what is there for receive-only banks to transact? 'RTP has to overcome that hurdle of getting enough banks sending; FedNow has the same hurdle.' She said FedNow has a fraction of the nation's DDAs participating. Banks have faced technological challenges in going to real-time payments, said Nadish Lad, head of payments at Volante Technologies. It develops systems for real-time payments, including the system BNY Mellon used to send the first $10 million payment over the RTP network. 'To execute that payment, you need every application, every step to be completely real time,' said Nadish. 'Then the next problem is 24x7. These banks have core banking platforms which you can call, check the balance and validate the accounts are all good. But at 10 p.m., the core banking platform shuts down for a refresh, and then starts at 10:30 again.' Not exactly 24x7. If a bank creates a shadow balance, it introduces complexity and added another point of failure. So the bank should modernize its core banking system, but that's like open heart surgery, said Lad. Banks don't have to replace their cores to implement real-time, said Baumann. 'For smaller banks, many are opting to connect through their cores, but non-core providers like Finzly and Volante and Alacriti are largely core agnostic,' she said. 'It is still painful and expensive, but better than a core replacement that can take years, or sometimes a decade.' The big four banks absolutely hold the majority of the market share, she added. 'Not only do they have about half of the total deposits in the U.S., our most recent survey of mid and large corporate indicates that about 67% of these businesses are banking with a big four.' Uneven adoption of real-time payments is a problem for businesses, added Lad. 'If the beneficiary is BNY Mellon, then I know they will receive it in real-time. For the other beneficiaries, I'll have to send by ACH. If I added a day for everyone, no one is going to really benefit.' Lad said banks are still studying real-time payments more than acting. 'Every prospect we talk to in the U.S market asks do you have RTP? We say yes, we have a number of clients who have been live for the last six, seven years in your U.S market. Then, when we ask what are their plans? Oh, they say, we are thinking about it. We will probably look at it next year or the year after that.'
