Launch of FedNow - Overview of Service and Value
The FedNow Service is a new instant payment infrastructure developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services. The program launched in July 2023.
Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive instant payments in real time, around the clock, every day of the year. Financial institutions and their service providers can use the service to provide innovative instant payment services to customers, and recipients will have full access to funds immediately, allowing for greater financial flexibility when making time-sensitive payments.
Our speaker, Phil Sprague, will cover the history of payments evolution including how FedNow will play a critical role across the industry to fill critical needs. Phil’s dialogue will provide an overview of the FedNow service flow and benefits, participation and use cases.
Join us for this in-person program on Wednesday, October 25, 2023, from 12:00 PM - 1:00 PM, food and beverages are included. Register today!
Philip joined the Federal Reserve in April 2021 where he leads the team responsible for onboarding industry participants to the FedNow Service and developing and executing the FedNow industry readiness strategy. As a part of these efforts, the team is focused on customer readiness and success for FedNow, the integration of customer listening and process improvement opportunities, and pioneering a new digitized onboarding experience.
Prior to joining the Federal Reserve. Philip spent 25+ years in the private sector, where he most recently served as the Senior Vice President for a large Financial Institution responsible leading the core and emerging payments products team. In this role, he was the business leader responsible for the launch and growth of Real Time Payments, Zelle, and the re-imagination of the Bill Pay.
While working in payments in the Charlotte NC area, Philip established a not-for-profit cross-industry organization called PayCLT to create a center of excellence around emerging payments, educate the community on the latest trends, and showcase payment-related businesses and talent in the Charlotte area.
He currently resides in Matthews, NC (just outside of Charlotte) and has a bachelor’s in finance from Rochester Institute of Technology.
Date & Location
Date: Wednesday, October 25, 2023, from 12:00 PM - 1:00 PM
Location: CFA Society Boston Office - 101 Federal Street, Suite 502, Boston, MA 02110
Member Registration | $50
Candidate Member Registration | $40
Student Member Registration | $30
Non-Member Registration | $75
Members of any CFA society may attend at the CFA Society Boston member rate. If you are only a member of CFA Institute, you do not qualify for the Society member rate.
Professional Learning Credits
CFA Boston has determined that this event qualifies for 1 PL credit hour under the guidelines of CFA Institute's Professional Learning Program. If you are a CFA Institute member and a CFA Society Boston member, PL credit for your participation in this event will be automatically recorded in your PL tracking tool. Otherwise, you may upload 1 PL credit to your CFA Institute account in the PL tracking tool.
Members can register by logging into their Boston specific account. Non-members and CFA Society Global members must create an account, or log into their Boston specific account, to register for this program. Confirmation details will be sent following registration. If you do not receive a confirmation email, please ensure you have completed the entire checkout process.
Meeting Safety and Responsibility Policy
All registrants and attendees of all CFA Society Boston programming agree to the Meeting Safety and Responsibility Policy. The CFA Society Boston Meeting Safety and Responsibility Policy includes the following:
- Personal Safety and Security
- Unacceptable Behavior
- Responsible Drinking