The Federal Reserve Bank’s report, Strategies for Improving the U.S. Payment Systemand industry analysts are recommending a new US payments system. They are suggesting a system modeled on the one implemented in the United Kingdom. This would have an interesting effect on the Federal Reserve, the National Automated Clearing House (NACHA), The Clearing House (TCH), and U.S. payments in general.
There are many masters to serve and many ‘cooks in the kitchen’; how will they all come together (or not) to decide on where faster payments are headed. The U.K. experience will illustrate the similarities and differences between the two payments environments and shed light on why the U.K. Faster Payments System (FPS) was successful.
The Federal Reserve, NACHA, the Clearing House, and the large banks will all have a position and an agenda.
Learning how decisions were made in the U.K. will help you better understanding the options faced by U.S. payments organizations, regulators, and providers. Several options will be available but which ones are best for all?
Years of Experience: 30+ years
Areas of Expertise: Banking, Technology, and Finance
Ray Graber has a deep and thorough understanding of banking, technology, and finance. His experience includes banking technology research at TowerGroup; best practices internet policies at FleetBoston, wire transfer operations and product launches at Citibank and BankBoston; and treasury operations for a $325 million public company.
Mr. Graber was an adjunct professor at the Carroll Graduate School of Management at Boston College where he taught E-Banking, the MBA Leadership Course, Corporate Finance, and the Financial Management of Commercial Banks. He also taught Working Capital and Cash Management at the Bentley College Graduate Business Program.
Ray holds a Bachelor of Arts degree in Mathematics and an MBA in Finance and Computer Science from Boston College.View all trainings by this speaker