Latest News

General Session Highlight: Instant Payments Panel

Big Benefits & Big Questions

Hear our Panel of experts from The Clearing House, Federal Reserve Financial Services, Regions Bank, Q2, and Open Payment Network, Inc. discuss strategies to accelerate adoption of sending instant payments, unlocking the full potential of this ecosystem.

Register for Digital Directions

FedNow® Service Announces New Risk Mitigation Features

Plus $1 Million Transaction Limit Increase

Starting in summer 2025, FedNow Service participants will have access to new account activity threshold functionality, which will allow participants to define value and velocity thresholds by customer segment to fit their unique business needs and risk tolerance. The new risk mitigation features will take effect alongside a FedNow Service transaction limit increase from $500,000 to $1 million.

“We're opening up opportunities for our customers to meet market needs, while also maintaining strong risk mitigation controls,” said Mark Gould, chief payments executive for Federal Reserve Financial Services. “The combination of account activity threshold functionality with the increased transaction limit gives participants powerful tools to customize risk parameters across customer segments, from established businesses to retail clients.”

Digital Directions 2025, General Session Highlight: Today's Top Tech Trends & Cybersecurity Threats

Jimmy Sawyers, Chairman & Co-Founder of Sawyers & Jacobs, LLC, will present the opening General Session at Digital Directions 2025!

Jimmy's presentations have entertained bankers for over 29 years through his ability to communicate the most complex technology, cybersecurity, and risk management trends in a simple, straightforward manner that is both engaging and informative. Always full of valuable takeaways, we are thrilled to have Jimmy join us this year for our 35th annual conference and expo!

If you haven't yet registered for Digital Directions, NOW is the time! The early bird discount will expire as of March 14th, and the room block discount is through March 21st.

Plus, Buy2Get1: If your organization registers two individuals for Digital Directions 2025, the third registrant is free!

We'd love to SEE YOU AT THE BEACH!

Register Today!

ISO® 20022 Implementation Rescheduled to July 14

Federal Reserve Financial Services (FRFS) has decided to reschedule the Fedwire Funds Service ISO 20022 implementation from March 10 to July 14, 2025. This will provide customers and vendors who are not ready additional time to better prepare for the transition to the new ISO 20022 format.

The Fedwire Funds Service will remain on the current message format (i.e., Fedwire Application Interface Manual (FAIM) 3.0.7 format) until July 14. FRFS will announce its final “go” or “no go” decision for July 14 no later than June 27.

Learn More

Should an ODFI Ask a TPS for Proof of a Rules Compliance Audit?

Here's Why RMAG Thinks You Should

On February 7th, Jordan Bennett (Senior Director, Network Risk Management for Nacha) highlighted an important question for ODFIs: Should you be asking your TPS for proof of their rules compliance audits?

According to members of Nacha’s Risk Management Advisory Group,(RMAG): Yes, you should. The risk management professionals from RMAG emphasized that it’s not enough to trust your customer when performing the due diligence process at onboarding or during the lifespan of the relationship. Click to read more on this important discussion.

Nacha Requests Feedback by February 28

Survey: FI Business Decisions and Governance in the Crypto Space

The Nacha Payment Innovation Alliance is currently conducting a survey between now and the end of the February to gain industry feedback from financial institutions about business decisions and governance in the crypto space. The team is hoping to get as much feedback as possible to aid in addressing tools and resources that could benefit the industry.

Take the Survey

Upcoming Changes to Funds Transfers Through Fedwire^® Funds Service

Effective February 18, 2025, the Federal Reserve Banks will amend Operating Circular 6, Funds Transfers Through the Fedwire^® Funds Service. Is your financial institution prepared?

The Federal Reserve has advised that your continued use of the Fedwire Funds Service on or after February 18, constitutes agreement to the revised terms of the operating circular. See the Operating Circulars page for the revised operating circular and information related to the changes.

Learn More

You can also join us for an informative 2-hour webinar on January 30th. Important details and considerations will be addressed to help attendees and their organizations prepare for the Fedwire ISO 20022 Migration.

Countdown to Fedwire ISO 20022 Migration

Identity Theft Awareness Week is Coming!

The Federal Trade Commission (FTC) is hosting Identity Theft Awareness Week, January 27 - 31, 2025. During the week, the FTC and its partners will host free webinars and other events to talk about how to spot, avoid, report, and recover from identity theft.

Mark your calendars. It starts Monday, January 27!

Learn More

2025 Supervisory Priorities: Be Prepared

The Office of the Comptroller of the Currency (OCC) and the National Credit Union Administration (NCUA) have announced their 2025 supervisory priorities. Key focus areas for regulators include:

Payment systems and products:

Checks
Peer-to-peer transfers
Wire transfers
Bank-fintech partnerships

Specific risk areas:

Fraud risk management
Real-time/instant payments
Third-party risk management
Electronic Fund Transfer Act (Regulation E) compliance
Payment and error resolution policies/procedures

To help your financial institution be prepared for an upcoming OCC or NCUA exam, contact SFE.

SFE can provide deep expertise in all payments systems, including auditors' perspectives with a team made up of payments industry veterans, including AAPs, APRPs, NCPs, and certified auditors. We can answer all of your regulatory and compliance questions and take it a step further, evaluating your policies and procedures from an auditor's perspective and identifying ways to lessen your risk.

Contact SFE Today

Statement on New Orleans Terrorist Attack

Payments Hot Tip: Addressing Elder Financial Exploitation

A financial institution (FI) is required to file a Suspicious Activity Report (SAR) if it knows, suspects, or has reason to suspect a transaction conducted or attempted by, at, or through the financial institution involves funds derived from illegal activity, or attempts to disguise funds derived from illegal activity; is designed to evade regulations promulgated under the BSA; lacks a business or apparent lawful purpose; or involves the use of the financial institution to facilitate criminal activity, including Elder Financial Exploitation. All statutorily defined financial institutions may voluntarily report suspicious transactions under the existing suspicious activity reporting safe harbor.

Read More