Event Calendar

Tuesday, April 23, 2024

Comparing Faster Payments Options: Same Day ACH, RTP & FedNow Webinar

Start Date: 4/23/2024 9:00 AM MDT
End Date: 4/23/2024 10:30 AM MDT

Event Website: https://financialedinc.com/comparing-faster-payment-options-same-day-ach-rtp-fednow

Organization Name: Independent Community Bankers of Colorado

Maelynn Lewis
Email: mlewis@icbcolo.org
Phone: (720) 607-7937

Thinking of joining the faster payments revolution and not sure which payment channel to choose? Then this webinar is for you. It is designed to equip participants with a thorough understanding of the faster payment systems (Same Day ACH, FedNow, and RTP), their functionalities, regulatory compliance, and the critical distinctions between them. This insightful webinar will dive into the quickly evolving landscape of modern payment solutions, focusing on Same Day ACH, Real-Time Payments (RTP), and the Federal Reserve's innovative FedNow service. Exclusively for domestic use, these groundbreaking systems are revolutionizing financial transactions with instant, real-time capabilities, offering final and irrevocable credit-only transactions that are accessible 24/7/365, with immediate settlement and funds availability. Key topics include the technical nuances of Same Day ACH files, the intricacies of payment flows and posting options in FedNow and RTP, and the procedures for ACH returns and reversals. The webinar will highlight the variety of payment types these systems accommodate, including C2C, A2A, C2B, B2B, B2C, and government transactions. It will also provide a comparative analysis of transaction limits and account management in FedNow and RTP. In addition, this session will include a look into the regulatory environment surrounding these payment systems, with a brief overview of Regulation E, CFPB guidelines, UCC 4A, OFAC, FinCEN, FFIEC, and OCC. Emphasis will be placed on the reporting and reconciliation processes specific to FedNow and RTP, including detailed consideration of summary and payment reconciliation reports. Attendees will gain valuable insights into the operations of these three systems, covering topics like audits, risk assessments, and fraud reporting.
  • Define the key characteristics of the Same Day ACH, FedNow, and RTP payment systems and understand their instant, real-time, final, and irrevocable nature, along with 24/7/365 availability
  • Distinguish between the payment systems and recognize differences in features, limits, and functionalities
  • Describe the payment flows and outline the processes from initiation to completion
  • Identify different types of payments handled by ACH, FedNow, and RTP
  • Assess the differences in the reporting and reconciliation processes in FedNow and RTP, along with detailed payment reconciliation reports
  • Comply with regulations/standards, including Reg E, CFPB, UCC 4A, OFAC, FinCEN, FFIEC, and OCC
  • Examine the audit and risk assessment procedures, including fraud reporting, the implications of unauthorized return rates, and compliance with Nacha's ODFI return rate reporting rule
  • Contrast the payment systems, highlighting their unique aspects, use cases, and operational implications
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits
This informative session will benefit payment operations managers, technology and innovation officers, treasury managers, IT directors and systems analysts, service managers, business development managers, and electronic banking product managers.
Regulations Affecting Instant Payments, recording available
Managing Instant Payment Risk & Fraud in the FedNow & RTP Networks, Wednesday, July 31, 2024
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Kevin Olsen, AAP, NCP, APRP, CHPC, Pidgin/Payments Professor
For most of the past two decades Kevin Olsen has been managing the development and delivery of education services, including in-person, web conferences, and webcasts. Kevin creates programs, presentations, and articles designed to orient and educate financial professionals on electronic payment topics. As the “Payments Professor,” he brings enthusiasm and motivation to presentations. With a Master's in Industrial/Organizational Psychology, Kevin has honed his speaking and presenting skills to perfection, ensuring an unparalleled learning experience for attendees. He views the world as a classroom, which is exemplified in the “edutainment” ed-u-tain-mint (noun: when education is motivating, informative, and fun) style of training he uses to educate and inform all on the latest developments and trends in the fascinating world of electronic payments.
  • Unlimited live connections with shareable access within your institution
  • Available to view on desktop, mobile & tablet devices
  • Take-away toolkit
  • Live Q&A session & the presenter's contact info for follow-up questions
  • Access the webinar training from your User Portal
  • Unlimited and shareable access to the recording within your institution,
    starting two business days after the live date
  • Available to view 24/7 on desktop, mobile & tablet devices
  • Take-away toolkit
  • Ability to download the webinar video and toolkit items
  • Presenter's contact info for follow-up questions
  • Access the webinar training from your User Portal
  • Save when you Bundle the Live + On-Demand Webinar Registration
  • Includes all the items listed above
  • Full registration descriptions can be found here

Online Registration

Registration is Closed
Closed: 4/22/2024 3:00 PM

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