Innovation For Inclusion: Payments Inclusion Forum
The Atlanta Fed's Special Committee on Payments Inclusion, a multidisciplinary team of payments and financial inclusion experts, has completed its initial research into cash-reliant populations and payments adoption trends. The committee identified several barriers and offers recommendations on how to improve digital payments inclusion. The August 20 event was an opportunity to discuss the issues with a broader audience and identify where future work can advance.
Conference Details
Date: August 20, 2024
Location: Federal Reserve Bank of Atlanta
1000 Peachtree St NE
Atlanta, GA 30309
Watch the fireside chat with Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, and moderator Sunayna Tuteja, chief innovation officer for the Federal Reserve System.
If you have questions or would like additional information, email saferpayments@atl.frb.org.
Agenda
| Time | Sessions |
|---|---|
| In-person Arrivals and Networking |
|
| 1:30 | Welcome Remarks Jessica Washington, Assistant Vice President, Federal Reserve Bank of Atlanta |
| 1:35 |
Innovating for Inclusion, a Fireside Chat Raphael Bostic, President, Federal Reserve Bank of Atlanta Moderator: Sunayna Tuteja, Chief Innovation Officer, Federal Reserve System |
| 2:10 | Networking Break |
| 2:20 |
Inclusion Principles in Emerging Products Scott B. Astrada, Director of Public Policy and Social Impact, Affirm Keith Vander Leest, Head of Payments, Cross River Bank Brian Clarke, Senior Business Strategy Leader, Federal Reserve Bank of Boston What can be done to enable responsible, equitable innovation in financial products and services that enhances financial inclusion while ensuring robust consumer protections? This session will highlight research focused on what users like about alternative financial services (specifically nonbank bill pay, buy-now-pay-later, and earned wage access) and hear from providers of these innovative financial services about how they have enhanced individuals' ability to access, use, and benefit from these offerings. |
| 3:05 | Networking Break |
| 3:15 |
Working Together on a National Strategy for Financial Inclusion David Rothstein, Senior Principal, BankOn, Cities for Financial Empowerment Fund Erin Borġ, Initiative Lead for Inclusive Financial Systems, Aspen Institute Financial Security Program Lali Shaffer, Director, Payments Forum, Federal Reserve Bank of Atlanta Natalia Li, Director, Office of Consumer Policy, United States Department of the Treasury The US Department of the Treasury was directed to develop a strategy to improve financial inclusion related to the Financial Services and General Government Appropriations Act of 2023. It received input from a wide variety of stakeholders, including the Federal Reserve, to ensure that the strategy identifies clear and actionable opportunities for the public, private, and nonprofit sectors. Join us as we discuss proposed solutions the industry can implement to advance financial inclusion and broaden access to financial products and services among underserved communities. |
| 4:00 |
The Role of Cash-In/Cash-Out Networks in Payments Inclusion Crystal Bryant Minter, Senior Vice President, Money Movement, GreenDot Greg Donahue, Vice President, Network Solutions, NCR Atleos Elizabeth Mansfield, Vice President, Account Management for Banking and Fintech Solutions, Paymentus Maria Smith, Vice President, Payments and Financial Services, Walgreens Evidence suggests that cash-in, cash-out (CICO) networks play a critical role in a country’s journey from cash-based to fully digital systems. CICO networks are physical access points that allow customers to exchange cash for digital value or vice versa. This session will discuss the landscape of US CICO networks along with opportunities for improving their role in inclusion efforts. |
| 5:00 | Adjournment |
| 5:00 | On-site Networking Reception (until 6:30 p.m.) |