Latest News
Top 50 Nacha Producers Announced
Special Congratulations to SFE Members on the List!
SFE Members were named to Nacha's Top 50 ACH Originating and Receiving Financial Institutions List for 2024.
Join us in congratulating:
- Cadence Bank, Tupelo, MS
- Evolve Bancorp Inc., West Memphis, AR
- First Horizon National Corporation, Memphis, TN
- Regions Financial Corporation, Birmingham, AL
Congratulations, all!
Digital Directions 2025, General Session Highlight
"The Future of Payments: Are You Seeing What's Happening?"
The Payments Professor is back to drop the final beat of the conference—and test whether you’ve really been listening! Last year, he warned you about Elon—what will he predict this time? In this high-energy closing session, we’ll rewind the biggest hits from the conference, remix key industry trends, possibly revisit the reception dance floor, and tune into the future of electronic payments. From real-time payments and “Stable”/unstable regulatory shifts and financial innovation, we’ll challenge you to hear what’s really happening and what’s next. Are you in sync with the future, or are you missing the beat? Let’s find out!
Digital Directions 2025, General Session Highlight
"The Heart of Fraud: Fighting Human Crimes with Data, Unity, and Purpose"
With over 25 years of experience in the financial services industry, Ian Mitchell is a recognized expert in fraud and human crime space. He is the Founder and Board Chair of The Knoble, a non-profit network of professionals who share a passion for protecting vulnerable populations from human trafficking, scams, child exploitation, and elder abuse. He is also the Co-founder of Mission Omega, a mission-driven fraud and scams consulting and services company that helps financial institutions enhance their anti-fraud programs, defenses, and controls.
This keynote builds on Ian’s Banking With Heart series, a movement that inspires financial professionals to lead with purpose, courage, and compassion.
Blending expert insight with heartfelt storytelling, Ian will also perform one or two original songs, offering a rare and resonant keynote experience that connects head and heart.
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!
Sharp Growth in Business Use of Wire
Fed Take on Payments
Business payments are concentrated in wires, ACH credit transactions, and (still) checks, according to 2021 data released by the Federal Reserve Payments Study last month. Of these payment types, wires grew most by both number and value from 2018.
Spotlight! Payments Video Challenge
Winners Announced
The Payments Innovation Alliance established the Spotlight! Payments Video Challenge to empower others to create educational materials, resources and tools to help fight financial scams. The Alliance is a membership program that shapes the future of the payments industry and develops thought leadership relevant to financial services organizations.
And now the votes are in! Watch the top videos that take a stand against scammers. These creators nailed it—see how you can stay one step ahead of fraud.
The William A. McLarty Payments Institute Scholarship
SFE wants to fund your professional development!
The William A. McLarty Payments Institute Scholarship was established to assist one member in his/her journey for professional development. This year's scholarship will support one recipient in attending the 2025 Nacha Payments Institute®, an on-campus event scheduled for July 13 - 16, 2025, in Atlanta, GA.
Who is Eligible?
- Employment: The nominee must be employed by an SFE member company.
- Experience: The nominee must have worked a minimum of three years in the financial industry.
- Industry Focus: Primary consideration will be given to nominees in the payments industry.
What is Required?
- Submit the online Nomination Form for each nomination. (You may nominate yourself or someone else.)
- Submit Nominee's current professional resume’ via email to education@sfe.org.
- Nominations and documents must be received no later than Friday, May 30, 2025.
Digital Directions 2025, General Session Highlight
"Back to the Future (of Banking)"
An informal presentation style, contagious humor, and keen story-telling skills make Kevin Moland, Senior Advisor Payments Strategist for Jack Henry, a sought-after speaker! Kevin's General Session at Digital Directions 2025 will have you gaze into the past and use it as a springboard for a peek into the future of banking.
Save $100 on Digital Directions 2025 if you register by March 21st with the early bird discount!
Digital Directions 2025, General Session Highlight
"Ripped from the Headlines"
Peter Tapling, APRP, Managing Director of PTap Advisory, will present a riveting General Session at Digital Directions 2025! Peter's session will explore trending topics from the news preceding the event, engaging in discussions, and debates, and possibly even refuting some points in a lively, game show-like format.
If you haven't yet registered for Digital Directions, NOW is the time! The early bird and room block discounts are good 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!
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.
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!
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.
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.
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
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!
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.
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.
About
Faster Payments Professional Certificate Program
Instant payments are quickly becoming table stakes. Do you have a faster payments expert on staff to accommodate these shifts? SFE's Faster Payments Professional Certificate program can help.
Read MoreTraining on FedNow & Faster Payments
Do you have a faster payments strategy? Take advantage of SFE's VIP training series to ensure you are prepared for the future of payments.
Read MoreSave nearly 50% on Education
With SFE's Education Plan, you get necessary training on important topics--both live and on-demand. 2025 Education Plan is here. Sign up today and save!
Read MoreNew Publications Available
Check out two new publications to support check operations: Check Returns & Adjustments Quick Reference Guide and UCC Quick Reference Card (2024).
Read More
