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SWOAFP - FRB Update on the Evolution of Faster Payments (FedNow)

  • January 18, 2023
  • 4:00 PM - 5:30 PM
  • Virtual


  • ACTIVE/PAID SWOAFP Members can register for monthly meetings without any additional fees.
  • The Non-Member Guest Fee is $50 per Monthly Meeting, but a full SWOAFP Membership ($195.00/yr.) gets you free access to all 8 monthly meetings!

Registration is closed

FRB Update on the Evolution of Faster Payments (FedNow)

(Virtual Presentation)

Wednesday, January 18, 2023

4:00pm - 5:30pm

with featured speaker 

Steven Jung

VP & Regional Sales Director

Federal Reserve Bank of Chicago

In the Fall of 2018, The Federal Reserve Board requested comments on potential actions the Fed could take to facilitate interbank settlement of faster payments. The Board received more than 400 comments, with the overwhelming majority calling for the Fed to operate a real-time, interbank gross settlement service for instant payments.

The following year, the Board announced the Reserve Banks would develop the FedNow Service, a new 24x7x365 instant payment service, to help bring the benefits of safe, efficient instant payments to communities across the country.

Since that time, the Fed has announced the service’s features and functionality, established an engagement framework to support industry readiness, including forming a pilot program to support the development, testing and adoption of the FedNow Service. This new service is set to go live in 2023.

Steven currently oversees Regional Sales across the Federal Reserve System, which includes a portfolio of over two thousand financial institutions. Over his 29-year career with the Fed, Steven has held various leadership positions in Check Processing, Business Development, and the Cash Product Office. Steven graduated from the University of Nebraska with a major in Finance, and currently resides in Los Angeles.

Join our SWOAFP webinar to learn more about how the Federal Reserve Bank is progressing with Faster Payments. A Zoom link will be sent to all Registrants a few days before the start of this Event.

Also, please see below the list of awesome Events scheduled for the winter and spring of 2023, including the 5th Annual SWOAFP Treasury Conference on March 7, 2023 at the VOA Center in West Chester, Ohio.

Registration is open for all upcoming SWOAFP Events through June 2023.

Pending approval for 1.2 CTP Recertification credits by the Association for Financial Professionals (AFP).

Please share this SWOAFP Event with your friends and colleagues. Guests are encouraged to register and attend our monthly meetings ($50.00 fee).


Upcoming SWOAFP meetings for 2022/2023:

February 15, 2023: @ Fifth Third Bank - Lockbox Operations Overview & Tour

March 7, 2023: 5th Annual SWOAFP Treasury Management Conference, @ the VOA Center in West Chester, OH 

April 19, 2023: @ 3CDC - Walking tour in OTR

May 17, 2023@ Milacron Plant Tour, Batavia Ohio


June 14, 2023: SWOAFP @ New Riff Distillery


The SWOAFP would like to thank our 2023/2024 Sponsors for their generous support!

Southwest Ohio Association for Financial  Professionals

P.O. Box 45

Cincinnati, OH  45201-0045

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Southwest Ohio Association for Financial Professionals

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