2024 has seen a continual rise in fraud attempts ranging from old-fashioned check fraud to social network-based romance scams, app-based instant payments fraud, synthetic/stolen identities, and beyond. To address this ongoing increase in fraud, financial institutions and fintechs are consistently developing and deploying new countermeasures, including AI-based models that improve and accelerate fraud detection, network-based technologies, and advanced digital identity verification models, among others. This panel will review the latest developments and trends in both fraud and the mitigation approaches being taken while also exploring new opportunities for improved industry and public-private sector coordination to combat fraud and scams.

Panelists:

• Mark Kwapiszeski, Head of Enterprise Fraud, PNC Financial Services Group
• Denise Leonhard, General Manager, Zelle, Early Warning Services
• James Mirfin, SVP, Global Head of Risk & Identity Solutions, Visa
• Yinglian Xie, CEO & Co-Founder, DataVisor

Moderated by: Sal Karakaplan, Chief Strategy Officer, The Clearing House

Banking regulation and related supervisory requirements have consistently expanded in complexity over time, placing growing demands on firms to deliver on increasingly-detailed and prescriptive regulatory expectations. In concert with these growing demands, costly compliance and risk departments have consistently expanded, presenting risks of regulatory capture and of the potential for a false sense of security for supervisors and investors. This panel considers how regulated financial institutions can successfully embrace a strong culture of compliance while reducing bureaucracy, freeing up businesses to innovate, and improving profitability.

Panelists:

• Greg Baer, President & CEO, Bank Policy Institute
• Steve Cutler, Of Counsel, Simpson Thacher
• Jelena McWilliams, Partner, Cravath
• Randal Quarles, Chairman and Co-founder, The Cynosure Group

Moderated by: Barnabas Reynolds, Partner, Co-Head of Financial Services Advisory and Regulatory Group and Global Head of Financial Institutions, A&O Shearman

From same-day delivery to on-demand access to earned wages, instant streaming of the latest blockbuster movie, food delivery, ride sharing, and across many more facets of modern life, the real-time economy is all around us and continually-expanding! Consistent with this reality, consumers and businesses across the economy are increasingly demanding immediacy in payments. With real-time payments live in the U.S. now for six years and with volumes growing rapidly, this session will explore how businesses and consumers are benefiting from real-time payments, how real-time capabilities are being accessed, and where financial institution customers are seeing the biggest benefits from migrating to real-time payments.

Panelists:

• Melissa Ashley, CPA, President/CEO, Corporate One
• Tede Forman, President, Payment Solutions, Jack Henry
• Dietrich Kuhlmann, President and CEO, Navy Federal Credit Union
• Jamie Walker, CEO, Elavon

Moderated by: Inderpreet Batra, Managing Director, Senior Partner and Head of Payments & Fintech, BCG

From banking-as-a-service to private credit and credit-risk transfers, from narrow banking to nationwide banking and banking in a virtual/digital world, the banking sector faces unprecedented challenges from competitors and collaborators, including complex questions about what its future will look like. This panel will explore these matters from regulatory, market, and operational perspectives, examining structural and legal challenges and opportunities and assessing the shape of things to come.

Panelists:

• Jonathan Fink, Associate Chief Counsel & Acting Director, Bank Advisory, OCC
• Gunjan Kedia, President, U.S. Bank
• Randal Quarles, Chairman and Co-founder, The Cynosure Group
• Reena Sahni, Deputy General Counsel, Federal Reserve Board

Moderated by: Lee Meyerson, Chairman and Founding Partner, Financial Institutions Practice, Simpson Thacher

The sharing of bank-held consumer financial data has been evolving in the U.S. for over 20 years, but the recent CFPB rulemaking in 2024 under Dodd Frank 1033 has now delivered significant regulatory clarity in this area, and with it, both new demands and opportunities for the entire Open Banking ecosystem. During this session, senior leaders from FI's and other data providers, Data Access Platforms, Fintech data recipients and 1033 experts will discuss key elements around the 1033 rule, including designation of new Standards Setting Organizations, the scope of data sharing, implementation timelines and requirements and what comes next in terms of the now burgeoning realm of Open Banking.

Panelists:

• Kevin Feltes, CEO, Financial Data Exchange (FDX)
• Paul LaRusso, CEO, Akoya
• Stacy Rosenthal, Vice President, Payment Solutions, PayPal
• Natalie Talpas, EVP, Head of Retail Digital and Emerging Payments, PNC
• Ashwin Vasan, Partner, FS Vector

Moderated by: Ulrike Guigui, Managing Director, Deloitte

Growing rates of fraud are causing both public and private-sector policy-makers to reconsider how best to allocate losses caused by fraud to incent behaviors that could reduce fraud. This panel will explore recent developments in the payments-fraud landscape from novel litigation to new regulation, legislation and more. Panelists will offer insights on current payments fraud schemes, how payment system evolution affects and is affected by fraud, the effectiveness of existing legal frameworks, and public and private sector efforts to mitigate fraud to protect customers, financial institutions and other stakeholders.

Panelists:

• Christopher Filburn, Assistant Attorney General, New York State Office of the Attorney General
• Sarita Frattaroli, Attorney Advisor, CFPB
• Alaina Gimbert, SVP and Associate General Counsel, The Clearing House
• Ian Spear, Deputy Associate Director of Retail Payments, Federal Reserve Board

Moderated by: Duncan Douglass, Co-lead, Payments & Fintech Group, Alston & Bird

The emerging coupling of AI with Quantum Computing is poised to dramatically accelerate the changes already being driven by AI alone. This panel will explore both the opportunities and challenges associated with the emerging coalescence of AI and Quantum Computing, with topics including: the use cases that lend themselves to this combination of technologies and an overview of funding, prioritization, technical resource up-skilling, regulatory demands, and build-versus-buy considerations. The session will additionally explore considerations around risk management associated with the adoption of this pending technological revolution.

Panelists:

• Todd Conklin, Chief AI Officer & Deputy Assistant Secretary of Cyber, U.S. Department of the Treasury
• Steve Flinter, Distinguished Engineer, Artificial Intelligence & Quantum Computing, Mastercard
• James Mitcheson, Executive Vice President, Chief Architect, Citizens Bank
• Panelist To be Announced

Moderated by: Sean Tinney, Global Head of Enterprise Computing Systems Solutions, Unisys

The technology behind digital assets, particularly the idea of tokenizing a national currency, holds the promise to facilitate new payment mechanisms and introduce programmability to money, but significant policy differences exist regarding whether such systems should be administered by governments or private actors, whether bank or nonbank. This panel will explore the evolving policy debate about the appropriate role of public and private sector actors in facilitating digital currencies, and the impact that the next administration may have setting policy. 

Panelists:

• Caroline Butler, CEO, Global Head of Digital Assets, BNY
• Nellie Liang, Under Secretary for Domestic Finance, U.S. Department of the Treasury
• Josh Lipsky, Senior Director, GeoEconomics Center, The Atlantic Council
• Heath Tarbert, Chief Legal Officer and Head of Corporate Affairs, Circle

Moderated by: David L. Portilla, Partner, Financial Institutions, Davis Polk

A tremendous increase in new technologies and data, among other variables, have created many new opportunities for financial institutions and their partners to increasingly and more effectively integrate into their customers' lives, including across various points of interaction. This panel will explore customer-centricity in banking and payments, the trends that gave rise to this movement, and what emerging capabilities can help businesses better serve their customers. The session will additionally address whether the financial services industry has arrived in terms of excelling in customer-centricity, whether customers are more loyal with higher Net Promoter Scores, and if these factors translate to the bottom line. 

Panelists:

• Tim Attinger, Co-Founder & President, OvationCXM
• Amy Avery, SVP, Head of Analytics, Modeling, and Insights, Bank of America
• Sherry Graziano, EVP, Head of Digital, Client Experience, and Marketing, Truist
• Maria Smith, VP, Payments and Financial Services, Walgreens

Moderated by: Margaret Weichert, Chief Product Officer, The Clearing House

The CFPB’s regulatory and enforcement agenda has impacted the consumer financial services industry in significant ways during the past several years, including as it has launched its crusade against “junk fees,” focused in on big tech, expanded its view of lending, and pressed the boundaries on consumer fraud. Against this backdrop, this panel will consider how the 2024 Presidential Election and recent Supreme Court decisions may affect the CFPB’s priorities in 2025 and beyond, and how state attorneys general and private litigants may adjust their own activity in response. 

• Brad Blower, Founder & Principal, Inclusive-Partners
• Chris D'Angelo, Office of the Attorney General, State of New York
• Gabriel O'Malley, CFPB Deputy Enforcement Director for Strategy & Policy
• Michael Williams, Solicitor General, State of West Virginia

Moderated by: Noah Levine, Partner, WilmerHale

Instant payments are seeing impressive adoption across 80+ domestic markets now, fueled particularly by the adoption of new digital use cases. With these advances having been implemented in a critical mass of countries around the globe, initiatives are now emerging to extend these instant payments experiences to deliver cross-border payments. This session will review the current outlook for instant cross border payments, including regulatory developments and various initiatives in this area being conducted by central banks, instant payments operators, card networks, and fintech disruptors. Panelists will also review the optimal solutions to address key customer pain points (e.g., transparency, certainty of delivery, speed), and which provide the greatest opportunities and threats for the industry.

Panelists:

• Nasir Ahmed, Head of the Americas and UK Region, Swift
• Monica Cristancho, Cross Border Payments Head – North America, Citi
• Helena Forest, EVP, Real-Time Payments Product and Commercial, Mastercard
• Tom Halpin, Managing Director; Head of Global Payments Solutions North America, HSBC
• Hays Littlejohn, CEO, EBA CLEARING

Moderated by: Courtney Trimble, Principal & Global Head of Payments, KPMG

This year’s Supreme Court term delivered opinions with far reaching impact on the banking sector. Key decisions with outsized impact included the elimination of Chevron deference, which will likely change the calculus for overturning agency rules, and the Corner Post opinion which will open the courthouse door allowing more plaintiffs to challenge long-standing regulations. This session convenes former Supreme Court clerks for a rapid-fire take on this past term, the workings of the Supreme Court, and a look-ahead to 2025. 

Panelists:

• Elaine Goldenberg, Partner, Munger, Tolles & Olson
• Mark Mosier, Partner, Covington
• Morgan Ratner, Partner, Sullivan & Cromwell
• Jeffrey B. Wall, Partner, Sullivan & Cromwell

As the global economy becomes more interconnected and as regulations evolve to facilitate the use of more data, the power, the possibilities for and value of rich-data are growing within financial services. This session will discuss recent innovations corresponding to data within payments and how the players in this ecosystem are evolving to better capture and analyze data to facilitate data-driven decisions that will enable better fraud detection, personalized services and business insights.

Panelists:

• Jarrett Bruhn, Managing Director, Head of Data and AI, Global Payment Solutions, Bank of America
• Lavonne Heaviland, President - Centralized Operations, FirstBank
• Keith Melton, SVP, Product Marketing & Strategic Initiatives, The Clearing House
• Mark Smith, Head of Payments Market Development, AWS

Moderated by: Hugh Richards, Ecosystem Strategy, Banking and Capital Markets Solutions, DXC Technology

From anti-money laundering compliance to operational risk management, 2024 has seen a variety of supervision and enforcement priorities pursued by the regulators. This session will review the supervisory and enforcement environment of the past year and offer commentary on what we are likely to see as 2025 unfolds.

Panelists:

• Jennifer Burns, Deputy Director, Division of Supervision and Regulation, Federal Reserve Board of Governors
• Whitney Case, Associate Director, Enforcement & Compliance Division, FinCEN, U.S. Department of the Treasury
• Greg Coleman, Senior Deputy Comptroller for Large Bank Supervision, Office of the Comptroller of the Currency
• Laura O'Hara, Senior Executive Vice President and Chief Legal Officer, M&T

Moderated by: Stephen Salley, Partner, Financial Services Group, Sullivan & Cromwell

With new technologies and new entrants proliferating across the payments landscape, the long-standing rails that have underpinned the country’s payments system for decades will either continue to deliver time-tested value and reliability or, alternatively, be seriously challenged by new entrants. This session will explore how the country’s core payments rails are responding to competitive pressures, the areas in which core payments rails can be expected to maintain a comparative advantage, and where these rails need to modernize and evolve or risk an inevitable erosion in volume, profitability, and relevance. 

Panelists:

• Shonda Clay, Chief of Product and Relationship Management, Federal Reserve Financial Services
• Richard Dzina, SVP, Product Development, The Clearing House
• Renata Vilanova Lobo, Managing Director and Head of Global Clearing, JPMorgan Chase
• Kristin Walle, VP, Global Money Movement & Compliance, ADP

Moderated by: Carol Coye Benson, Independent Consultant and Founding Partner, Glenbrook Partners

Financial institutions' deployment of AI is accelerating and evolving in response to technology shifts in payments operations and data-rich transactions, as well as growing cybersecurity threats and fraud risks. This panel will look beyond the business case for using AI and explore the regulatory and supervisory lens through which AI implementations will be measured including explainability and model risk, vendor risk management, data rights, bias and discrimination, and data privacy. 

Panelists:

• Sandra Lee, Deputy Assistant Secretary, Financial Stability Oversight Council, U.S. Department of Treasury
• Bert Fuqua, Deputy General Counsel, Corporate & Investment Bank, Wells Fargo
• Terah Lyons, Global Head of AI Policy, JPMorganChase
• The Honorable Eugene A. Ludwig, 27th Comptroller of the Currency, Founder and CEO of Ludwig Advisors, and Managing Partner of Canapi Ventures
• Aviad Levin, General Counsel and Corporate Secretary, Socure

Moderated by: Jess Cheng, Partner, Wilson Sonsini