Stephany Kirkpatrick
speaker
126 appearances
1 recordings
1 series
first heard Dec 2024
last heard Dec 2024
Stephany Kirkpatrick’s voice in public audio — every appearance, attributed to the second.
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Appearances
that didn't have to wait for Monday, or if you missed the cutoff on Friday, because your wire didn't land on time delays closing.
Those are all these things that start to accumulate in terms of value prop, where we're not just talking about speed and certainty, although I think those are headlines, we're also able to look beyond the kind of five day a week schedule that has been for the last 50 years.
money movement writ large and start to think about a more expansive capability that is 24 7 365 and while rtp doesn't yet do cross border um i think you know speculatively perhaps it will but as businesses who are often in global supply chain flows have to contend with the fact that
our Sunday as somebody else's Monday, the ability to transact on weekends starts to become even more relevant.
So there are many reasons, I think, just to say that not only is this a pivotal moment, but the use cases are probably only in their very early innings of being identified as, you know, sort of the things we can see very clearly right now, but speed being only a part of that.
Yeah, I don't know.
Yeah, think about it.
Real-time gross settlement is unique because it doesn't require having to go through all the mechanics and operations that some of our other rails require.
So it can be set up programmatically.
And because it's always based on a good funds model, you have little to no risk.
The payment goes out that isn't covered by available funds.
So while there certainly are other risks to be managed, Dean and Reid, I think you can both plan to take your Saturdays and Sundays off and your bank holidays, and we could still be excited about 24-7, 365 capabilities.
Happy to do that.
Well, when Dean called me up over the last couple of months and said, hey, I think we could team up together on this B2B thing, I was immediately intrigued and excited because so much of Faster Payments has really centered around pretty common use cases that I think are very, very important, but are ones that have been talked about, played out, et cetera, quite extensively.
And the Faster Payments Council's ability to have impact is not just contained to education.
Right, so as we're putting heads together on the work group and now off and running, I think our shared objective is that we are able to build playbooks and tools so that the suppliers of the world who wanna be able to have real-time payments in their portfolio, not just the folks like payment processors and companies like ORM and SRM, are able to know how to do that.
So we wanna be able to provide good data, we wanna be able to provide relevant use cases,
And ways in which folks can build business plans and business use cases where they know they're going to have ROI and it's not just a sort of pie in the sky dream.
So obviously, this news last week about the higher payment thresholds goes a long ways in helping us out.
But I think one of the other things that we keep in mind from a magnitude perspective, if you think about all the money that moves on ACH, which last year, as Nacho reported, is about $80 trillion, about $55 trillion of that is B2B payment flows.
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