25 Sept. 2025 -- Carl Slabicki from BNY on cross border, AI, and open banking
episode
Off the Rails from the U.S. Faster Payments Council - FPC
31 min
2 speakers
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
offload.
What are the episode headlines and introduction to Carl Slabicki of BNY?
I'm Reid Lutanen, Executive Director of the U.S. Faster Payments Council, and this is Off the Rails from the U.S. Faster Payments Council. Today's episode, I'll be joined by Carl Slabicki, Executive Platform Owner of Treasury Services at BNY. Carl and I talk about cross-border payments, AI, and the sorry state of his New York Giants. But first, the headlines. We have a number of resources that will be coming out in the next week or so, as well as some very exciting announcements. But I don't want to get out ahead of all that. That said, there will be some great sessions on instant payments at upcoming conferences, including at the EPCOR conference when I join the other payments beer nerds on stage to talk about a potpourri of topics that are impacting the payments landscape at the Chicago Payments Symposium when some new research, jointly conducted by the FPC Association,
and the Federal Reserve will be highlighted. And then at the National Association of Convenience Stores Conference, where I'll be bringing the message of payments modernization to that audience. And finally, at the Association for Financial Professionals Annual Conference, again, talking all things faster payments. If you're going to be at any of those events, please reach out and let's meet up. With that, let's get to that conversation with Carl Slabicki of BNY.
Thank you.
All right. We're joined by Carl Slabicki from BNY. Carl, thanks for joining us once again.
Hey, Reed. Thanks for having me.
All right. And obviously, as I just alluded to, you've been on the show a number of times before, but it has been a while. So I think there's quite a bit of ground we do need to cover here. How about we start, I think, with just a flyover from your perspective, global payments trends with instant payments, cross-border. So from your perspective, what's happening right now and what do you see kind of coming down the pipe?
Thanks, yeah, there's a ton happening. I'd summarize the trends kind of in the following fashion. We're seeing a lot of the legacy payments infrastructure for high value clearing, low value clearing, et cetera, in the US and abroad. really trying to evaluate what that modernization strategy looks like and how do you balance the benefit of that versus I'll say the investment on some of the newer capabilities that are in market like instant payment schemes and others. But we are seeing a lot of focus on what do we do with the legacy payments infrastructure? How do you migrate that potentially into an always-on economy and financial ecosystem while you have 100 plus near real-time payment systems in different markets across the globe?
all with varying degrees of maturity and saturation within their local markets that are looking to add value. And then what we see for sure, as well as you kind of look at that infrastructure and you see the modernization of different kind of instant schemes going, A lot of them are now opening up for cross-border payments, which is really making, I think, global money movement pretty exciting now, where you can actually work with a correspondent bank across the globe, send them a traditional SWIFT message, an API, if you have a bilateral connection, whatever it may be, and settle the last leg of that payment through the instant scheme, really opening up really 24-7, 365 money movement into a lot of the major corridors around the globe.
So, you know, I think that's really exciting to just kind of see how that plays out. Traditional stuff looking to evaluate how to have different markets, central banks, private sector operators, major banks within those markets kind of balance the investment in legacy versus the new. But all of it is really moving towards more of a 24-7 economy. And a lot of these systems are now becoming a lot more interoperable than they were in the past.
Yeah, well, it's daytime somewhere all the time, right? Exactly, exactly. And I think as everything gets more and more interconnected from an economic perspective, although, you know, I think there's more and more appetite for that kind of thing as companies are needing to move money from one jurisdiction to another.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:07–0:27
2
What are the episode headlines and introduction to Carl Slabicki of BNY?
0:27–13:41
3
What global payments trends does Carl see in instant payments and cross‑border rails?
13:41–20:33
4
How are instant payment schemes enabling 24/7 cross‑border settlement today?
20:33–28:32
5
What is the current state and future of open banking in the U.S. and industry concerns?
28:32–31:12
Speakers
2 identifiedMore from Off the Rails from the U.S. Faster Payments Council - FPC
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