The International Experience with

FinTech – Bringing Innovation and

Competition to Market

FinTech Market Study

February 21, 2017

Sean Rodriguez Senior Vice President

Faster Payments Strategy Leader

Federal Reserve System

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Complicated Payments Ecosystem in the U.S.

Financial Institutions

© 2017 Federal Reserve Banks. Materials are not to be used without consent. 2

3 © 2017 Federal Reserve Banks. Materials are not to be used without consent.

Strategies for Improving U.S. Payment System Focuses on Improving Payment System Speed,

Efficiency, and Safety from End-to-End

Five desired outcomes developed with extensive payment stakeholder input

Speed Security Efficiency

International Collaboration

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Achieving Desired Outcome for Safe, Ubiquitous,

Faster Payments Capabilities for the U.S.

Strategies Paper

Task Force Work Efforts

Address Challenges and Opportunities

Desired Outcome

a safe, ubiquitous,

faster payments

capability in the United

States