WASHINGTON (3/30/16)--As the Federal Reserve’s Faster Payments Task Force continues to assess faster payments solutions, it has selected McKinsey & Co. to act as the qualified independent assessment team. The Credit Union National Association (CUNA) is a member of the task force, which supports broad efforts to improve the speed, safety and efficiency of payments.
CUNA participated in a task force call Tuesday to discuss how it will use McKinsey & Co. to further the work of the task force.
McKinsey & Co. will assess faster payments solutions proposals from payments industry providers nationwide. The proposals will be submitted by some task force members, and will be analyzed using 367 effectiveness criteria identified by the task force.
The proposals and assessments will be provided to the full task force later this year for review and comment, with a goal to publish them in early 2017.