In August 2019, the Federal Reserve announced its decision to build the FedNowSM Service, a 24x7x365 real-time gross settlement service for instant payments. This represents history in the making by helping achieve the industry objective for ubiquitous faster payments in the United States. In this session, Connie Theien, Senior Vice President of Industry Relations, will discuss the latest developments in building the FedNow Service, how industry stakeholders are informing the process, and how the Fed will continue to prioritize fraud mitigation and payments security in an instant world.
SVP, Industry Relations, Federal Reserve Financial Services
Connie Theien serves as the senior vice president of industry relations and leads efforts to engage payments stakeholders in advancing strategies for improving the U.S. payment system and in collaborating to encourage implementation and adoption of faster payments in the United States.
Theien leads stakeholder engagement by supporting various industry and Federal Reserve work groups and initiatives. She also leads the engagement strategy for the Fed Payments Improvement Community, a group that includes thousands of stakeholders from across the payments ecosystem, to improve the end-to-end speed, efficiency and security of payments in the country.
As part of the Federal Reserve's payments improvement leadership team, she established and managed the Faster and Secure Payments Task Forces, a coalition of 500+ stakeholders that worked from 2015-2018 to lay important groundwork for advancing payments speed and security.
In her tenure at the Federal Reserve, Theien established national marketing in 2004 and industry relations in 2013. Prior to coming to the Fed, she led marketing and public relations efforts for nonprofit, retail and academic organizations. Theien holds a B.A. in speech communication from the University of Minnesota and an M.B.A. from the University of Minnesota's Carlson School of Management.