Off the Rails from the U.S. Faster Payments Council - FPC
12 Oct 2023 Stephany Kirkpatrick of Orum on Account Verification, Time to Money, Artificial Intelligence, and getting enough sleep
Oct 12, 2023
Join FPC Executive Director Reed Luhtanen as he goes off the rails with Stephany Kirkpatrick of Orum. They discuss Orum's new account verification product and the prospect of building innovations on top of faster payments rails. They also touch on artificial intelligence, bringing more girls into STEM, and the importance of sleep.
21:33
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Quick takeaways
- Layering new products and innovations on top of faster payment rails, such as instant account verification, is a promising opportunity for the future of faster payments.
- The importance of enabling smaller companies and different profiles to leverage instant payment technologies and the value of artificial intelligence in fraud detection, loan approval, and underwriting processes were emphasized by Stephany Kirkpatrick.
Deep dives
The Current State of Faster Payments and Closing the Gap
In this episode, Reid Lutein interviews Stephanie Kirkpatrick from Orum about the current state of faster payments and the efforts to close the gap between the United States and other countries. They discuss the opportunities for layering new products and innovations on top of faster payment rails, such as instant account verification. Kirkpatrick emphasizes the importance of getting enough sleep and highlights the impact of instant payments on underserved populations, addressing issues like waiting for earned wages and managing payables and receivables.
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