Financial Update (Second Quarter 2009)

Retail Payments Risk Forum Launches Blog
photo of Jennifer Grier of Atlanta Fed's Retail Payments Risk Forum
Jennifer Grier of the Atlanta Fed's Retail Payments Risk Forum

The Atlanta Fed's Retail Payments Risk Forum has introduced a blog, Portals and Rails, meant to spark conversation and foster ideas about retail payments risk.

While other online forums address the broader topic of payments, Portals and Rails focuses specifically on retail payments risk. Risk Forum staff members and others by invitation will produce posts periodically, and the Risk Forum encourages readers to comment and advance the discussion of issues related to payments fraud, payments risk management, operational risks, and other concerns.

Debate, discussion to serve payments industry
"Portals and Rails is an extension of our mission to serve as a collaborative touch point for the retail payments risk community," said Cliff Stanford, Atlanta Fed assistant vice president and director of the Retail Payments Risk Forum. "We hope to build a vibrant online platform for discussion and debate among all participants in the retail payments risk field."

Portals and Rails
Retail Payments Risk Forum

That field encompasses financial institutions, nonbank providers of retail payments services and technology, law enforcement agencies, regulatory agencies and others. The blog is designed to help advance the Forum's goal: to measurably affect the detection and mitigation of risk and fraud in retail electronic payments.

Blog is Atlanta Fed's second
Portals and Rails, which is named for entry point portals and the "rails" that transport electronic payment data, is the Atlanta Fed's second public blog, after the Research Department's macroblog made its debut in August 2008.

In addition to launching Portals and Rails, the Retail Payments Risk Forum has assembled an advisory group that will help set priorities, including focus areas for original research and analysis. The new group includes representatives from financial institutions, corporate users of retail payments, law enforcement agencies, federal regulatory agencies, academia, the legal community, and the Fed.

April 21, 2009