I recently attended Nacha’s Payments Innovation Alliance meeting. The topics were not new, but the conversations felt more practical. Less “what if” and more “this is how people are using it.” Here are a few quick takeaways that stood out from the sessions:
Open Banking: Section 1033 Still in Play
Section 1033 remains in limbo, although the Consumer Financial Protection Bureau (CFPB) secured funding that appeared focused on finalizing a rule. Operationally, open banking creates wrinkles for ACH and recurring payments. Merchants can check whether funds are available before debiting. This is great for the consumer and prevents unnecessary Non-Sufficient Funds (NSF) fees, but raises practical questions:
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How often can they check?
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How broad is the authorization language?
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At what point does flexibility introduce compliance or risk concerns?
The ACH rails have not changed, but the decision logic layered on top of them has.
AI: Experimentation vs. Execution
One statistic stood out to me: the ratio of AI proof-of-concept projects to production implementations is roughly 9:1. There is significant experimentation, but far less deployment. Agentic AI (bots that shop and authorize payments on behalf of users) is clearly on the horizon. Governance questions remain: if requirements are loosely written and incentives are misaligned, who is the agent optimizing for? Convenience is compelling, but control and accountability still matter.
Stablecoins and Strategic Positioning
Many organizations are exploring stablecoins. The dominant use case remains cross-border payments. Still, international use cases require either a closed-loop network or exchanges in which both the sender and receiver agree to terms with language outside of those systems. The latency between contract and transfer still exists, and the uncertainty introduces friction to adoption. At this stage, stablecoins feel more like strategic optionality than mainstream replacement.
Industrial Bank Charters and Access Models
There were 18 banking charter applications in 2025, with three more added in January. Companies such as PayPal, General Motors and Ford Motor Company have gained approval for industrial bank charters, though many originally applied years ago and reapplied when regulations relaxed. These charters limit third-party activity, but they continue to blur the lines between financial institutions and commercial firms. At the same time, the Federal Reserve Bank (FRB) issued a Request for Information (RFI) to evaluate “skinny master accounts,” which would offer these payment account holders access to some of the FRB’s services, but restrict others, such as FedACH® and Fedwire®, among others. Comments on the FRB’s final rule were due February 6, 2026, and we’re not expected to hear about any rulings until later in the year. Should the FRB move forward, expect an influx of applications from non-financial institutions to obtain these “skinny master accounts.”
Regulatory Changes
ISO 20022 migration continues with additional wire deadlines each November covering areas such as postal address requirements, exceptions, investigations, statements and reporting. The work is incremental and ongoing. There are also additional ACH Rules changes on the horizon, reinforcing that governance is evolving alongside innovation.
The biggest takeaway was not a brand-new topic. It was the shift from strategy to execution. Open banking is affecting authorization language. AI is raising governance questions. Stablecoins are prompting positioning decisions. Charters and access models are expanding. The themes are familiar, but the operational implications are becoming real.
Modern Payment Fraud
Fraud was a consistent theme throughout the discussions, including one session that offered practical insight into how attacks are evolving across ACH, wires and real-time payments, along with actionable mitigation strategies institutions can implement today.
That focus reinforces what we’re hearing from our members. That’s why EPCOR is doubling down on the support and education you’ve asked for. We’re launching a new Virtual Fraud Symposium in partnership with UMACHA, along with free fraud-focused roundtables in Lexington, Columbus, Overland Park and Oklahoma City to continue the conversation and share practical strategies that work.
It was a great opportunity to engage with these discussions firsthand, and we look forward to continuing to represent EPCOR at future industry events and sharing insights that help our members navigate the evolving payments landscape.
We also encourage our members to become active in the industry! Feel free to reach out to me to learn how you can get involved and help shape the future of payments.