The Federal Reserve announced Kevin Christensen, SHAZAM's senior vice president of market intelligence and data analytics, was elected to a seat on the U.S. Faster Payments Governance Framework Formation Team.
The Governance Framework Formation Team is a short-term working group, established by the Federal Reserve's Faster Payments Task Force to develop recommendations for a faster payments governance in the United States.
"The Faster Payments task force laid a foundation for us to take the next step toward a faster payments system based on standards and interoperability," Christensen said. "My professional experience has shown me the importance of choice, flexibility and open standards in providing payment processing services for community financial institutions."
In July, the 300-plus member task force finished its final report of reviewing faster payments solution proposals, considering challenges and opportunities associated with advancing faster payments across the country, developing recommendations and delivering a call to action to the payments community.
The 27-member Governance Framework Formation Team will initially focus on the structure, decision-making and processes of a governance framework. The team will likely seek comment on its initial work by spring of 2018 and expects to complete its work by the end of the year.
Christensen brings 23 years of experience as a payments professional, FDIC examiner and IT expert to the formation team. At SHAZAM, he leads the company's enterprise-wide governance and utilization of information and is responsible for providing insights that aid in the development and execution of the company's strategic goals.
"Kevin's skills and expertise bring a broad range of payments and regulatory knowledge to the formation team," said Paul Waltz, SHAZAM's chief executive officer. "He definitely has the right background and experience for the job."
Christensen is also a member of the National Automated Clearing House Association's (NACHA) board of directors.