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Session: Is Pay by Bank a Sustainable Strategy - Instant Payments (FedNow and TCH) Adoption

Session Participants:

  • Dan Baum
  • Marcia Klingensmith
  • Kevin Olsen
  • Mark Majeske

About the Speaker:

Daniel Baum is the head of payments product for the FedNow® Service. In his role, Dan leads product development and product management efforts for the Federal Reserve’s newly announced FedNow service offering. 

Baum previously served as vice president in the Retail Payments Office (RPO) of the Federal Reserve System, where he led the RPO’s product development group overseeing Check and ACH product development and pricing. He also served as a product development director in the RPO, overseeing key product and pricing initiatives for the automated clearinghouse (ACH) and check business lines. From 1996 to 2005, Baum worked at the Richmond Fed managing day check operations and led the Fifth District’s Check Administration department.

Baum holds a bachelor’s degree in economics from the University of Maryland at Baltimore, a master of business administration from Johns Hopkins University, and attended Banking School at Vanderbilt University.

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