CEO Named Chairperson of Faster Payments Council

Michael Bilski elected to a three year term to industry-led membership organization to facilitate a world class payment system.

June 6, 2019 –Convening for the first time last week, the U.S. Faster Payments Council’s (FPC) Board of Directors elected its inaugural officers:

  1. Chairperson: Michael Bilski, Chairman and CEO, North American Banking Company
  2. Vice Chairperson: Deborah Matthews Phillips, Managing Director, Payment Strategy, Jack Henry & Associates Inc.
  3. Secretary/Treasurer: Reed Luhtanen, Senior Director, Global Treasury, Walmart Inc.

The Nominating Committee brought forth these candidates for full Board confirmation. Obtaining unanimous consent, these individuals were elected to serve three-year terms, with the potential for a one-term reelection. In their officer capacities, Bilski, Phillips, and Luhtanen will lead strategic organizational direction, oversee all Board committees and meetings, and provide financial oversight.

“It’s an honor to serve as the inaugural chairperson for the FPC and to help expand upon the strong foundation we’ve laid,” states Bilski. “Countless hours have driven us to where we are today, but there’s much more to come. FPC member commitment is unparalleled, and with that level of passion comes action. Together, we will create a U.S. faster payments system that supports today’s needs and tomorrow’s demands.”

In addition to securing officers, last week’s Board meeting focused on significant strategic tasks. Board dialogue concentrated on finalizing the Executive Director search, hiring key support staff, increasing engagement in all industry segments, and expediting and expanding initial work group efforts. Beyond existing programs, the Board discussed standing up new work groups and supporting those efforts with a comprehensive call for volunteers for all open projects. Additional announcements on these topics will be coming in the following weeks.

Since its launch, the FPC membership has concentrated on actionable results, aligning work efforts in priority areas, including end-user transparency, education and awareness, and safety and security. Upcoming deliverables include guidelines on the information faster payment services should provide to end-users; key messaging for consumer and business end-user audiences; and safety and security industry best practices. To learn more or to join a work group, visit

About the U.S. Faster Payments Council

(FPC) The FPC is an industry-led membership organization whose mission is to facilitate a world class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility and transparency, the FPC will use collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit

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