Terri Bradford, Advanced Payments Specialist on Influential Women

Influential Woman · Quasi governmental

Terri Bradford

Advanced Payments Specialist, Federal Reserve Bank of Kansas City

Kansas City, MO

Certifications · Degrees · Memberships

Degree Business Administration degree from Kansas State University Degree 1989 Cert Accredited ACH Professional (AAP)

Her Story

About Terri

I do research on the banking system and payment system, specifically on payments industry issues. My work began on the cusp of Y2K when we could see that technology was going to be leveraged in financial services in the future, and we wanted to understand what the possible implications of that might be. We had several conversations with our community bank constituents who were talking to us about how their service providers that were customarily providing them services on the back end had begun to offer services on the front end to their customers, and they were very uneasy about what they felt was competition from non-bank entities for customers that the banks perceived as their own. So we started doing work on non-banks at that point. We were also looking at issues around ATM and debit networks because those were very nascent industries and the networks didn't communicate with each other. Another big issue we were drawn to was interchange - every time you swipe a card, especially a credit card, it costs the merchant money to accept a credit card payment, and there have been disputes for decades now between merchants and Visa and MasterCard about the fees they charge. Since that time, I've been involved in other endeavors like the work that led up to offering instant payments where financial institutions can now send money instantaneously. I was involved in the groundwork that went into that decision to move that direction for the payment system, and then ultimately for the Fed to offer its FedNow service.

Her Interview

Ten minutes with Terri

01What do you attribute your success to?

I attribute my success to the people in the organization that I work for and with. Throughout my career, I've had the support of mentors like Barb Pacheco, who challenged me, encouraged me, and supported me, and that just really made a world of difference throughout my development. I also had the leadership of Esther George, who was the president of our bank. She was a strong leader with a very personal approach. She was approachable, she met people where they were, but she led, and I appreciated that about her. Additionally, Fumiko Hayashi, an economist on the team that I work with, has been invaluable. She has a way of clarifying a topic that is very beneficial. I tend to think about things from an application kind of perspective, and she is more empirical about it, so she helps me to distill my thoughts in a way that makes them crisper. She's a really good sounding board for ideation and she's brilliant, actually.

02What’s the best career advice you’ve ever received?

The best career advice I've ever received is to never stop learning. This has been fundamental to my career, especially given how technology is constantly changing the way that processes work and services are offered. It's a lot to keep up with and wrap your brain around, but it also provides the opportunity to think about how those processes and services can elevate services or opportunities to provide services to individuals in ways that are very beneficial.

03What advice would you give to young women entering your industry?

I would say to find something that they're passionate about and explore it from many different angles. On the surface, you wouldn't think that a business degree would have me doing the work that I'm doing, but you find a topic or something that you have a passion for, and then you can just kind of dig in, and you can marry your interests with what your role is and produce something that's beneficial to both you and to the organization.

04What are the biggest challenges or opportunities in your field right now?

I think the challenge and the opportunity may be one and the same. The way that technology is just really changing the way that processes and processes work and services are offered, so it's a lot to keep up with and wrap your brain around. But then you have the opportunity to think about how those processes and services can elevate services or opportunities to provide services to individuals in ways that are very beneficial. So you can really be challenged by the pace of change, but there's also an opportunity for that change to benefit and learn from it and be able to benefit in any other way possible.

05What values are most important to you in your work and personal life?

I think integrity is uppermost, and a genuine concern for the well-being of others. These values guide both my professional work and my personal interactions.

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