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Philip Sprague is an assistant vice president at the Federal Reserve Bank of Boston for the FedNowSM Service Program, with responsibility for developing and executing the FedNow industry readiness strategy to meet and exceed FedNow business case targets. In this role, he drives service adoption, volume, new use-cases and innovative business models in partnership with the product team and the Customer Relations and Support Office. Philip also works directly with the technology teams to ensure design, development, and execution of the Salesforce onboarding platform.

Prior to joining the Bank, Philip worked at Wells Fargo where he served as the senior vice president responsible for leading core and emerging payments products as part of the deposit payments and money movement team. In this role, he was the business leader responsible for the launch and growth of Zelle, the re-imagination of Wells Fargo Bill Pay, and Wells Fargo Direct Pay for Small Business. As a part of his responsibilities, Philip ensured connectivity with key industry partners, including Early Warning Services, Fiserv, MasterCard/RPPS, and FIS.

During his time at Wells Fargo, Philip established a not-for-profit cross-industry organization called PayCLT to create a center of excellence around emerging payments, educate the community on the latest trends, and showcase payment-related businesses and talent in the Charlotte area.

Philip holds a bachelor’s degree in finance from Rochester Institute of Technology.