In July 2023, the Federal Reserve launched FedNow, the U.S.’s first publicly operated instant payments rail. This groundbreaking service is already reshaping how financial institutions process, reconcile, and manage payments.
Unlike traditional ACH transfers that can take days, FedNow enables real-time payments, 24/7/365. However, this unprecedented speed introduces significant operational challenges, from liquidity management and reconciliation to the need for infrastructure modernization.
What You’ll Learn in Our Whitepaper:
- How FedNow differs from existing RTP (Real-Time Payments) players like Zelle and Venmo.
- Where banks and credit unions must evolve across their finance, operations, treasury, and technology departments.
- Strategies to ensure operational efficiency with instant, scalable reconciliation processes.
- Why automation and data agility are critical for maintaining a competitive edge in the new payments landscape.
Featuring insights from AutoRek, a FedNow Service Provider Showcase participant, this essential whitepaper provides a clear roadmap for financial institutions. It shows you how to not just survive the shift to real-time payments, but to lead it.