RTP® versus FedNow: Where should you start with faster payments?

Between faster payment rails like the Federal Reserve’s FedNow Service, The Clearing House’s RTP®, and even Same Day ACH, there are a growing number of payment options for today’s financial institutions.

Should a Fintech Partner Fuel your Faster Payments Strategy?

A fundamental shift is happening to the banking industry as solutions like FedNow and The Clearing House’s RTP network continue to grow in popularity.

Faster Payments: Flexibility, Strategy Matter as Much as Speed

Real-time payments are expected to see a 29.8% compound annual growth rate (CAGR) through 2026 as  consumers and Real-time payments are expected to see a  as  consumers and Real-time payments are expected to see a  as  consumers and businesses seek faster access to funds and immediate settlement times. This year, the  Federal Reserve’s FedNow service will also launch and further boost adoption of faster payments.

Preparing the Back Office for Instant Payments

As the 2023 launch of the Federal Reserve’s instant payment service approaches, banks and credit unions should carefully examine their readiness for faster payments. This includes adjustments to current treasury and back-office operations. Learn how your financial institution can prepare its back office for instant payments.

The Potential of Real-Time Payment Data

The value in real-time payments goes beyond the ability to move money in seconds. Financial institutions are quickly realizing the potential of the rich data that comes with 24/7 instant payments. Explore ways to make real-time transaction data work for your institution in this blog post.

Fact Check: The FedNow^SM Service Versus Central Bank Digital Currencies

As advancements in tech change the way we transact, there are some compelling innovations being discussed, such as Central Bank Digital Currencies (CBDCs) and not to mention the FedNow^SM Service, the Federal Reserve’s new instant payment offering launching later this summer. The goal of this blog post will be to clarify these emerging payment technologies and digital transaction trends. Ready for a fact check?

Business Members & Faster Payments: What Credit Unions Should Know

As credit unions continue to grow their business membership, they must consider the ways that faster payments can help their business members. After all, adoption of real-time payments is on the rise and it shows no sign of slowing down.

Debunking the Top 5 ISO 20022 Myths

Banks and credit unions need technology that allows their institution to take advantage of all the benefits ISO 20022 has to offer. But first, there are still some misconceptions about ISO 20022 to address.

The Benefits of Faster B2B Payments

Much of the discussion with faster payments centers around person-to-person payments and bill payments, the latter of which will help consumers avoid late fees when making payments right before deadline.  Beyond the advantages of faster payments on the consumer side, there is huge potential for B2B real-time payments.

The Advantages & Disadvantages of the FedNow Service

Through financial institutions participating in the FedNow Service, businesses and individuals can now send and receive instant payments in real time, any time of the day, every day of the year. Like any newly launched technology, there are advantages and disadvantages with the new payment system which this blog will cover.

Where are you on your FedNow Service journey?

It’s important to remember that each financial institution’s path to the FedNow Service will be unique. However, there are some common key decisions and activities many organizations should pursue as they look to provide their customers with this new, instant payment service.