Your customers are demanding faster payments and the ability to provide it to them creates a big win for your bank. PCBB's insights paper, Getting Started with Faster Payments and FedNowSM, helps you prepare for faster payments and explores FedNow as an option.
Getting Started with Faster Payments and FedNow
March 01, 2023 / By ICBA
Your customers are demanding faster payments and the ability to provide it to them creates a big win for your bank. PCBB's insights paper, Getting Started with Faster Payments and FedNowSM, helps you prepare for faster payments and explores FedNow as an option.
The ability to make and settle payments in real time provides your customers with the ability to make timely payments and have access to immediate funds. Flexibility is crucial when supply chain issues and other unexpected headaches can make your customers’ lives more difficult. Moreover, small businesses see it as a way to automate operations and satisfy their own customers. Community banks should be preparing for faster payments now.
In this paper, Getting Started with Faster Payments and FedNowSM we explain how your bank can prepare for instant payments. We highlight several payments options and take a detailed look at the FedNowSM Service platform.
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