FedNow, the Federal Reserve’s instant payments system, wrapped up 2024 with more than 1,000 financial institutions participating, and 68% of community banks offering or planning to offer FedNow, according to the latest Independent Banker magazine.
Independent Banker details how banks can leverage FedNow
April 15, 2025 / By ICBA
FedNow, the Federal Reserve’s instant payments system, wrapped up 2024 with more than 1,000 financial institutions participating, and 68% of community banks offering or planning to offer FedNow, according to the latest Independent Banker magazine.
FedNow, the Federal Reserve’s instant payments system, wrapped up 2024 with more than 1,000 financial institutions participating, and 68% of community banks offering or planning to offer FedNow, according to the latest Independent Banker magazine.
Details: The article shares tips from those who have successfully implemented FedNow, including:
Leaning on third-party providers.
Starting with receive functionality.
Developing implementation plans.
Identifying cases that offer value.
Talking to peers.
More: The April edition of Independent Banker also includes a recap of ICBA LIVE, an interview with ICBA’s new board, and articles on advocacy, check fraud, advertising, and payments.
Access: The magazine is available on the Independent Banker website and via the digital edition. Community bankers also can subscribe to Independent Banker’s newsletter to receive the magazine via email.
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