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.
