The Financial Institution Learning Center

A banking blog that answers the industry's top questions and problems.

FedNow Service Instant Payments

How Financial Institutions Can Safely Embrace FedNow

Image of Sean De Visser
Sean De Visser

The Federal Reserve's FedNow Service, a real-time payment and settlement service, presents substantial opportunities as well as a series of challenges for financial institutions. Operating 24/7/365 allows instant access to funds, transforming the transaction experience. This article critically evaluates the potential benefits, risks, and risk mitigation strategies for offering this service.

Read More
One hundred dollar bills pilled on top of each other

How Financial Institutions Can Stay Profitable in a Shifting Economy

Image of Tricia Anderson
Tricia Anderson

In December last year, FDIC acting Chairman Martin Gruenberg warned that higher inflation, higher interest rates, and geopolitical uncertainty could reduce bank profits in 2023. No one has a definitive forecast, but clouds of a possible recession also continue to appear on the horizon. In this uncertain economic climate, how will your financial institution prepare to weather the possible storms?

Read More
Man using phone for mobile banking

7 Mobile Banking Features That Are Essential to Improving Your Customers’ Experience

Image of Karen Todd
Karen Todd

Especially since the pandemic began, consumers are demanding more and better electronic banking options. According to recent research conducted by Citizens Bank, “Most consumers now choose their banking partner based on mobile and online banking capabilities, with 40% of consumers saying it was the most important factor, while only 27% cite the convenience of physical branch locations as the most important factor.” 

Read More