The Financial Institution Learning Center

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

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FedNow Service Instant Payments

How Financial Institutions Can Safely Embrace FedNow

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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.

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