Browsing: Faster payments


The Federal Reserve yesterday said that its FedNow service will be ready to launch in 2023. The Fed previously indicated that the service would be ready sometime in 2023 or 2024.


In a new survey from Providence, Rhode Island-based Citizens Financial Group, business leaders said that a bank’s ability to provide access to real-time payment and settlement services was the second-most-important factor when choosing a banking partner, after a bank’s ability to provide solutions throughout the business life cycle.


The Federal Reserve today released more details about its forthcoming FedNow service to provide real-time payments settlement and clearing, including phased elements of the FedNow service.

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