The Federal Reserve’s FedNow real-time rail debut is imminent.
Financial institutions (FIs) including banks and credit unions have been using services from Zelle to rails like the RTP Network from The Clearing House (TCH).
Jim Colassano, SVP, RTP product management at The Clearing House; Meghan Oakes, VP head of products and services enterprise payments Americas at FIS; and Dan Baum, head of payments product, FedNow said the stars are aligning to move money faster, across a variety of use cases, appealing to a wide swath of users.