Tag: FedNow
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Fiserv lines up FedNow clients
Fiserv, a leading provider of financial technology solutions, has recently announced a number of financial institutions that have signed on to use their services for the upcoming FedNow instant payment platform. The Federal Reserve’s FedNow Service is set to launch in 2023 and will allow for real-time payments to be made between financial institutions 24/7,…
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FedNow draws some banks, as others lag
The introduction of the Federal Reserve’s new instant payment system – FedNow – has seen a mixed response from the banking sector. While some banks have enthusiastically embraced the platform, others have been slower to adopt it, causing a disparity in its implementation across the industry. FedNow, which was announced in 2019 by the…
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Fraud emerges as concern for FedNow users
Fraud Emerges as Concern for FedNow Users By [Your Name] Faster payment systems have become increasingly popular, providing users with quick and convenient ways to transfer money. However, this new wave of easy and immediate transactions also brings along concerns, and fraud has emerged as a significant worry for users of the Federal Reserve’s FedNow…
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FedNow may have spurred RTP adoption
In recent years, the financial world has witnessed a significant rise in real-time payment (RTP) adoption. The rapid growth and demand for faster payment solutions have been primarily driven by technological advancements and shifting consumer expectations. However, one crucial factor that may have played a pivotal role in fueling the widespread adoption of RTPs is…
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Jack Henry lands more FedNow clients
Jack Henry & Associates recently announced that they have secured additional clients for the upcoming FedNow service. The FedNow service, offered by the Federal Reserve, is a new instant payment and settlement system that aims to modernize the US payment infrastructure. Jack Henry is a leading provider of technology solutions and payment processing services…
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Fed’s Waller pushes back on criticism of FedNow’s adoption rate
The Federal Reserve’s FedNow instant payment system has been under scrutiny recently due to slower-than-expected adoption rates. However, in a recent press conference, Fed Governor Christopher Waller defended the new system and addressed the concerns surrounding its adoption rate. The FedNow system was envisioned as a real-time payment platform that would enable consumers and businesses…
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Orum uses FedNow to launch account verification tool
Orum, a leading financial technology company, has recently announced the launch of their new account verification tool, leveraging the power of FedNow. Introduction to Orum: Orum is a fintech company dedicated to developing innovative solutions that enhance financial transactions for individuals and businesses. Their mission is to simplify and streamline monetary exchanges, making them faster,…
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Is FedNow pivotal for payments or overhyped?
Is FedNow Pivotal for Payments or Overhyped? In recent years, the US payments landscape has witnessed a multitude of developments aimed at enhancing the speed and efficiency of transactions. One such major initiative poised to transform the industry is FedNow. Introduced by the Federal Reserve, FedNow is a real-time payment network designed to enable instant…
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CGI completes FedNow Service certification
Driving innovation in the US banking sector CGI, a leading global provider of IT and business consulting services, has announced the successful completion of the certification process for the Federal Reserve Bank’s newest payment system, FedNow® Service. This achievement positions CGI at the forefront of driving innovation in the US banking sector. The FedNow…
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Fed officials tout FedNow, seek adoption
The Federal Reserve has recently been advocating for the wider adoption of its new real-time payment system-called FedNow. The service, currently in development, aims to modernize the US payment infrastructure and provide faster payment capabilities to individuals and businesses alike. Considering the rise of digital transactions and the growing need for quick…