Tagged: fednow

July 19, 2023 @ 9:29 am By JD Alois  |  

Temenos (SIX: TEMN), a banking as a service provider, has been certified for FedNow, according to a statement from the company. FedNow is a new transfer service providing instant movement of funds, provided by the US Federal Reserve. The FedNow Service will be available to… Read More

July 16, 2023 @ 12:47 pm By Tony Zerucha  |  

Adyen, a global fintech platform, is among the first to complete testing and receive certification to utilize FedNow, the Federal Reserve’s instant payment infrastructure that is launching this summer. The news comes two years after Adyen obtained a U.S. banking branch license. In a release,… Read More

June 26, 2023 @ 6:44 pm By JD Alois  |  

Financial tech provider Finastra says it has been approved for the new FedNow Service launching in the next few weeks. FedNow is a US government initiative to power real-time payments. The service will be integrated into Finastra’s Payments To Go platform and will later be… Read More

May 17, 2023 @ 8:18 am By Omar Faridi  |  

Jack Henry (Nasdaq: JKHY) announced that it is operationally ready to support the launch of the Federal Reserve’s real-time payments network, the FedNowSM Service. Jack Henry has actively “participated in the development of the newest network, expected to launch in July 2023.” More than 20… Read More

April 17, 2023 @ 5:28 pm By Omar Faridi  |  

Volante Technologies, the global firm focused on cloud payments and financial messaging,  announced that it is empowering SouthState Bank “to deliver faster and more flexible payment options to its one million customers via The Clearing House RTP platform and Federal Reserve Financial Services’ FedNow Service.”… Read More

March 16, 2023 @ 7:09 pm By JD Alois  |  

FedNow, the US Federal Reserves – a near real-time transfers platform that will soon be made available to all banks in the United States, will enable individuals and businesses to move their money in a frictionless manner. In development for years, FedNow is currently scheduled… Read More

March 16, 2023 @ 8:54 am By JD Alois  |  

The FedNow Service will commence operations this coming July, according to a statement by the US Federal Reserve. FedNow is an effort to facilitate instant payment services by financial institutions 24/7/365. Currently, most transactions provided by legacy financial institutions can take days. Both businesses and… Read More

February 8, 2023 @ 2:47 pm By Omar Faridi  |  

Sionic, a provider of omni-commerce, faster digital payments solutions, today announced it is launching a suite of new, trust-based services “to address the significant challenges facing faster payments in the U.S. whether on The RTP® Network or upcoming FedNow™ bank rails.” The services are “designed… Read More

September 1, 2022 @ 1:10 pm By Omar Faridi  |  

The Federal Reserve has reportedly changed the timing of the introduction of its real-time payments solution, called FedNow, to the middle of 2023. The US Federal Reserve is aiming for a full-scale production rollout of the new payments service for somewhere between May and July… Read More

July 21, 2022 @ 8:43 am By Omar Faridi  |  

UL Solutions, which claims to be global leader in applied safety science, announced its collaboration with Iliad Solutions, a company that helps test and launch payment solutions. The collaboration “combines independent third-party services from UL Solutions with Iliad’s testing platform to offer optional support features… Read More

May 5, 2022 @ 2:38 pm By Omar Faridi  |  

The Federal Reserve recently reported that it officially began onboarding pilot participants onto the FedNow Service, “signaling that the initial testing phase of the FedNow Pilot Program is underway.” A few organizations have now successfully “connected and delivered test messages over a pilot version of… Read More

January 26, 2021 @ 8:38 pm By JD Alois  |  

The US Federal Reserve has announced that more than 110 organizations will participate in the FedNow Pilot Program. FedNow is a payments initiative to speed up payments and transfers. A consultation with a variety of stakeholders took place in 2018 with the concept of FedNow… Read More

August 7, 2020 @ 10:29 am By Omar Faridi  |  

The US Federal Reserve, which is the central banking system of the country, has reportedly been working on a new real-time payment and settlement system, called FedNow. Governor Lael Brainard claims that the Fed plans to have FedNow fully operational as soon as possible. Brainard… Read More

August 21, 2019 @ 5:59 pm By JD Alois  |  

Faster payments and electronic transfers is a hot sector of Fintech. For quite some time, traditional banks sat on the sidelines watching Fintechs push into their business. Today, they are stepping things up but questions remain as to whether or not old finance has the… Read More

August 12, 2019 @ 6:12 pm By JD Alois  |  

Popular money transfer service Venmo is polishing its money movement cred today. In a blog post, Venmo claims it will transfer your money in “minutes.” Venmo states: “This may sound familiar- and it is. Last year we launched Instant Transfer via debit card, allowing users… Read More