Webinar

FedNow Service: What’s Coming in 2023

Posted on 28 Nov 2022


The FedNowSM Service is an instant payment service created by the Federal Reserve Banks to provide safe and efficient instant payment services in real-time, 24/7/365. With the targeted release of the FedNow Service narrowed down to May-July 2023, there are certainly a lot of questions surrounding it.

In this ICBA hosted webinar, community banks had the chance to hear directly from FedNow. If you missed the FedNow Launch Webinar Series, this is a good opportunity to get a lot of information in a short amount of time. Joni Hopkins, Vice President, Product and Relationship Management Group at Federal Reserve Financial Services, and Mark Majeske, SVP Faster Payments at Alacriti, discussed:

  • An overall update from the Federal Reserve
  • Plans to achieve ubiquity
  • What will be available upon launch
  • Features and functionality of the FedNow Service
  • Details on anticipated FedNow Service pricing
  • How community banks can prepare for and connect to faster payments
  • More on fraud prevention, funding agents, and the user experience
  • Alacriti’s Early Adopter Program, which provides savings and benefits for community banks connecting to the FedNow Service