The Federal Reserve's FedNow service has been in the works for years. The instant-payment settlement platform provides an alternative to the Real-Time Payments (RTP) network from The Clearing House, and it just went live this morning. The Fed also announced that 35 banks and credit unions are early adopters, and 16 service providers (including Kyriba) are ready to support instant-payment processing.
To better understand how organizations should be preparing for the launch of FedNow, Treasury & Risk sat down with Bob Stark, the global head of market strategy for Kyriba and a long-time commentator on treasury and payment innovations. Note that our conversation happened before FedNow went live.
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