ABA Bank Journal Advertorial
February 4, 2025
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FedNow Eblast Jan - 2025
7 Lessons Learned by
FedNow® Service Participants
Since the FedNow Service launched in July 2023, more than 1,200 financial institutions across the U.S. have joined the network. These leading-edge organizations have learned plenty of valuable lessons along their instant payment journeys. Here are some that participants have shared:
Getting started now has added benefits
Enabling send and receive together can save time and resources
It's OK to start small and grow
Around-the-clock staffing isn't necessarily needed
It can be easier to reconcile with the FedNow Service than other faster payment services
You'll want to ask correspondents and service providers what reports will be available
Make sure service providers can support your instant payment plans
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