If you look at the evolution of payments, it's always been about faster and cheaper. This past July, payments got a lot faster and a lot cheaper when the Fed introduced its FedNow instant payment service. Unlike Zelle, FedNow transactions settle instantly. And unlike RTP, the FedNow service is intended for institutions of all sizes, not just the mega banks.
The question is: Where and how does your credit union get started on its FedNow journey?
To help credit unions sort it all out, our friends at Samaha and Associates just published a white paper called "FedNow: The Future of Real-Time Payments. Why Credit Unions Can’t Be Fast Followers." In this episode of TechSolutions4CUs, listeners will get a sneak peek at that white paper. That’s because we’re fortunate to have with us from Samaha and Associates Nubia Valenzuela and Sabeh Samaha to share their thoughts and expertise.