The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.
Aug. 11, 2023
The Federal Reserve said it is hosting a town hall meeting this month on the FedNow Service.
Webinar Details: Scheduled for 2 p.m. (Eastern time) Thursday, Aug. 31, the 90-minute webinar will feature panel discussions with financial institutions that are live on FedNow. The webinar will cover launch experiences, use cases, and what’s next for FedNow.
ICBA Blog Post: A recent ICBA blog post recaps the decade of work that led to the recent launch of FedNow and looks ahead at the path to faster payments. Following the launch, ICBA commended the Fed and said the service is a crucial milestone for payments transformation.
Resources: More information on FedNow is available via a recent Independent Banker magazine article on how it differs from other instant payments tools, a separate Independent Banker guide for community banks, and ICBA Bancard’s instant payments resource center.
