FedNow to launch in July
The Federal Reserve announced its FedNow service – which will allow participating credit unions the ability to send and receive real-time payments – will start operating in July. NAFCU has long supported the Fed’s involvement as an operator of a new, real-time payments rail.
Formal certification of participants for launch of the service will begin the first week of April. Early adopters will complete a customer testing and certification program, informed by feedback received during the FedNow Pilot Program, to prepare for sending live transactions through the system.
In June, the Fed and certified participants will conduct production validation activities to confirm readiness for the July launch.
NAFCU will continue to advocate for development of robust risk management tools, safeguards, and end-user features to promote FedNow adoption.
Leadership, Growth & Retention
Add to Calendar 2023-09-27 14:00:00 2023-09-27 14:00:00 Financial Services Mega-Trends: Welcome to a Whole New World of Financial Services About the Webinar A transformation is underway in the U.S. financial services industry that will have a profound impact on how participants do business, how they strategize about their futures, and how they collaborate around products, service and information. During this session, Cynthia Schroeder, Larry Pruss, and Patti Wubbels will highlight mega-trends worth watching. Key Takeaways: • How the financial services business model is changing • How new entrants are disrupting the industry through innovation • How technology is changing the nature of financial services delivery and distribution • How demographic shifts require credit unions to adapt their cultures and value propositions to gain market share among younger members • How credit unions must adopt a security-first mindset to protect their reputations and the data of their members Register Here Web NAFCU firstname.lastname@example.org America/New_York public
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