News & Insights

With the FedNow^® Service by the Federal Reserve and the RTP^® Service by The Clearing House, financial institutions have a way to move funds instantly. At the center of this transformation is Send, the capability that allows institutions to push payments instantly, 24/7/365.

Member expectations have shifted. Money now moves in seconds, not days. Payments happen across apps, devices and a plethora of digital channels, often outside your credit union’s ecosystem. Modernizing payments isn’t optional anymore. It’s a strategic priority.

The launch of the FedNow® Service in 2023 marked a watershed moment in the evolution of payments infrastructure in the United States.

The FedNow® Service is a new instant payments rail that will redefine the way your members make payments. The FedNow Service represents the first new payment platform introduced by the Federal Reserve since the inception of ACH back in the early 1970s. This new payment network is designed to seamlessly facilitate instant payments throughout the United States.