The FedNow Implementation Journey for Banks

The FedNow Implementation Journey for Banks

The FedNow initiative aims to meet these expectations by offering an instant payment system that is available to everyone, regardless of the financial institution they use.

Woman smiling while using a smartphone to make an online payment, holding a credit card in her hand. — Image of a woman engaging in an online transaction using her smartphone and credit card, highlighting digital payment convenience and security.

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Woman smiling while using a smartphone to make an online payment, holding a credit card in her hand. — Image of a woman engaging in an online transaction using her smartphone and credit card, highlighting digital payment convenience and security.

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Be a step ahead

Be a step ahead

Opportunities

FedNow presents a significant opportunity for financial institutions to differentiate themselves and provide a better customer experience within the digital payments' space

Investment

FedNow integration will require investments in technology, infrastructure and cybersecurity

Implementation

It goes well beyond than just exposing existing systems to external communication

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FedNow presents a significant opportunity for financial institutions to differentiate themselves and provide a better customer experience within the digital payments' space.

Learn more about the implementation journey for this initiative in this PoV.

Why adopting FedNow is an important strategy for your bank

Benefits & Challenges

Comparison chart showing key differences between FedNow, Venmo, Zelle, and RTP regarding open networks, cost-effectiveness, real-time settlement, funding requirements, and coverage. — Visual comparison of FedNow, Venmo, Zelle, and RTP, highlighting differences in network openness, cost, real-time settlement, funding, and financial institution coverage.

GFT's Payments Solutions

Data uncovered

GFT was instrumental in the debates leading up to formulating the structure and data security strategy, successfully participating in the implementation of instant payment initiatives in different markets, such as Brazil and in Europe.

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A woman standing against a digital screen at night, using her smartphone. The screen's light reflects on her face and the surrounding area, creating a modern, tech-savvy ambiance. — The image showcases a woman leaning against a digital screen in an urban setting at night. She is engrossed in using her smartphone, symbolizing the integration of technology into everyday banking activities. The digital screen's light reflecting on her face highlights the seamless blend of digital and physical banking experiences. The city lights in the background add to the dynamic and contemporary feel of the image, representing the future of banking where digital convenience meets real-world interactions.

GFT's Banking Solutions

A business professional holding a tablet and looking thoughtfully out of a window, symbolizing strategic planning and modern technology in a corporate setting. — Curious about the FedNow Service? Explore expectations for the first version on our US blog. Stay informed on real-time payments.

On the FedNow service: what to expect from the first version

Silhouette of a woman standing in front of a bright screen, surrounded by digital patterns of purple light, symbolizing the intersection of technology and human presence. — Image depicting the silhouette of a woman against a backdrop of glowing digital patterns, representing the blend of human and digital worlds in a futuristic, technologically advanced environment.

Data Uncovered