FedNow’s Faster Payments Initiative Poses Risks and Opportunities for Banks, Says Moody’s Analyst
The upcoming launch of the Federal Reserve‘s FedNow instant-payment system in July could have both positive and negative implications for banks, particularly smaller ones, according to Moody’s analyst Stephen Tu. FedNow will provide consumers and businesses with faster payment capabilities and increase competitiveness for smaller banks, it may also lead to potential risks and challenges … Read more