As the Federal Reserve poised to launch its FedNow instant-payment service, Treasury & Risk spoke with Bob Stark, the global head of market strategy for Kyriba and a long-time commentator on the progress of treasury technologies. FedNow, which represents a major development in the U.S. payments landscape, went live a week ago. Now, businesses that may be interested in using the service should be evaluating their options and preparing to incorporate FedNow instant payments into their processes.
In the first part of our conversation, Stark explained the benefits of instant payments and the differences between FedNow and the Real-Time Payments (RTP) network from The Clearing House, which has been available for several years. In this continuation of the discussion, he addresses what corporate treasury groups should be doing to add FedNow to their payments portfolio.
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