The official launch of the Federal Reserve’s FedNow platform on July 20 culminated a four-year undertaking by the central bank.
While the payments world didn’t change overnight, the launch has raised the potential for new use cases. I previously shared my thoughts on what financial institutions should consider in terms of real-time payments.
Topics: Payments, Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, FedNow, Real-time payments, RTP Network
While community bankers were already weighing options on core processing and digital solution strategies before the pandemic, these decisions weigh heavily enough now to quickly tip the scales of survival. We’ve already shared our thoughts on how the “shelter in place” environment and its aftermath gave a serious jolt to any bank or credit union leader still on the fence about the importance of a robust digital backbone.
Topics: Digital Banking, Contract Negotiation, COVID-19, Core Systems, Core Platforms, Core Processing
Sports are one of America’s greatest pastimes, and anyone spending even half an hour watching them will likely exclaim, “How did that player do that?” Indeed, with the help of science, today’s athletes are dieted and trained to have bodies “made” for their sport. Modern athletes can achieve heights not previously seen. However, science alone does not guarantee the modern athlete’s success.
Topics: Vendor Contract Management, Vendor Cost Benchmarking, Contract Negotiation
