Real-time payments (RTP) and FedNow adoption are crucial for banks to remain competitive and meet evolving customer demands for instant payments, which offer benefits like better cash flow, improved customer relationships and new revenue opportunities through request for payment (RFP) services. While the urgency for banks to accelerate adoption and be future-ready is clear, they face challenges with real-time transactions that include fraud prevention, operational integration and network competition. The roundtable discussion will consider how quickly banks should be integrating RTP and FedNow payments into their offerings, liquidity management and fraud prevention strategies, and models to monetize instant payments beyond transaction fees.
