Lena Petrova says what she is about to share went virtually unnoticed. The Federal Reserve just announced that it is now launching FedNow in July of this year. In foreign countries trial roll outs have been performed with instant banking. It's several months away and nobody can do much about it. Popularity 24,077 on views Mar 17, 2023.

Surprisingly we don't care about it. The financial sector crisis has gone on for a week now. FedNow is instant payment and will change banking. We reiterate our view that FedNow will represent a material change on how consumers use electronic money. Every bank and credit union will offer the service. It's a leading-edge payments system  that is resilient, adaptive and accessible, said Tom Bankin, president of the Federal Reserve of Ricmond and FedNow executive sponsor. Mirrored