Federal Reserve Bank of Boston
Planning for FedNow Service Adoption
Wednesday, December 8th | 10:20 am ET
The FedNow Service is a new instant payment service that the Federal Reserve Banks are developing to enable financial institutions to provide safe and efficient instant payment services in real time, 24x7x365. FedNow’s scheduled launch date is in 2023.
Financial institutions and their service providers will be able to use FedNow as a springboard to provide innovative instant payment solutions to their customers, creating greater customer satisfaction and loyalty, and gaining competitive strength in an ever-changing payments landscape.
Whether your organization is already on the instant payment path, or just starting to plan your journey, we want to help you – and your customers – get ready for this exciting new change in payments and plan for your FedNow Service adoption.
Thomas Goodman is a Senior Account Executive with the Federal Reserve Bank’s Customer Relations and Support Office. Tom is responsible for building and strengthening relationships with financial institutions and for marketing to banks and credit unions the Fed’s financial services, such as funds transfer, ACH, share draft clearing (including check 21 services) and FedNow (the Fed’s new 24x7x365 instant payment service to be launched in 2023).
Tom joined the Fed in 1993 and has thirty years of experience in the financial services industry. He has a strong background in payments, correspondent banking, mergers/acquisitions, and customer relations.