As real-time payments continue to grow and evolve, the convenience for businesses and financial institutions is already well known. However, when making the case for real-time payments internally, questions must be answered, such as: how can revenue be generated? And what are the benefits (beyond just being faster)?
In this ICBA-hosted panel discussion, Dan Gonzalez, Vice President, and National Account Director, at Federal Reserve Financial Services, and Mark Majeske, SVP, Faster Payments at Alacriti, discuss:
- The business case for why instant payments should be adopted now instead of waiting
- The latest updates on the FedNow® Service
- The ROI of real-time payments
- What community banks should know about operationalizing and monetizing instant payments
- How community banks can educate and promote instant payments to customers
- Lessons learned from financial institutions that have already connected
Exploring the Unique Features of the Fednow Instant Payment Service
Understanding the unique features of the Fednow service for instant payments, including 24/7 availability, quick settlement, irrevocable transactions, and credit push only transfers with network limits.
The Evolution of Instant Payments in Financial Institutions
Unlocking the Value of Instant Payments for Financial Institutions
Exploring the benefits and tools for financial institutions to transition into instant payments, focusing on return on value and new revenue streams.
The Influence of Earned Wage Access on Attracting Workers and Financial Empowerment
Promoting Instant Payments for Modernization and Efficiency
Enhancing Core Integration for Streamlined Transactions
Comprehensive Documentation and Training for New Processes and Products
Full Video
Related Resources
Speakers
Mark Majeske
SVP Faster Payments, AlacritiAs Senior Vice President of Faster Payments at Alacriti, Mark leads the overall corporate faster payments strategy and product development of the Orbipay Payments Hub. Mark also currently serves in the Faster Payments Council Board Advisory Group. Previously, Mark led product development for the RTP® network, the FedNow® Service, and Zelle® at FIS. In addition, Mark was part of the team that designed, developed, and launched the RTP network at The Clearing House.
Dan Gonzalez
Vice President and National Account Director for Federal Reserve Financial ServicesDan Gonzalez is vice president and national account director for Federal Reserve Financial Services (FRFS) heading the FRFS National Account Program and is based out of the Federal Reserve Bank of Chicago. Gonzalez’s responsibilities include collaborating and engaging with the payments industry to define and prioritize system improvements that advance payment speed, efficiency, and security. He has overall responsibility for the Federal Reserve’s Financial Services relationships with the top 27 financial institutions in the country, as well as payment networks and service providers. He has over 30 years’ experience in payments, sales, marketing and management in the financial services industry.
