FedNow nears 1,000 financial institutions joining

ATLANTA — Instant payments service FedNow is nearing the addition of its 1,000th financial institution, with the Federal Reserve crediting the growing adoption to a network of fintechs that enable integration. The Fed launched FedNow with 35 financial institutions in July 2023. “We’ve seen a lot of interest,” Federal Reserve Vice President Bernadette Ksepka said.