According to new Federal Reserve Financial Services surveys, U.S. businesses and consumers are rapidly adopting digital, faster and instant payments. Overall, 86% of businesses and 74% of consumers said they used faster or instant payments in 2023.
Davis Bancorp, a protective services and cash-in-transit company with more than 50 years in the armored car industry, is an advocate for the Cash Visibility industry initiative. As an early adopter, they have been using the Federal Reserve’s E-Manifest Service since April 2023.
On May 3, 2024, the Federal Reserve Board announced in a Federal Register notice that it requests comments on a proposal to expand the operating days of the Fedwire Funds Service and the National Settlement Service (NSS) to include weekends and holidays.
The Federal Reserve has begun to offer application programming interfaces (APIs) that provide our financial institution customers programmatic access to information services, providing greater flexibility and efficiency opportunities for managing daily operations.
As the FedNow
The Customer Relations team for Federal Reserve Financial Services (FRFS) is on the front lines of engaging with more than 9,000 financial institutions across the country. Meet Triandos Luke, one of this team’s many “faces of the Fed.”
