FedNow is Coming: Is Your Institution Prepared?

FedNow is Coming: Is Your Institution Prepared?

The FedNow Service developed by the Federal Reserve is soon to launch. Financial Institutions of every size will soon have the ability/be required to conduct instant payment services for their customers.  ACH will become obsolete and fraud will run rampant.

Positives and Negatives of FedNow


Speed and Availability: Deposit and withdrawal of funds in seconds.  24/7/365.

Enhanced Reporting: Transaction details are instant with real-time reconcilement.

Modernized Payment: Mobile payment and transactions in real-time.

ACH a thing of the Past: Smaller institutions no longer need to rely on ACH to conduct business.


Speed and Availability: No time to detect fraud as it’s happening.

Enhanced Reporting: Transactions reconciled will include fraudulent activity. Potentially missed.

Modernized Payment: Mobile payment and transactions ripe for fraud with no-wait transfers.

Fraud Prevention Tools Obsolete: Most fraud prevention and detection tools do not operate in real-time.


Now is the time to prepare for FedNow.  Real-time settlement will reduce a bank’s ability to use their current fraud-prevention measures.  The new world of FedNow’s real-time banking requires real-time fraud detection and prevention.




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ToolCASE will get your banking institution prepared for FedNow.  Our real-time fraud detection and prevention services can interact directly with all of your data channels and integrates seamlessly with both your fraud team and FedNow.