Insights from Catalyst

What is the difference between the soon-to-launch FedNow℠ Service and other instant payments services? What is ISO 20022? How should my credit union prepare for the FedNow Service? Attendees generated more than 20 questions, including these, at Catalyst Corporate’s first no-cost Faster Payments Essentials webinar last week.

The U.S. debt ceiling situation has dominated news headlines the last few weeks, but the Treasury has been robbing Peter to pay Paul since January to meet its obligations. With time quickly running out, what are the possible implications for credit unions?

When considering interest rate risk exposure, it’s important to evaluate whether or not the Fed is done raising rates. If we assume they are not done, how high do rates need to rise to accomplish the Fed’s goals? If rates increase accordingly, how much more will mortgage rates rise?

Today, 80% of American consumers believe speed, convenience and ease of payment are the most important elements of a positive customer experience, according to a study by PwC. Members desire more flexible banking options at their fingertips, whether it’s 24/7 access to services or on-the-go capabilities from their phone or computer.

The payments industry is ever-changing. There is a growing need for faster, seamless payments as new technology and competitors emerge. Until recent years, however, there had been no united payments industry effort to provide additional alternatives for instant transactions. All of that is now on the cusp of change.