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Faster Payments Explained: Demystifying Same Day ACH, RTP®, & FedNow®

What is a faster payment and what are your options? Navigate the nuances of Same Day ACH, RTP®, and FedNow® payment systems to discover their unique offerings and discern which aligns best with your institution's needs.

OnDemand
Recorded Wednesday,
July 24th, 2024
Presented by Kevin Olsen
1h total length
1.2 APRP Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

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  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
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  • Internal Auditor
  • Risk Manager
  • Training Manager
  • Trainer

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In the dynamic landscape of electronic payments, understanding Same Day ACH, RTP®, and FedNow® becomes crucial for any forward-thinking financial institution. While these systems share the common goal of expediting payments, they differ substantially in their modalities, transaction limits, and functionalities. With FedNow® emerging with distinctive features like a lower transaction cap and specialized liquidity management tools, the need to comprehend these systems in-depth has never been greater. This webinar, led by the Payments Professor, will dissect these payment platforms, elucidating their workings, benefits, and distinctions. By the end, attendees will gain clarity on the system best suited for their institution's ambitions and client demands.

What You'll Learn

  • Insights into the mechanics of Same Day ACH, RTP®, and FedNow®
  • Transaction limits and unique offerings of each system
  • Significance of liquidity management tools in FedNow®
  • Comparing the three payment methods
  • Strategies to integrate systems with existing banking offerings
  • Basic clearing and settlement basics in faster payment channels

Who Should Attend

This webinar is pivotal for banking and credit union professionals aiming to stay abreast of the latest payment methods. It is particularly recommended for Operations Managers, Digital Strategy Professionals, Innovation and Product Development Teams, and Training and Development Departments.

Kevin Olsen

Instructor Bio

Kevin Olsen is the Payments Professor bringing enthusiasm and motivation to presentations. Viewing the world as a classroom which is exemplified in the professor’s “edutainment” (when education is motivating, informative, and fun) style of training as he seeks to educate and inform all on the latest developments and trends in the fascinating world of electronic payments Kevin develops programs, presentations, and articles designed to orient and educate financial professionals on a multitude of electronic payment topics. Kevin is also a certified business coach helping lead organizations to innovate and communicate in the ever-changing world of payments, including building of payment strategies with a focus on product development and use cases for faster payments (RTP & FedNow).


Among his many certifications, Kevin is an Accredited ACH Professional (AAP), an Accredited Payments Risk Professional (APRP), an NCP (National Check Payments Certification) as well as an NCP Certified Trainer and a Certified High-Performance Coach (CHPC), and holds a masters in industrial organizational psychology from Liberty University.

Continuing Education Credit Information

Faster Payments Explained: Demystifying Same Day ACH, RTP®, & FedNow® has been approved for 1.2 APRP renewal credits by Nacha. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at Nacha.

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