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FedNow: What Happens Next…? Mick Fennell from Temenos | FF Salon at Sibos 2023
From the FF Salon at Sibos 2023 we speak to Mick Fennell, Business Director for Payments at Temenos, who fills us in on the changes happening in the US payments space following the launch of FedNow. There is increased appetite in financial services to offer instant payments and of course embed it in third party products. The question Fennell offers for those organisations is, ‘where is the long term ROI coming from?’
We also hear about further changes on the horizon, particularly in the correspondent banking space and how at Temenos, they’re helping companies to migrate to the cloud and build exciting new features for the end user.
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