About Nick Stanescu

Mr. Nick Stanescu is Senior Vice President and the Business Executive of the FedNow Service, the new round-the-clock real-time payment and settlement service that the Federal Reserve Banks released in 2023 to support nationwide instant payments in the United States. In this role, Mr. Stanescu oversees all business-related and strategic aspects for the FedNow Service with the goal of ensuring successful evolution and growth of the service. The FedNow Service is the first new business line for the Federal Reserve System in 50 years and will help bring the benefits of safe, efficient instant payments to communities across the country. Previously, Mr. Stanescu was Senior Vice President and the Head of Payments Product Management of the Wholesale Product Office (WPO) at the Federal Reserve Bank of New York. Mr. Stanescu had business responsibility for the Fedwire Funds and National Settlement Services on behalf of the twelve Federal Reserve Banks. Collectively, these services clear and settle financial transactions exceeding $3 trillion per day and are a foundational underpinning of the United States financial system. Mr. Stanescu is the former Chief Information Security Officer of the Federal Reserve Bank of New York. He previously served as the Managing Officer of the Federal Reserve’s National Incident Response Team, the expert cyber unit responsible for the protection of critical digital assets and payment systems throughout the U.S. Federal Reserve System and a bureau of the U.S. Department of Treasury. Mr. Stanescu began his career in information technology at Rutgers University, where he received his bachelor’s degree in computer science. He holds an MBA degree from New York University, Stern School of Business with concentrations in management, economics, leadership and change management.