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US Banks Are ‘Conflicted With Worries’ as Demand for Instant Payments Grows; Reveals RedCompass Labs

May 7, 2024


The latest RedCompass Labs report, ‘Time to leave legacy behind? Instant payments in the US‘, surveyed 300 senior payment professionals in US banks to get a better picture of the demand for instant payments, the barriers to implementation, the challenges banks face, and other important payment trends.

The research has revealed that, while two-thirds of banks aren’t signed up to RTP or FedNow, 63 per cent of US corporate bankers experience significant or overwhelming demand for instant payments from their corporate customers.

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