Finastra Launches Cloud-Based Payments Hub Ready For FedNow

Finastra, a global fintech company, will offer the FedNow connectivity through its cloud-based payments hub, called Payments to Go, and later through its Global PAYplus solution.

FedNow will present both technical and operational challenges for banks, said Michelle Bateman, Finastra’s director of product management for U.S. Payments. It is a new payment rail and the U.S. hasn’t seen the adoption of a new interbank clearing system, outside The Clearing House’s RTP, in 40 years.