Independent Banker - November 2022 - 91

a much longer pilot program
than the average. It has allowed
participants to truly help shape
and inform the service that will be
launched in the market next year.
Long: From the very beginning,
this pilot experience was markedly
diff erent than any other industry
project I've been a part of.
Collaborating, communicating and
giving feedback makes the whole
building process and end product
better. We have to be open to the
opportunities for all parties in the
payments journey-consumer,
business, provider, bank and
beyond-to benefi t from that
payment happening quicker.
While every community bank
is different, instant payments
speak to a range of customer
experiences and needs.
Long: Each community bank
needs to prepare its own plan for
instant payments. There can be
four community banks on four
corners of Main Street, and all
four may have diff erent business
strategies. That's true of an instant
payments strategy as well. You
have to determine how it will
help you serve your consumers,
businesses or both.
Denning: The industry is in the
throes of transforming digitally,
and instant payments and FedNow
will enable digital transformation
in a whole new way. It's a great
time to evaluate the customer
experience, what challenges they
are facing in their daily lives,
and where community banks
can add value, because digital
transformation and instant
payments will certainly intersect
over the next fi ve-year period. 
Colleen Morrison is a writer
in Maryland.
" We have to be open to the opportunities
for all parties in the payments journey-
consumer, business, provider, bank and
beyond-to benefit from that payment
happening quicker. "
-DAVID LONG, BRYANT BANK
ICBA Bancard's
FedNow webinar series
To be ready for FedNow's launch,
education for both customers
and staff will be critical.
" This is the first time the Fed
has created a new rail in 40
years, and we have to educate
on why, " says David Long,
executive vice president of
correspondent banking at Bryant
Bank in Tuscaloosa, Ala. " We've
got to have a plan and determine
how to educate both internally
and with our customer base. "
With that in mind, ICBA
Bancard has developed
a webinar series to help
community banks prepare for
FedNow. " Ramping Up for the
FedNow Launch " includes four
segments to support planning:
1. Delay No More: Creating
Your FedNow Plan
2. FedNow Features,
A Deep Dive
3. Lessons Learned From
Community Banks
Implementing Instant
Payments
4. Preparing for 2023 and
Q&A with a Fed expert
Complimentary recordings
of each session are available
to ICBA members on
Bancard's website at bit.ly/
ICBAinstantpayments
" As community banks prepare
for FedNow, define your strategy
by talking to employees,
customers and providers, "
advises Nick Denning, ICBA
Bancard senior vice president
of payments industry relations.
" The more you engage others
and the more you talk about
FedNow, the more you will be
able to inform your path forward,
making sure you're uncovering
any blind spots. "
independentbanker.org Q 91
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Independent Banker - November 2022

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