ACH still closes for the night. Fraud, overdrafts, and missed rent don't.
FMI connects community banks and credit unions to the FedNow and RTP instant payment rails — handling liquidity management, ISO 20022 messaging, and sponsor bank relationships — so a payment settles in seconds, any hour, any day, instead of waiting for the next ACH batch window.
The Fed built the rail. Most community banks don't have the team to get on it alone.
FedNow launched in July 2023 as a real-time gross settlement system built by the Federal Reserve, and RTP has run since 2017 — but connecting a core banking platform to either one means new liquidity management processes, new ISO 20022 message formatting, and often a sponsor bank relationship if you can't connect directly. That's a lot of new infrastructure for an institution whose team is already stretched thin.
Rail integration, liquidity management, messaging, and sponsor relationships.
Four services covering everything between your core banking system and the instant payment network.
Thaddeus Merriweather watched a two-day delay cost a customer real money.
Running payment operations at a community bank, he watched a customer's paycheck sit in ACH transit over a holiday weekend, triggering an overdraft fee on a rent payment that would have cleared fine if the deposit had settled instantly. The technology to prevent it already existed. His bank just didn't have the resources to connect to it. FMI exists to be that connection for institutions like his.
Six stages, from core system assessment to go-live.
The same disciplined process whether you're pursuing FedNow, RTP, or both.
Still settling payments on ACH's schedule instead of your customers'? Get in touch — most engagements start with a core system assessment, not a sales call.