{"id":3721425,"date":"2026-05-12T04:01:26","date_gmt":"2026-05-12T08:01:26","guid":{"rendered":"https:\/\/www.pymnts.com\/?p=3721425"},"modified":"2026-05-11T20:18:20","modified_gmt":"2026-05-12T00:18:20","slug":"fednow-has-a-sender-problem-and-galileo-wants-to-fix-it","status":"publish","type":"post","link":"https:\/\/www.pymnts.com\/real-time-payments\/2026\/fednow-has-a-sender-problem-and-galileo-wants-to-fix-it\/","title":{"rendered":"FedNow Has a Sender Problem and Galileo Wants to Fix It"},"content":{"rendered":"<p><strong>Watch more:<\/strong> <a href=\"https:\/\/tv.pymnts.com\/detail\/video\/6394578739112\" target=\"_blank\" rel=\"noopener\">How Real-Time Payments Reshape Banking Operations<\/a><\/p><div\r\n\tid=\"article-paywall-overlay\"\r\n\tclass=\"d-none\"\r\n>\r\n\t<div id=\"article-paywall-content\" class=\"my-4\">\r\n\t\t\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f2699550-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"2699550\">\n<div class=\"screen-reader-response\"><p 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class=\"wpcf7-form-control wpcf7-hidden\" value=\"\" type=\"hidden\" name=\"email\" \/>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-12\">\n\t\t\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"newsLetterChoice\"><span class=\"wpcf7-form-control wpcf7-checkbox me-1\" id=\"checkNewsletter\"><span class=\"wpcf7-list-item first last\"><input type=\"checkbox\" name=\"newsLetterChoice[]\" value=\"yes\" checked=\"checked\" \/><span class=\"wpcf7-list-item-label\">yes<\/span><\/span><\/span><\/span><span class=\"small\">Subscribe to our daily newsletter, PYMNTS Today.<\/span>\n\t\t\t\t<\/p>\n\t\t\t\t<p class=\"small lh-base\" style=\"font-size:.9rem;\">By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our <a class=\"fw-bold\" href=\"https:\/\/pymnts-com-develop.go-vip.net\/privacy-policy\/\">Privacy Policy<\/a> and <a class=\"fw-bold\" href=\"https:\/\/pymnts-com-develop.go-vip.net\/terms-conditions\/\">Terms and Conditions<\/a>.\n\t\t\t\t<\/p>\n\t\t\t\t<p><input id='hiddenPath' type='hidden' name='path' value='' \/><input type='hidden' name='userDeviceId' id='userDeviceId' \/><input type='hidden' name='pageTitle' id='pageTitle' \/>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-12\">\n\t\t\t\t<div id='formButtonRow' class='container mt-1 px-0'>\n\t\t\t\t\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner btn btn-dark text-uppercase py-2 px-5 small\" id=\"theSubmitButton\" type=\"submit\" value=\"Submit\" \/>\n\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><input type=\"hidden\" name=\"post_id\" value=\"3721425\" \/><input type=\"hidden\" name=\"source\" value=\"https:\/\/www.pymnts.com\/real-time-payments\/2026\/fednow-has-a-sender-problem-and-galileo-wants-to-fix-it\/\" \/><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"195\"\/><script>document.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );<\/script><\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\r\n\t<\/div>\r\n<\/div>\r\n<div id=\"article-paywall-hidden-content\">\r\n\t\n<p style=\"font-weight: 400;\">FedNow has moved from pilot phase to utility with unusual speed, but its development has produced an uneven landscape in which banks accept instant payments more readily than they can initiate them.<\/p>\n<p style=\"font-weight: 400;\">That imbalance reflects a system still settling into its operational demands. As <a href=\"https:\/\/www.linkedin.com\/in\/ankushsinghal\/\">Ankush Singhal<\/a>, director of Product Management for Money Movement at <a href=\"https:\/\/www.galileo-ft.com\/\">Galileo<\/a>, told PYMNTS, the receive function has largely matured, while sending remains constrained by a mix of technology, risk and institutional readiness. \u201cOver 1,700 banks have been enabled for receive side now,\u201d Singhal said, noting that the initial barrier to participation has largely been removed.<\/p>\n<p style=\"font-weight: 400;\">The receive capability has become a relatively straightforward extension of existing infrastructure. Financial institutions can post incoming funds to customer accounts without reengineering their systems in fundamental ways. That simplicity explains why many banks began their FedNow journey there.<\/p>\n<p style=\"font-weight: 400;\">\u201cMost of these technology providers are able to post the funds to the subledgers,\u201d Singhal said, describing why receiving funds presents fewer complications.<\/p>\n<p style=\"font-weight: 400;\">That progress, however, has not translated evenly to the other side of the transaction. Sending money in real time introduces a different set of demands, ones that require banks to rethink how they manage funds, risk and customer expectations.<\/p><div id=\"pymnt-3453502041\" class=\"pymnt-content pymnt-entity-placement\" style=\"margin-top: 50px;\"><p style=\"text-align:center\">Advertisement: Scroll to Continue<\/p><script async type=\"text\/javascript\" id=\"dianomi_context_script\" src=\"https:\/\/www.dianomi.com\/js\/contextfeed.js\"><\/script> \r\n<div class=\"dianomi_context\" data-dianomi-context-id=\"4329\"><\/div><\/div>\n<p style=\"font-weight: 400;\">The distinction becomes clearer when comparing FedNow to ACH. Traditional batch processing allows banks time to validate transactions, adjust liquidity positions and manage exceptions. Real-time payments compress those activities into the instant a transaction is initiated.<\/p>\n<p style=\"font-weight: 400;\">\u201cWith ACH, there is more time downstream to review and do the exception handling,\u201d Singhal said. \u201cWith real-time payments, banks need stronger controls before the payment is released.\u201d<\/p>\n<p style=\"font-weight: 400;\">That compression reshapes the economics of decision-making. Payments now occur at the moment of intent, which gives consumers and businesses immediate access to funds but places greater responsibility on banks to act without delay.<\/p>\n<h2 style=\"font-weight: 400;\"><strong>Operational Strain Replaces Timing Flexibility<\/strong><\/h2>\n<p style=\"font-weight: 400;\">With instant payments, consumers avoid waiting days for funds to settle. Small businesses can address cash flow needs over weekends. Yet those benefits require banks to operate in a continuous environment.<\/p>\n<p style=\"font-weight: 400;\">\u201cFedNow is 24\/7, as you know, and it\u2019s weekend and holidays,\u201d Singhal said. \u201cThe liquidity that has to be managed is 24\/7.\u201d As a result, fraud detection must move upstream, where decisions are made before funds leave an account. The time window for intervention narrows sharply.<\/p>\n<p style=\"font-weight: 400;\">There is also a perception that faster payments introduce greater fraud risk. Singhal said early results suggest otherwise. \u201cOn these faster payment rails, fraud is actually lower,\u201d he said, citing initial data from Galileo and broader industry observations.<\/p>\n<p style=\"font-weight: 400;\">As for the fact that send functions lag, Singhal pointed to ecosystem readiness and integration complexity as the primary constraints.<\/p>\n<p style=\"font-weight: 400;\">\u201cIt\u2019s less about risk, it\u2019s more about the readiness itself,\u201d he said.<\/p>\n<p style=\"font-weight: 400;\">Banks rely heavily on legacy providers for core processing. While those systems can accommodate incoming funds, enabling outbound payments often requires new connections to ledgers, fraud systems and compliance tools. Those upgrades demand both capital and institutional commitment.<\/p>\n<p style=\"font-weight: 400;\">\u201cIt requires new integrations to cores, to ledgers, to new fraud systems,\u201d Singhal said, adding that such efforts lead to significant IT investments.<\/p>\n<h2 style=\"font-weight: 400;\"><strong>Platforms Step in as Intermediaries<\/strong><\/h2>\n<p style=\"font-weight: 400;\">The partnership between Galileo and SoFi illustrates how platforms can reduce those barriers.\u00a0 As recently <a href=\"https:\/\/www.pymnts.com\/real-time-payments\/2026\/sofi-lets-users-send-and-receive-funds-via-fednow\/\">announced<\/a>, SoFi now supports both sending and receiving through FedNow, enabled by Galileo\u2019s infrastructure.<\/p>\n<p style=\"font-weight: 400;\">Singhal described platforms as a way to abstract complexity from banks that might otherwise struggle to justify large-scale upgrades.<\/p>\n<p style=\"font-weight: 400;\">\u201cWe remove a lot of heavy lifting that is required to get onto the FedNow rails,\u201d he said.<\/p>\n<p style=\"font-weight: 400;\">Through a payment hub model, institutions can connect once and gain access to multiple payment rails, including FedNow. That approach allows banks to avoid building separate integrations for each system while incorporating compliance and orchestration capabilities into a single framework.<\/p>\n<p style=\"font-weight: 400;\">SoFi\u2019s experience offers a practical example. By extending an existing integration, the company was able to add FedNow functionality without rebuilding its infrastructure.<\/p>\n<p style=\"font-weight: 400;\">\u201cThey were able to use the same integration and build on top of it and enable it now,\u201d Singhal told PYMNTS.<\/p>\n<h2 style=\"font-weight: 400;\"><strong>Account Primacy and Customer Expectations<\/strong><\/h2>\n<p style=\"font-weight: 400;\">Real-time payments also influence how customers choose financial institutions. While some observers have suggested that easier money movement could increase account switching, Singhal argued the opposite is more likely in the near term.<\/p>\n<p style=\"font-weight: 400;\">\u201cNinety percent of the respondents said they would use a bank account more if it offered instant payment capabilities,\u201d he said, referencing a Boston Fed study.<\/p>\n<p style=\"font-weight: 400;\">The implication is that instant payments strengthen engagement rather than weaken it. Customers value immediate access to funds, particularly in situations that require quick action.<\/p>\n<p style=\"font-weight: 400;\">Over time, however, differences in capability may reshape competition. Institutions that fail to offer real-time functionality could see increased outflows, while those that provide it effectively may reinforce their role as primary accounts.<\/p>\n<p style=\"font-weight: 400;\">\u201cIt\u2019s really about the competition between the institutions that enable these experiences versus the institutions that do not,\u201d Singhal said. \u201cWe are starting to move from just access to the actual usage,\u201d he added. \u201cOnce you make real-time payments usable and give a great experience to users, adoption follows quickly.\u201d<\/p>\n\r\n<\/div>\r\n<script>\r\n\twindow.pymntsAllowedArticleCount = 1;\r\n\twindow.pymntsPostID = 3721425;\r\n<\/script>","protected":false},"excerpt":{"rendered":"<p>Watch more: How Real-Time Payments Reshape Banking Operations Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content \u2014 no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. 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