Sponsored: Payment modernization

<p>Financial institutions, businesses, and government agencies use the <a href='https://www.federalreserve.gov/'>Federal Reserve</a>’s <a href='https://www.federalreserve.gov/paymentsystems/fedfunds_about.htm'>Fedwire</a> system to transfer vast sums of money. <br/><br/>Currently, the Federal Reserve is modernizing its systems by embracing a new standard for message formats and expanding the settlement windows for wires. <br/><br/>However, many current systems used by credit unions are incompatible with these changes. <br/><br/>This episode of the <a href='https://news.cuna.org/podcasts'>CUNA News Podcast</a> features Carl Robinson, senior vice president of payments at <a href='https://www.alacriti.com/'>Alacriti</a>. <br/><br/>He breaks down the most significant changes the Federal Reserve is making, the actions credit unions should take to prepare, and the benefits to credit unions of updating their payment solutions.</p>