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Live Oak Bank has enhanced its commercial and small business banking services by partnering with Finzly for its Fedwire solution. Payment and financial solutions provider Finzly announced this week that Live Oak Bank has enhanced its commercial and small business banking services by implementing Finzly’s Fedwire solution.
Since its launch in July last year, about 700 banks and credit unions have joined the FedNow network, and this list is expected to grow as the Fed seeks 8,000 financial institutions. The Federal Reserve’s goal is to achieve wide adoption of FedNow over time, much like the Fedwire ® Funds Service and FedACH ® Services.
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