Speed, Finality, and Choice: Wires vs. Instant Payments

This course explores how traditional wire transfer systems and instant payment rails compare and where each still plays a critical role. Students will examine U.S. wire systems alongside instant payment options, focusing on differences in speed, finality, use cases, and risk. Faculty will lead a discussion on how institutions are increasingly using need-based decisioning to route payments effectively. Students will leave with a clearer understanding of how wire transfers, instant payments, and Real-Time Gross Settlement concepts fit together and how to make informed decisions as faster payment options continue to expand.