DALLAS–Fivancial, which does business as BankSocial, is reporting it has successfully facilitated its first live instant payment using the FedNow Service on behalf of a U.S. credit union client.
According to the company, the transaction was initiated within the credit union’s digital banking experience and settled in seconds, “demonstrating how community financial institutions can deliver modern peer-to-peer (P2P) payments while maintaining strong fraud, risk, and compliance controls.”
‘Major Milestone’
“Executing our first production payment using the FedNow Service is a major milestone for BankSocial and for the credit unions we serve,” John Wingate, founder & CEO of BankSocial, said in a statement. “Our goal is to empower institutions to offer the speed members expect, supported by the transparency, fraud prevention, and control that regulators and risk teams require.”
Live Demo
During the live demonstration with the credit union’s leadership team, BankSocial said it showcased:
- End-to-end P2P initiation inside the credit union’s digital banking environment
- Member-friendly onboarding and configurable credit union controls
- One-time verification between sender and receiver to establish a trusted contact pair
- Instant availability of funds to the receiving member’s account
- Configurable payment workflows, including future support for instant virtual cards and other settlement options
Behind the Scenes
BankSocial further said that behind the scenes, the payment leveraged its embedded wallet and tokenized-deposit architecture, which enables financial institutions to facilitate instant settlement using the FedNow Service through a modern, API-driven payments hub.
“From day one, we’ve designed this platform so that real-time payments, digital assets, and traditional accounts can coexist inside a single intelligent wallet,” Liz Winninger, EVP of Strategic growth & innovation at BankSocial, said in a statement. “This first live transaction demonstrates how credit unions can move money instantly, assess risk in real time, and open the door to entirely new member engagement opportunities.”
Mitigating Risk
BankSocial added that it also highlighted its integrated fraud and risk orchestration, which include:
- Real-time transaction scoring and behavioral analytics
- Recipient and endpoint screening aligned with emerging FedNow ecosystem practices
- Blockchain analytics and wallet clustering to monitor digital-asset flows
- Freeze, seize, and recovery tools supporting collaboration with exchanges and law enforcement
- Optional biometric verification and device intelligence on higher-risk transactions
Recognized by Jack Henry
Separately, BankSocial said it has been recognized as a Jack Henry Plugin Provider, “enabling credit unions and community financial institutions to seamlessly activate modern investing, real-time payments, and digital asset capabilities directly inside their existing Jack Henry digital banking experience.”
As part of the Banno Digital Toolkit ecosystem, BankSocial said it provides a unified orchestration and wallet infrastructure that allows financial institutions to deliver neo-bank-level speed, intelligence, and security without requiring a new app, member migration, or major operational disruption.
What’s Now Enabled
Through the integration, BankSocial said it now enables participating institutions to activate:
- Real-time payments (send + receive) via BankSocial Payments Hub
- Investing in stocks, ETFs, IRAs, and digital assets via Prospera
- Embedded crypto + tokenized asset support
- Member-to-member and P2P payments
- AI-powered fraud orchestration, including sender and recipient screening
- Future-forward wallet and tokenized deposit infrastructure
“From day one, our vision has been simple: give community institutions the tools to compete and win in a digital-first world,” BankSocial COO Becky Reed said in a statement. “Jack Henry institutions now have a turnkey way to activate instant payments, modern investing, and advanced fraud intelligence—without changing the member experience.”
