We will still need banks’ mobile apps to support this kind of transfer (FedNow).

Considering that I’ve never been able to do wire transfers by mobile app with two major US banks (but Zelle transfer by mobile app? Of course!), I’m not confident this will replace Zelle, Venmo, etc for some time.

Sure, in 10 years or so... but don’t hold your breath.

At least they’re finally working on it.

Indeed, having the infra in place is half the battle. Requiring banks provide access to the infra through their customer facing endpoints is just a bit of regulation away at that point.

It'll take a while, but it's nice to know a decent end state is on the roadmap.