Keith Riddle, GM of Payfinia, shares insights on instant payments, fintech innovation, fraud mitigation, and the future of real-time money movement.
Keith, to begin, could you briefly share more about your professional background and the journey that led you into the fintech industry, and now as General Manager at Payfinia?
Certainly. I’ve spent over 35 years in the financial services industry, and my career has been defined by the intersection of banking operations, digital transformation, fintech, and payments innovation. Before taking the helm at Payfinia, I served as CEO of the Americas for BankiFi and President and CEO of Sherpa Technologies. I have also held senior executive roles at Tyfone and Corporate One Federal Credit Union.
My journey has always been about helping community financial institutions (CFIs) bridge the “agility gap.” I saw firsthand how difficult it was for credit unions and community banks to keep pace with the rapid digital transformation driven by the biggest players. That passion for leveling the playing field led me to Payfinia. Payfinia was incubated and launched following a long-term partnership between Tyfone and Star One Credit Union, with the goal of creating a stand-alone organization and CUSO dedicated specifically to instant payments. It was the perfect opportunity to take my experience in digital services, fintech, and payment platforms and apply it to the most critical shift in financial services right now: the transition to real-time money movement.
You’ve held significant roles in digital solutions and electronic payments. How has your previous experience shaped your approach to leading Payfinia’s strategy and operations today?
My past experiences taught me that the “rip and replace” approach is rarely a viable strategy for community institutions. They cannot afford to overhaul their entire core banking system and digital experience layer every time a new payment rail is introduced.
That insight is the bedrock of Payfinia’s strategy. We built our flagship solution, the Instant Payment Xchange (IPX), as a Payment-as-a-Service platform. My background with integration frameworks at Sherpa underscored the importance of open, API-led connectivity, and that philosophy is embedded in Payfinia’s offerings. Rather than simply providing access to instant payment networks, we deliver a comprehensive payments framework and fraud mitigation overlay services that sit on top of legacy infrastructure. This model allows institutions to connect to the FedNow® Service or the RTP® network without undertaking a massive capital project. We focus on removing the technical friction so our partners can prioritize the member experience.
What new technologies do you think will have the biggest effect on how businesses handle their money in the future?
The most immediate disruptors are the instant payment rails—FedNow and RTP. But looking ahead, the biggest effect in the future will come from embedding these payment capabilities into non-banking workflows and the expansion of digital wallet functionality.
We are moving toward an environment where payments operate as invisible components of business processes. For example, we are seeing the convergence of traditional fiat payments with blockchain and digital assets. Our recent work with Metallicus to bridge instant payments with crypto-services is a prime example.
Additionally, I’m watching the rise of “Request for Payment” (RfP) messaging standards and emerging standards for supporting payment-specific QR codes. This technology will fundamentally change accounts receivable for businesses, allowing them to send an invoice and receive irrevocable funds seconds later, drastically improving liquidity management for small and mid-sized enterprises (SMEs).
Finally, the use of digital wallet services by consumers and as a payment acceptance method by businesses will chart a new paradigm for financial institutions increasing digital engagement with their members/consumers and businesses.
What advice would you offer financial institutions or fintech leaders who are beginning their journey into instant payments and want to position themselves for long-term success?
My primary advice is: Don’t wait for perfection to start. Many institutions are hesitant because they fear fraud or unclear ROI for “Send” use cases. I advise them to start by enabling “Receive” capabilities, which allows their team to become comfortable with the operational flow. However, it’s critical to have a roadmap for rolling out “Send” capabilities quickly, because that is where the true value lies for your account holders.
Secondly, do not try to build this alone. The complexity of 24/7/365 liquidity management and real-time fraud mitigation is immense. Partner with a specialized provider that understands these specific hurdles and has proven performance metrics. Institutions need a partner who can handle the connectivity and the fraud monitoring so they can focus on servicing the relationship.
What trends are you seeing among consumers, businesses, or financial institutions as they embrace real-time payments?
We are seeing 2026 shape up to be a watershed year for real-time payments adoption. The most significant trend is the shift from “emergency” use cases to “broader lifestyle and business applications.
Initially, instant payments were seen primarily as a convenience for things like splitting a dinner bill or sending urgent transfers. Now, the Gig Economy drives massive volume, with Uber drivers and freelancers expecting to be paid instantly rather than waiting days. On the business side, with the RTP network and FedNow Service increasing transaction limits to $10 million, we are seeing a trend toward B2B payments migrating to real-time rails. Businesses are realizing that holding onto cash until the last second and then paying instantly gives them better control over working capital The expectation for “immediate” is no longer a luxury; it is becoming the new standard.
Why are instant payments considered one of the most transformative shifts in payment infrastructure and what fundamental changes do they unlock for consumers and businesses?
Instant payments represent a foundational shift because they eliminate settlement delays that have historically constrained how consumers and businesses manage their finances. Real-time clearing unlocks immediate liquidity, enabling everything from timely bill payments to automated cash-flow optimization and last-minute disbursements. For financial institutions, instant payments shift money movement from a commodity to a competitive differentiator, empowering new revenue models, higher accountholder engagement, and the ability to meet the growing expectation for immediacy in all digital interactions.
Payfinia plays a unique role in the instant payments ecosystem. How would you describe the company’s strategic position in helping financial institutions modernize and adopt real-time payment capabilities?
We see ourselves as the connector and enabler for community financial institutions that want to approach instant payments without taking on a massive core overhaul. Our composable payments framework is open and flexible, giving institutions a practical, phased path into real-time payments, starting with receive-only and scaling to full send and advanced money-movement use cases. It is a true partnership model focused on helping institutions modernize at a pace that best aligns with their strategic roadmap.
Can you explain how Payfinia’s Instant Payments Xchange (IPX) bridges the gap between legacy banking systems and modern instant payment networks like the FedNow Service?
IPX was purpose-built to sit between legacy infrastructure and emerging real-time networks. It connects securely to any core through REST or SOAP APIs, FDX 5.2, or digital banking and EFT connectors, allowing institutions to adopt modern payment capabilities without overhauling existing systems. We also embed these capabilities directly into existing workflows so institutions and their partners can quickly roll out new use cases. That makes IPX an easy, low-disruption entry point to FedNow and other instant payment rails.
With real-time payments comes real-time fraud risk. How has Payfinia built its security and fraud prevention capabilities to ensure safety without compromising the immediacy customers expect?
Speed doesn’t mean sacrificing safety. Our layered approach combines device-level intelligence, dynamic grouping, velocity and dollar thresholds, cool-off periods, and trusted device initiation. These controls deliver early detection of account takeover and scam-related fraud without adding friction to the user experience. As instant payments scale, the ability to bind users, devices, and behavioral patterns to each transaction is essential, and Payfinia’s architecture was intentionally designed to provide that protection while preserving real-time speed.
Payfinia partners with third-party providers to power broader money movement workflows. How important are these integrations in expanding the reach and value of instant payments across industries?
Integrations are critical because instant payments generate the most value when embedded directly into the platforms consumers and businesses already use. Through our open API gateway, Payfinia supports connections to digital banking platforms, wealthtech, eCommerce, loan origination systems, payroll providers, and cryptocurrency applications. These partnerships enable a unified experience across A2A transfers, P2P payments, disbursements, payroll, bill pay, tax payments, and more, expanding the impact of instant payments well beyond traditional retail banking. By enabling these integrated workflows, we help institutions extend instant payment capabilities into new verticals and revenue opportunities.
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
