Nick Stanescu is an executive vice president at the Federal Reserve Bank of Boston and chief executive of the FedNow® Service. He leads the FedNow group with responsibility for the Federal Reserve System’s round-the-clock real-time payment and settlement service supporting instant payments in the United States. In this role, he has responsibility for FedNow core delivery functions, including technology and product management. Most recently, Nick served as FedNow business executive since program inception in August 2019. Before joining the Federal Reserve Bank of Boston, Nick held several executive and senior level roles within the Federal Reserve Bank of New York, including Head of Payments Product Management where he had business responsibility for Fedwire Funds and National Settlement Services on behalf of the twelve Federal Reserve Banks. Collectively, these services clear and settle financial transactions exceeding $4 trillion per day and are a foundational underpinning of the United States financial system.