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> Instant, ultra-low cost inner-bank transfers.

I assume you mean inter-bank. Many US banks do instant transfer between accounts in the same bank, even if different account holders. On the inter-bank front, there’s Zelle that many US banks support that’s instant and free, but it has stupidly low limits. On the kinda instant front (aka under 15min), wiretransfers exist but they are a poor UX universally and have a steep fee generally (my bank does it for free, but I have to have a high end account for that).

We have this in the UK with "faster payments".

Banks do this so they can gain the interest on the delay. Very annoying though for the end usrr

That isn’t the whole story, the Federal Reserve and their antiquated process is another major factor.