As you know, changes in the payments industry have been rapid and continue to move at high speed. To meet these ever-shifting demands, we continually enhance the technology platforms that support our Federal Reserve Financial Services so we can continue to deliver innovative, efficient and reliable solutions to meet your requirements. The Federal Reserve Banks' Check Platform Modernization initiative is in the final stages of development and external testing is scheduled to begin in the near future.
Migration to the new platform is targeted to occur in the second half of 2012 and will result in a fully centralized, scalable and flexible processing environment to support high quality, efficient check services. This transition will result in a centralized processing infrastructure, moving from multiple electronic processing sites to one to support high-quality, efficient processing.
As stated (PDF) in our January 18, 2012, letter, we will be completing rigorous internal and customer testing as part of the implementation process. Internal testing is underway, and we are already communicating with the processor/vendor community on our customer testing approach. We expect to begin testing with processors/vendors by the end of the first quarter and the larger customer community in the second quarter.
“We will continue to keep you updated regarding various aspects of the project, including the implementation timeline and other operational changes that will occur with the migration.”
As testing draws closer, we will provide detailed information via direct communication. For your convenience, please visit the Check Platform Modernization Resource Center for information regarding this initiative or contact Check Services Customer Support at (877) 372-2457 with any questions.
Address comments and questions to the Financial Services Webmaster.
©2013 Federal Reserve Banks