Have you downloaded a copy of the FedNow Service Readiness Guide yet? This rich resource is one you don’t want to miss as your financial institution prepares for instant payments with the FedNow Service.
The FedNow Readiness Guide includes insights on how the FedNow Service will work, questions to consider and ideas for gaining value from the service for you and your customers. Key topics covered in the guide include:
- Customer payment flow — Get a step-by-step overview of the FedNow Service payment process.
- Participation types — Read about the flexible participation options available to financial institutions.
- Planning considerations — Review considerations around product planning, technology and treasury operations.
- Operational features — Learn about operational features of the FedNow Service including settlement, reporting and reconcilement and liquidity management.
- Technology features — Gain an understanding of the FedNow payment timeout clock, participant availability and information security.
Accelerate your instant payments journey by accessing the FedNow Readiness Guide on FedNowExplorer.org (Off-site) today.