Making the FedNow Service accessible to financial institutions of all sizes is a top priority of the Federal Reserve Banks. To help make this a reality, we’re implementing flexible design features such as the ability to choose from a variety of participation options.
As financial institutions prepare for the FedNow Service, they should start thinking about the FedNow participation types – send and receive, receive only, liquidity management transfers and settlement services – that will allow them to support their business and customer needs.
Financial institutions can enable almost any combination of these options, with a few exceptions. Each option allows for several different configurations, providing financial institutions with the flexibility to participate in a way that works best for them.
Read the full blog post to get the details and learn more.
