Announcing Participants of the Newly Created FedNow Pilot Program
Federal Reserve Bank
The Federal Reserve Banks announced (Off-site) that more than 110 organizations are participating in the pilot program for the FedNowSM Service. The program will support development, testing and adoption of the FedNow Service, as well as encourage development of services and use cases that leverage FedNow functionality. A key objective when forming the pilot was to ensure diverse representation across financial institutions and service providers, connection types, settlement arrangements and experience levels.
To view the list of organizations (Off-site) that have announced their participation, visit FedNow.org. Through their involvement in the FedNow Pilot Program, participating financial institutions and processors will help shape the product’s features and functions, provide input into the overall user experience, ensure readiness for testing and be the first to experience the FedNow Service before its general availability.