Over the coming weeks, the Federal Reserve will accept expressions of interest in the pilot program from eligible members of the FedNow Community, including financial institutions, as well as service providers and payment processors that partner with financial institutions.
The pilot program will include three phases: advisory, testing and closed-loop production. Throughout each of these phases and the subsequent launch of the FedNow Service, the Federal Reserve will call upon the entire group or subgroups of pilot participants – for example, those with specific expertise and/or representing specific segments – to participate in discussions or demos, test the service, engage service providers or users, and conduct other activities as needed.
Interested organisations that are not members of the FedNow Community should first enroll by submitting the FedNow Community participant profile form. Enrolled Community members will receive more information on the pilot program, the program’s expression of interest form and an invitation to join a webinar later this month.
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