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Catalyst

Catalyst Corporate FCU

Solution(s): Payments Hub & Digital Payments Platform
Website(s): catalystcorp.org (Off-site)
Contact: fednow@catalystcorp.org

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Services and products to support the FedNow® Service

Catalyst supports financial institutions in implementing and innovating on the FedNow Service through a comprehensive, core-agnostic instant payments platform combined with thought leadership, onboarding and ongoing support. Catalyst enables send, receive and settlement capabilities on the FedNow Service, with 24x7x365 processing, real-time posting and settlement support, allowing institutions to launch quickly and scale over time. Account types supported include consumer and business deposit accounts (DDAs and savings) as well as loan-related disbursements (e.g., direct and indirect lending, mortgage funding, emergency payments, payroll, and community or government programs).

Transactions post simultaneously to settlement and the core, ensuring immediate funds availability and liquidity visibility. Financial institutions can originate and receive payments via the FedNow Service through the Catalyst portal, which offers transaction visibility, research and exception handling. Catalyst supports API-based connectivity to cores and digital banking platforms, enabling embedded instant payments, automated posting and message routing. Receive workflows include automated posting, archiving and support for requests for return. Catalyst offers the ability to send and receive request for payment (RFP). Primary users include financial institution staff (operations, payments, treasury and lending teams) who manage FedNow activity through Catalyst’s back-office tools, as well as retail and business customers who initiate instant payments through their institution’s digital channels. Catalyst’s model allows institutions to start with internal use cases and expand to member-facing innovation as strategy evolves.

Segment type(s)

  • End-User Service Provider
  • Financial Institution Service Provider
  • Participating Financial Institution

Solution type(s)

  • Correspondent Services (settlement)
  • Digital User Experience (mobile/online interfaces)
  • Payment Service Providers
  • Risk Management and Fraud Services
  • Sponsoring Financial Institution

Use cases/markets served

  • Bill Pay and Presentment
  • Brokerage
  • Buy Now Pay Later
  • Construction
  • Digital Wallet Funding/Defunding
  • Government (e.g., municipality, state, federal)
  • Health Care
  • Insurance
  • Loans (direct or indirect)
  • Merchant
  • P2P Payments
  • Payroll
  • Real Estate (e.g., escrow, property management)
  • Transportation

FedNow functionality supported

  • Back Office/Treasury Management Services
  • Connectivity to the FedNow Service via FedLine® Solutions
  • Correspondent Settlement Services
  • FedNow Profile Management
  • FI Staff-Initiated Transactions
  • Fraud Prevention/Monitoring Services
  • Liquidity Management Transfers
  • Other
  • Receiving FedNow Transactions
  • RFP Transactions – Businesses Receiving
  • RFP Transactions – Businesses Sending
  • RFP Transactions – Consumers Receiving
  • RFP Transactions – Consumers Sending
  • Sending FedNow Transactions – Business Accounts
  • Sending FedNow Transactions – Consumer Accounts

Ability to integrate with outside core processing solutions

  • Yes, any (core agnostic)

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Note on exchange information

Federal Reserve Financial Services (FRFS) is solely a host for the information presented in this Innovator Exchange and the inclusion or exclusion of a provider should in no way imply any relationship with, or recommendation or endorsement by, the Federal Reserve. Exchange presenters are not utilized by the Federal Reserve for the production or delivery of the FedNow Service. FRFS takes no responsibility for the content or accuracy of the information presented. Users of the exchange should perform their own due diligence on providers. See the Terms of Use and Privacy Policy for additional information.