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ECS Fin

ECS Fin

Solution(s): IMS Payment
Website(s): ecsfin.com/solutions/industry-trends/fednow (Off-site)
Contact: Swithin Roy, swithin@ecsfin.com

Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve.Learn more.

Services and products to support the FedNow® Service

ECS Fin supports FedNow Service implementation and innovation through its IMS payment platform and related services, including end-to-end FedNow payment processing; ISO® 20022 readiness; workflow and exception management; reporting; enterprise integration; and deployment as a stand-alone solution, Payment Hub module or service-based offering. ECS Fin also provides payment modernization support to help institutions introduce new real-time payment capabilities with minimal disruption to existing infrastructure. ECS was among the first service providers certified for the Federal Reserve’s FedNow Service.

Segment type(s)

  • Financial Institution Service Provider

Solution type(s)

  • Payment Service Providers
  • Payments Hubs/Platforms/Payment Gateways
  • Payment Testing Platform Providers (including Sandbox Opportunities, proof-of-concept services)

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
  • 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.